Elizabeth Warren is leaving the Consumer Financial Protection Bureau and returning to Harvard Law School after President Obama last week nominated ex-Ohio Attorney General Richard Cordray to run the new agency.
One of her top deputies, Raj Date, will step in to fill Warren’s role as special advisor to the Secretary of the Treasury effective Aug. 1, leading the CFPB’s day-to-day operations pending Cordray’s confirmation. The agency is not fully independent until a director is confirmed, nor can it exercise all of its powers. Cordray currently serves as head of enforcement at the CFPB.
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