hans nichols. >> thank you, mr. president. [inaudible] -- i'll ask my real question. it's now been more than two months since the financial reg reform bill has passed. a centerpiece of that was what you talked about as a consumer financial protection bureau. and yet you haven't named a head. is elizabeth warren still a leading candidate? and if not, are you worried about some sort of senate hurdle for her confirmation? thank you. >> this is a great opportunity to talk to the american people about what i do think is going to be hugely helpful to middle- class families in the years and decades to come, and that is an agency that has been set up, an independent agency, whose sole job is to protect families in their financial transactions. so if you are getting a credit card, we are going to have an agency that makes sure that that credit card company can't jack up your rates without any reason -- including on old balances. and that could save american consumers tens of billions of dollars just in the first couple of years. if you are out there looking for a mortgage -- a

hans nichols. >> thank you, mr. president. [inaudible] -- i'll ask my real question. it's now been more than two months since the financial reg reform bill has passed. a centerpiece of that was what you talked about as a consumer financial protection bureau. and yet you haven't named a head. is elizabeth warren still a leading candidate? and if not, are you worried about some sort of senate hurdle for her confirmation? thank you. >> this is a great opportunity to talk to the american people about what i do think is going to be hugely helpful to middle- class families in the years and decades to come, and that is an agency that has been set up, an independent agency, whose sole job is to protect families in their financial transactions. so if you are getting a credit card, we are going to have an agency that makes sure that that credit card company can't jack up your rates without any reason -- including on old balances. and that could save american consumers tens of billions of dollars just in the first couple of years. if you are out there looking for a mortgage -- a

. -- hans nichols. >> it has now been more than two months since the national regulatory reform bill was passed an essential piece was the consumer financial protection bureau, and yet you have not named a head. is elizabeth warren still a leading candidate and if not, are you worried about some sort of several for her confirmation? >> this is a great opportunity to talk to the american people about what we do think is going to be hugely helpful to middle- class families in the years and decades to come, and that is an agency that has been set up, an independent agency, whose sole job is to protect families in their financial transactions. so, if you are getting a credit card, we will have an agency that make sure that credit card company cannot jack up your rates without any reason, including on old balances. that could save american consumers tens of billions of dollars. just in the first couple of years. if you are out there looking for a mortgage -- and we all know that part of the problem in the financial crisis was that folks were peddling mortgages that were unstable, had a hu

hans nichols. >> thank you, mr. president. [inaudible] -- i'll ask my real question. it's now been more than two months since the financial reg reform bill has passed. a centerpiece of that was what you talked about as a consumer financial protection bureau. and yet you haven't named a head. is elizabeth warren still a leading candidate? and if not, are you worried about some sort of senate hurdle for her confirmation? thank you. >> this is a great opportunity to talk to the american people about what i do think is going to be hugely helpful to middle- class families in the years and decades to come, and that is an agency that has been set up, an independent agency, whose sole job is to protect families in their financial transactions. so if you are getting a credit card, we are going to have an agency that makes sure that that credit card company can't jack up your rates without any reason -- including on old balances. and that could save american consumers tens of billions of dollars just in the first couple of years. if you are out there looking for a mortgage -- a