Obama names consumer advocate Warren to new post

President Barack Obama named Wall Street critic Elizabeth Warren a particular consultant Friday and tasked her with location up a new agency to look out for consumers in their transactions with banks, mortgage companies and other financial institution.

Profession Warren "one of the country's fiercest promoters for the middle class," Obama said the new agency would end rude practices.

"By no means again will folks be confused or misled by pages of barely comprehensible fine print that you find in accords for credit cards or mortgages or student loans," he said, status alongside Warren and Treasury escritoire Timothy Geithner in the Rose Garden.

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