President Obama is taking further measures to get tough on financial behavior that is illegal or unethical. He has selected Elizabeth Warden to head the Consumer Financial Protection Bureau. This organization is one that will fight for the rights of all people. Warden has long been a strong advocate for the middle class.

One of the main efforts of this new entity is going to make sure that the practices of mortgage lenders are straightforward. Another huge effort that will be overseen involves the new credit card laws that have been passed. These laws prohibit unfair rate hikes but if those laws aren’t monitored then problems could arise.

The idea for an entity to oversee such elements of the financial world was spear headed by Warren approximately 3 years ago. It is going to be a reality now and a challenge she is eager to take on. She will report directly to the Treasury Secretary and to President Obama regarding her efforts.

As a watchdog in other efforts, Warren has taken on some of the top dogs of Wall Street. They aren’t happy with the idea that she will be in charge of the Consumer Financial Protection Bureau. In fact, many of them tried to discredit her and to get someone else into that leadership role. Many citizens feel this is a huge step forward for them in regards to preventing their financial rights from being violated. It may take time to get this off the ground but Warren is confident she and this entity can make a positive impact.