Banking leader backs Oklahoma native Elizabeth Warren for consumer protection agency head

Roger Beverage, president and CEO of the Oklahoma Bankers Association, reversed his earlier opposition. Beverage called on the president to use his recess appointment powers to name Warren after 44 Republican senators said earlier this month they would oppose any nominee unless changes are made to the bureau's structure.

“I encourage you to wait no longer and give Elizabeth a recess appointment before the July 21st transfer date,” Beverage wrote in a letter delivered last week.

Monday, Beverage said meetings with Warren prompted his change of heart. He said he wrote the letter out of frustration with the politics surrounding the appointment. He said the letter, on OBA letterhead, reflects his personal feelings and not those of the entire association.

“Pick somebody, whoever the hell it is — I suggest Ms. Warren — and let's get on with it,” Beverage said Monday. “This waiting and hanging around and playing political games is driving everybody crazy. In the meantime, we've got enough uncertainty out here around bankers and customers.”

Frank Keating, head of the American Bankers Association, said his organization takes no official position on who should head the newly created Consumer Financial Protection Bureau.