The White House is considering appointing Elizabeth Warren as interim head of the Consumer Financial Protection Bureau, bypassing a likely Senate confirmation battle, according to sources.
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Under the Dodd-Frank regulatory reform law signed July 21, the Treasury Department has the power to appoint a temporary director of the new agency until a permanent one is nominated and confirmed.
By naming Warren interim head, the White House would sidestep — for now — a likely fight over her nomination. President Obama can still choose to formally nominate Warren sometime next year, or select another candidate if she becomes too polarizing.
A Harvard Law professor, Warren is the chairman of the TARP Oversight Committee.
