Senator Elizabeth Warren thinks she looked like a “commie dictator” in a commercial that ran during the Republican debate Tuesday night and she is not at all happy about this portrayal. Warren, who is a senator from Massachusetts, jumped on Twitter shortly after the ad ran to defend herself. She started her series of tweets asking: “So… Can we talk about that ad that just ran during the #GOPDebate where I look like a Commie dictator?”
According to News Max on November 12, the ad was paid for by the American Action Network. This commercial opened up and you first see some type of federal bureau with some pretty mundane-looking office workers. Those workers were mechanically stamping consumer loan applications “Denied.”
The ad was setting the scene to look like the Consumer Financial Protection Bureau (CFPB), which is the brain child of Elizabeth Warren and run by Richard Cordray, the CFPB director. Warren’s face is prominently displayed on a red banner in the background of the scene as is Cordray’s face on another red banner.
The commercial showed the CFPB as less than ideal. The verbal message also offered a less than stellar portrayal of the CFPB. As you were taking in this visual from the commercial a voice comes through saying:
“They call it CFPB, Washington’s latest regulatory agency, designed to interfere with your personal financial decisions: that car loan you needed, your mortgage, that personal loan. With the Consumer Financial Protection Bureau, those who need help the most are denied. Washington, D.C. controlling your decisions. Limiting your opportunity. Tell Congress to stop the CFPB now, before they deny you.”
Warren took to Twitter and defended the CFPB in a series of tweets, but she didn’t address the commercial’s accusations that the CFPB has their hand in denying loans and other financial products to consumers. Her tweet said:
“Wall Street has a problem: They know the @CFPB is working, & it’s incredibly popular with the families it helps,” she tweeted. The @CFPB has forced the big financial companies to return more than $11B to people they cheated on credit cards, mortgages, etc. Thousands of dollars on a TV ad is nothing compared to the money the big banks save if their GOP buddies go after the @CFPB. Wall Street knows if they soften @CFPB support, the GOP will feel better undercutting the agency in closed-door deals. So here’s my message to Wall Street & their GOP buddies: we’re ready to fight back to protect the @CFPB.”
So what does this bureau really do? According to Boston.com, the CFPB investigates financial misconduct of companies offering shady deals when it comes to mortgages, student loans and credit cards. It was created in 2011 as part of the Dodd-Frank financial reform act. The Consumer Financial Protection Bureau is an independent agency. As Warren said above she’s “ready to fight back to protect the CFPB.”