Massachusetts’ Democratic Senator-elect Elizabeth Warren is expected to be appointed to a seat on the U.S. Senate Banking Committee.
The appointment, which will be made by Senate Majority Leader Harry Reid, was first reported by the Huffington Post on Tuesday and has been confirmed by additional news reports and Democratic aides. . . .
While her appointment has generated concern among representatives of the banking industry, it is being cheered by representatives of consumer groups.
Deirdre Cummings, legislative director for MASSPIRG, a consumer advocacy group, said the appointment will be “good news for consumers.” “She has a demonstrated track record of standing up for the average consumer and working to ensure that they have some financial security, that they have an understanding of the financial products,” Cummings said. “Sen. Warren is coming in with tremendous experience and know-how about how to protect consumers and provide a fair playing field in the financial community for consumers against a well-practiced and well-financed banking industry that has a history of taking advantage of consumers.”