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Inside Washington (11/21/2011)
  • WASHINGTON (11/22/11)--As special adviser to the secretary of the Treasury, Raj Date is currently filling two roles at the Consumer Financial Protection Bureau (CFPB): one left by the departure of Elizabeth Warren, the former Harvard professor who shaped CFPB, and the one created by the stalled nomination of Richard Cordray, President Barack Obama's nomination as the agency's director (The Hill Nov. 21). Date also was instrumental in forming the bureau, serving as one of Warren's top deputies, alongside Cordray. So far, the CFPB has hired 750 employees, including 50 during a two-week span in November. Senate Republicans have pledged to block the Cordray's appointment until the CFPB is subject to additional oversight. Republicans say the bureau holds too much oversight for a single regulator and should be replaced with a multi-member commission. But Date told The Hill there are plenty of people in the financial industry who, like him, want consumer finance to work better for consumers …


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