Elizabeth Warren continues to make progress on the Consumer Financial Protection Bureau. She signed a memorandum of understanding between CFPB and the states, to cooperate on oversight of businesses which provide financial products for consumers. There was substantial concern that a federal agency would kneecap state-based consumer protection efforts; Warren sees the CFPB and the state regulators as complementary. This also allows CFPB to work on oversight of non-bank lenders like payday lenders, private student lenders and mortgage servicers.

In addition, Warren signed up Holly Petraeus, the wife of the General in Afghanistan, to a position that would protect military families from predatory lending. Military families are often the most abused by lenders, many of them which position their services close to bases. I remember Holly Petraeus on a conference call when the Senate was trying to keep auto lenders under the oversight of the CFPB, talking about how military families were routinely ripped off by car salesmen. She has a passion for keeping fraudsters out of the pocketbooks of military families.