Warren to sit on Senate Banking Committee: Reports

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Multiple sources are confirming that Senator-elect Elizabeth Warren (D-MA) will be appointed to the Senate Banking Committee, according to reports published Tuesday.

The former Harvard professor helped create President Barack Obama’s Consumer Financial Protection Bureau, which she was set to lead before Senate Republicans blocked her confirmation.

While the appointment is not official until Senate Majority Leader Harry Reid (D-NV) announces it and fellow Democrats agree, two Senate aides told The Boston Globe that she’s virtually a lock for a seat on the panel that regulates the nation’s financial institutions. Bloomberg News and The Huffington Post reported the same earlier in the day without stating their sources.

Warren defeated outgoing Sen. Scott Brown (R-MA) in one of the most expensive congressional races this year, spending more than $40 million along her path to victory. She told supporters just days before the election that restoring Glass-Steagall, a depression-era rule that segregates consumer banking from risky investments, would be among her “top three” priorities.
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Photo: Flickr user qwrrty, creative commons licensed.