Obama Speech Video Sept. 17, 2010: Elizabeth Warren Special Assistant to the President Announcement

President Barack Obama, joined by Treasury Secretary Timothy Geithner (L), announces Elizabeth Warren (R) as the new head of the Consumer Financial Protection Bureau in the Rose Garden at the White House in Washington on September 17, 2010. UPI/Kevin Dietsch Photo via Newscom

Here is the Obama speech video from Fri. Sept 17, 2010. President Barack Obama announces the appointment of Elizabeth Warren as Assistant to the President and Special Adviser to the Secretary of the Treasury on the Consumer Financial Protection Bureau in a statement to the press at the White House Rose Garden. Speech time is 1:30 p.m. ET. Watch live stream video below. Thereafter check back for the full replay video, transcript text and photos.

UPDATE: Video and transcript are below.

Article continues below.

Click here to watch the full video on CSPAN.

Click here to read the transcript.


Live web-feed video above. The event can also be seen on CNN Live and at WhiteHouse.gov. The event can also be seen via the White House iPhone app, a free download.

The appointment of Harvard Law School Professor Elizabeth Warren to create the Consumer Financial Protection Bureau (CFPB) — part of the Wall Street reform legislation — does not require Senate confirmation, as she will not be a bureau chief. As the Washington Post notes, this imposes some limitation on her powers; she will not be a part of the new Financial Stability Oversight Council, and she will not represent the CFPB on the board of the Federal Deposit Insurance Corp.

In prepared remarks released to the press, President Obama will say of the new bureau:

“It will reinforce the new credit card law we passed banning unfair rate hikes, and ensure that folks aren’t unwittingly caught by overdraft fees when they sign up for a checking account. It will give students who take out college loans clear information and make sure lenders don’t cheat the system.

“And it will ensure that every American receives a free credit score if they are denied a loan or insurance because of that score. Basically, the Consumer Financial Protection Bureau will be a watchdog for the American consumer, charged with enforcing the toughest financial protections in history.”

See also Elizabeth Warren’s post on the Official White House Blog: Fighting to Protect Consumers

See also:

Today’s complete itinerary is here: President Obama official schedule and guidance, Sept. 17, 2010.

YouTube Link

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Obama Speech Video Sept. 17 2010: Elizabeth Warren, Special Assistant to the President Announcement

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