WASHINGTON – Consumer advocate Elizabeth Warren, who fought the big banks over predatory lending, credit card fees, overdrafts and other issues, has been named by the Democratic Steering Committee to serve on the Senate Banking Committee when she joins the Senate next year.

Warren fought the banks and credit unions over bankruptcy reform for more than a decade and is widely credited with developing the idea for the Consumer Financial Protection Agency based on years of fighting against banking practices. She was elected to the Senate last month in a victory over Scott Brown, the Massachusetts Republican.

Warren joining the Senate panel will make for interesting politics because all of the Republicans on the Senate Banking Committee signed a letter to President Obama opposing her appointment as director of the new consumer agency she created, forcing her to leave Washington and run for the Senate.

 

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