News Releases

(Washington, D.C.) – Today, U.S. Senator Patty Murray (D-WA) released the following statement on the announcement that Elizabeth Warren has been appointed to help set up the new Consumer Financial Protection Bureau. Senator Murray worked to make sure that this new agency was included in the Wall Street Reform law that was signed into law in July.

“I am very pleased that Elizabeth Warren has been chosen to help set up the new Consumer Financial Protection Bureau that will help protect families, seniors, and small business owners from the financial fraud and scams that have devastated so many over the last few years. Creation of the Bureau was one of the most fundamentally important pieces of Wall Street Reform and getting it up and running must be a top priority.

“I feel very strongly that families in my home state of Washington deserve to be protected from toxic financial products the same way they deserve to be protected from tainted toys or unsafe food.  

“I have heard from so many families and small business owners across Washington state who fell victim to big banks that put profits above principle. I heard from families who lost their homes because they took out mortgages that were misrepresented to them and should never have been offered. I heard from seniors who had to go back to work after falling prey to schemes and fraud that depleted the nest egg that they worked so hard for and thought was secure.  And I told them that I would do everything I could to make sure that this could never happen to them again.

 “I have spoken with Elizabeth and I am confident that she understands that we need to put financial security for our families above profits for Wall Street and big banks. 

“While this is a strong step in the right direction, I believe that families across the country will be best served if this new agency had strong, consistent, and long-term leadership. While I understand that some are concerned about procedural hurdles and filibusters with regard to a nominee for this position, I’m more worried about ensuring the safety and security of Washington state consumers.  That’s why I hope that following her work to stand this Bureau up, Elizabeth Warren will be nominated to run it.”