There are a lot of people out there who want Warren to be the premanent head of the CFPB.

According to the FTC, it’s debt collectors.

Not really, but the media is getting excited about the fact that Elizabeth Warren and JP Morgan Chase CEO Jamie Dimon will both speak to a U.S. Chamber of Commerce meeting on Wednesday.  It’s not even a debate.

New York Times editorial asks the question:

Dodd-Frank is no cure-all, but properly implemented and enforced, it would close dangerous regulatory gaps. That won’t happen if Republicans get their way — and they will, unless the fight is engaged in no uncertain terms. Democrats in Congress need to unite behind the law and Obama officials should denounce the antireform effort for what it is: an attempt to weaken Dodd-Frank on behalf of those who brought us the financial crisis.

Rep. Lynn Westmorland explains them: 

Warren scolds lawmakers.  Essentially she says they should leave the CFPB alone and focus their wrath on big banks.

I personally don’t care but this blog has  a list for those that do.

She also met with local credit union officials in California.

From Felix Salmon’s column today on microfinance:

I’m looking forward to talking about all of these issues at my Microfinance USA panel on May 24. US microfinance in particular is going to be a hot topic of discussion: do we need entities like Grameen America to parachute in and try to reinvent the wheel? Or should we be working harder to bolster and grow existing institutions, like my own? For the record, my answers to the posed questions are that borrower-owned institutions are always preferable to lenders owned by rich shareholders, in any country; and that microsavings, small dollar consumer loans, and alternative payday products are all absolutely part of microfinance.

Why not  healthy mix of “borrower-owned” firms and investor-owned firms?

The editorials are starting to flow:

Warren, a 61-year-old attorney and law professor, is the best-qualified person for this job. She has strong, well-informed pro-consumer views and a trained eye for the sharp practices on Wall Street. She knows her stuff and has been a leading voice in efforts to reform the financial services industry, particularly risky lending practices.

QC Holding’s Tom Linafelt responds to negative coverage in the Columbia Missourian: 

Research shows that most borrowers understand how much their loans cost and pro-actively choose to borrow instead of their other, real-world options. Most borrowers meet their payback obligations and use the product responsibly, as a short-term solution.

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Eliminating short-term lending would hurt Missouri and its communities and devastate families who depend on jobs and important, money-saving credit options supported by the industry.

That’s what I’m talking about!