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News Now

Washington
Warren praises CUs may head to Banking Committee
WASHINGTON (11/16/12)--In her victory speech the night of the Nov. 7 federal elections--now on YouTube and being circulated by the Massachusetts Credit Union League--Senator-elect Elizabeth Warren (D-Mass.) thanked credit unions for their support.

In including credit unions in her long list of thank yous, Warren said, ""Credit unions…yes…love my credit unions.'' She added that "all of you have my back and I promise you, I'll have your back."

Warren, a Harvard Law School professor who conceived and helped set up the Consumer Financial Protection Bureau (CFPB), was endorsed by the Massachusetts league.

According to Politico and other publications, Warren has received support from key Senate lawmakers, including Banking Committee Chairman Tim Johnson (D-S.D.), to join that panel if she is interested. The committee has oversight of credit unions and other financial institutions.

When announcing the league endorsement in July, Massachusetts league President Daniel Egan said Warren "has been a strong and vocal proponent of the benefits that credit unions provide to working families across the Commonwealth and around the country."

He added, "It is our hope and expectation that Elizabeth will be a United States Senator who will ensure that credit unions and their members have an advocate in the Senate because the big banks in this country already have enough of them."

The Credit Union National Association worked closely with Warren while she was setting up the CFPB and has developed a good working relationship with her.

Warren defeated Sen. Scott Brown (R-Mass.) 54%-46%.
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