Frank Keating, the head of the American Bankers Association, late Tuesday reneged on his endorsement of Elizabeth Warren as director for the Consumer Financial Protection Bureau within hours of saying the trade group would "be fully supportive" of her nomination.
In a telephone interview, Keating said his earlier statement to reporters after his first speech before the Women in Housing and Finance was only if Warren was nominated by the president and confirmed by the Senate. The remark was not made in regards to her potential nomination, Keating said.
He said it is up to the president to make that call, and there is always the possibility she could not be confirmed, if for instance she took a contrary position to the law.
Keating reiterated that there are certain reforms that will need to be made to the CFPB, which is a process the ABA intends to be involved in with whoever is confirmed as director.
"My role is to support or oppose … [and] work with her if selected," said Keating.
Earlier in the day, Keating had said "if she is the nominee, we would be fully supportive of her."
Keating, a former governor of Oklahoma, joined the ABA as president and chief executive on Jan. 1.
