President Obama said on Friday that an announcement of a nominee to head the Consumer Financial Protection Bureau is coming "soon."
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At a presidential news conference, Obama praised the top contender for the CFPB director position, Elizabeth Warren, a Harvard law professor who oversees the TARP program and helped shape parts of the regulatory reform bill.
For months, consumer advocates have campaigned hard for a Warren nomination to a body she has called for since 2007. The Dodd-Frank law, which was passed in July, created the CFPB; speculation has swirled on when an announcement would be made.
