Warren assigned to Senate Banking Committee

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Sen.-elect Elizabeth Warren (D-MA), an ardent critic of Wall Street practices, will be assigned a seat on the Senate Banking Committee once the 113th Congress convenes in January.

Progressive and liberal groups had urged Democratic leaders to place Warren on the committee, which considers legislation regarding the nation’s financial institutions. Bank lobbyists, on the other hand, had pushed to keep her off the committee.

Warren was the chief architect of the Consumer Financial Protection Bureau, an agency dedicated to regulating mortgages, credit cards and other financial goods and services. During her Senate campaign, the Harvard Law School professor was heavily opposed by the financial industry, who favored Republican Sen. Scott Brown.

“I am excited to work with the members of our expanded majority. Our caucus is more diverse than ever, with a record sixteen female Democratic senators serving in the next Congress,” Senate Majority Leader Harry Reid said in a statement. “These committee assignments will allow all members of our caucus to bring their unique talents and expertise to bear as we work together to advance the interests of the middle class.”

Reports that Warren would be assigned to the Senate Banking Committee were published last week.

[Image via Flickr user qwrrty, Creative Commons licensed]