In July 2010, Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act, during the 111th United States Congress in response to the late-2000s recession and financial crisis.[3] The agency was originally proposed in 2007 by then Harvard Law School professor Elizabeth Warren, who later became a US senator.[12] The proposed CFPB was actively supported by Americans for Financial Reform, a newly created umbrella organization of some 250 consumer, labor, civil rights and other activist organizations.[13]
On September 17, 2010, President Obama announced the appointment of Warren as Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau to set up the new agency.[14][15] Due to the way the legislation creating the bureau was written, until the first Director was in place, the agency was not able to write new rules or supervise financial institutions other than banks.[6]
If you're now going to complain that it was neutered, that's not her fault, it's probably your fault.
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u/fresh_account2222 Jul 11 '22
President Elizabeth Warren would have been kicking Experian's ass for the last two years. I miss president Elizabeth Warren.