Elizabeth Warren to leave consumer financial agency

Reuters News
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Posted: Jul 26, 2011 5:08 PM
Elizabeth Warren to leave consumer financial agency

WASHINGTON (Reuters) - Elizabeth Warren, the law professor who persuaded the Obama administration to create the Consumer Financial Protection Bureau, will step down on August 1 from her role setting up the controversial new regulator, the Treasury said on Tuesday.

Warren will return to Harvard Law School and will be succeeded by a close aide and former banker, Rajeev Date.

Last week, President Barack Obama nominated Ohio's former attorney general, Richard Cordray, to be the bureau's first director.

(Reporting by David Lawder; Editing by Leslie Adler)