10/19, 1:39 AM (Source: TeleTrader)
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Warren: Big banks, Trump admin want to kill CFPB

Senator Elizabeth Warren, who takes particular pride in initiating the establishment of the Consumer Financial Protection Bureau more than a decade ago, said it is "dedicated to protecting consumers and holding big banks accountable." After the Supreme Court of the United States said it would hear a case challenging the agency's constitutionality, she accused major lenders "and their Republican allies" of perpetually "trying to kill" it.

The Democratic presidential hopeful said the administration of President Donald Trump is hoping that the highest legal instance, which she called "right-wing" and "pro-corporate," would participate in the push. "I've got news for them: Like it or not, the CFPB is constitutional," she wrote on Twitter and added: "I'll never stop fighting. We need Washington to work for all of us, not just the wealthy and well-connected."

The dispute is centered on the position of the entity's director and their powers, with challengers and the government arguing that it is too difficult for a president to fire its head.

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