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Elizabeth Warren has some vocal support among the law school crowd, which is urging the White House to nominate her as director of the new Bureau of Consumer Financial Protection established by the Dodd-Frank Act. A group of 140 law professors sent a letter to President Obama last week asking him to nominate Warren, a professor at Harvard Law School and the chairwoman of the Congressional Oversight Panel reviewing problems in the financial markets and their regulatory system. In a separate letter sent two days earlier, 162 of Warren’s former law students from Harvard, the University of Pennsylvania Law School and the University of Texas School of Law endorsed her for the post. Some on the political right and the financial services industry oppose Warren, in part because of her tough stance on large banks and her position that they helped perpetuate the financial crisis with abusive lending practices. Pundits have said that her opponents are fearful of placing skilled crusader at the helm of the new agency. “To succeed in its mission, the Bureau of Consumer Financial Protection must communicate effectively with consumers in order to understand the need for regulation or enforcement and to implement those legal actions,” the former students wrote. “We have witnessed Professor Warren’s extraordinary ability to explain complex things in a simple way.” The letter notes that Warren would make the bureau’s work open to the public and accessible to all Americans. The law professors’ letter notes that Warren has a deep understanding of the issues at play. She’s a nationally known expert on consumer finance who has written more than 120 articles and books — including a book about personal finance for middle-class families. “This scholarly expertise, along with her work as Chair of the Congressional Oversight Panel for TARP, has given Professor Warren a broad, and perhaps unique, perspective on why effective consumer protection is essential for the safety and soundness of the financial system and the health of the American economy,” the professors wrote. Karen Sloan can be conacted at [email protected].

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