Elizabeth Warren named as assistant to U.S. President Obama

WASHINGTON, Sept. 17 (Xinhua) -- U.S. President Barack Obama on Friday announced the appointment of Elizabeth Warren to serve as Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau.

Obama this July signed the Wall Street Reform and Consumer Protection Act, which enacts aggressive consumer financial protections and creates an independent Consumer Financial Protection Bureau. Under the Act, the Treasury Department has the authority to get the consumer agency up and running, and Warren will serve as Special Advisor to the Treasury Secretary to lead this effort.

"The bureau will be a watchdog for the American consumer, charged with enforcing the toughest financial protections in history. I am very grateful that Elizabeth has agreed to serve in this important role of getting the bureau up and running and making it as effective as possible," Obama said.

Professor Elizabeth Warren has most recently served as the Leo Gottlieb Professor of Law at Harvard University. Warren was the Chief Adviser to the National Bankruptcy Review Commission, and she was appointed by Chief Justice Rehnquist as the first academic member of the Federal Judicial Education Committee.

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