Supporters of Harvard law professor Elizabeth Warren to lead the new consumer financial bureau have picked up endorsements from lawmakers, political websites and newspaper editorials. Their success may depend on whether a quieter campaign Warren has been waging can win over detractors.
Warren, chairman of the congressional panel overseeing the Troubled Asset Relief Program, has dined with banking lobbyists, explained the financial regulatory bill to Wall Street analysts and met privately with Republican senators including Susan Collins of Maine and Bob Corker of Tennessee, Bloomberg Businessweek reports in its August 2 issue.
If President Barack Obama nominates Warren to head the Bureau of Consumer Financial Protection, the relationships she’s been building could blunt a Senate confirmation battle by countering criticism that her consumer crusading would make it hard to negotiate fairly with business groups.
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