Bearing olive branch, Warren braves Chamber

The chamber is the nation's largest and richest business lobbying group.

"The chamber has been very aggressive in opposing pretty much any policy the Obama administration has proposed," said Christian Weller, an associate professor of public policy at the University of Massachusetts-Boston.


Warren used the chamber event to attack a proposal from congressional Republicans to put the CFPB's funding through the congressional appropriations process, instead of getting funds independently as the Dodd-Frank legislation required.

CFPB funding should be independent of the appropriations process, she said, as it is for other bank regulators.

"A new restriction has been proposed to subject the consumer bureau to the yearly appropriations process. "There is no principled reason for breaking from this historical practice and for stripping the independence of the first banking agency devoted to consumer protection," said Warren, a Harvard Law School professor.

Jamie Dimon, CEO of banking giant JPMorgan Chase & Co, spoke at the event later on Wednesday. Senior White House economic adviser Gene Sperling was also due to appear.


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Arina said...

olive branch has always been the symbol of noblety and victory so wish the same to the author of the site!