Quantcast
Connect with us

Report: Warren to be passed over as nominee to head Consumer Bureau

Published

on

Bloomberg News is reporting as of Friday evening that President Obama has chosen somebody other than Elizabeth Warren to be nominated as director of the Consumer Financial Protection Bureau.

According to the report, which is based on an anonymous source, an unidentified individual who already works at the agency will be nominated instead.

Congressional Republicans have opposed Warren’s appointment to the director’s post since last year. In September, the president selected her to oversee the agency’s development, a position that does not require Congressional confirmation.

ADVERTISEMENT

In May, a group of 44 Republican Senators sent a letter to President Obama saying they would not confirm any nominee for director unless the functions of the agency were signifantly reduced. They complained at the time that the director would have”vast rulemaking, supervisory, investigative and enforcement powers and the authority to regulate any person or business that offers or sells a ‘financial product or service.'”

The agency is due to begin operation on Thursday, July 21. It is not clear from the Bloomberg story why the president believes a nominee other than Warren could survive a Republican filibuster.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Turkey quickly undermines Trump as he boasts about his deal-making: ‘This is not a ceasefire’

Published

on

According to Turkey, President Donald Trump's so-called ceasefire in Syria isn't actually a ceasefire.

"Turkish FM Çavu?o?lu just now: 'We will suspend the Peace Spring operation for 120 hours for the PKK/YPG to withdraw. This is not a ceasefire,'" tweeted Turkey correspondent for The Economist.

https://twitter.com/p_zalewski/status/1184894093639475201

According to Vice President Mike Pence, the ceasefire will take place for just five days. It's unclear what will happen after those five days are up.

CNN's Matt Hoye noted the Turkish foreign minister's comments came around the same time that Trump was praising the deal.

Continue Reading

Breaking Banner

EU and Britain just struck a Brexit deal — here’s what’s in it

Published

on

"Fair and reasonable." That's how both Britain's Boris Johnson and the EU describe the new draft Brexit deal reached Thursday after days of intense haggling.

Here's what's in the accord -- and what each side gave up to get there.

- Northern Ireland -

Arrangements for the UK province of Northern Ireland were the trickiest part of the new deal, and the core of what has changed since last year's withdrawal agreement, which was rejected by British MPs.

The new protocol stipulates that Northern Ireland remains in Britain's customs territory, but in practice there would be a sort of customs border between the province and the mainland.

Continue Reading
 

Breaking Banner

Expect exodus of high-ranking Trump officials because they ‘no longer have anything to gain’ by staying: columnist

Published

on

Writing for the conservative Bulwark, columnist and author Robert Tracinski said Donald Trump's Syria debacle is likely the turning point for even the most hardened of his most avid defenders in the White House. Many of them, he said, will likely start leaving.

As Tracinski began, "Donald Trump’s betrayal of the Kurds is a moment that might be more important than it seems—one that is likely to have a far-reaching impact that goes well beyond what happens in Syria."

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image