March 2009: Financial Product Safety Commission Act of 2009 builds on Elizabeth Warren's research

The Financial Product Safety Commission Act of 2009 has been introduced by Congressman Bill Delahunt (D-MA) in the House and by Senators Richard Durbin (D-IL) and Charles Schumer (D-NY) in the Senate. The bills urge Congress to create a government body that would track and regulate consumer financial products, ideas derived directly from Elizabeth Warren’s (Harvard Law School) research and proposals. 

Professor Warren developed a paper on this subject for a 2007 meeting of the Risk working group at the Tobin Project. At the 2008 Government & Markets conference, she presented a paper with the idea of a "Financial Product Safety Commission."