The Hill News

The chairman of the Senate Banking Committee on Tuesday hedged when asked whether or not he would back Elizabeth Warren to head the newly-created Consumer Financial Protection Agency (CFPA).

Warren, a Harvard Law School professor who chaired the panel that scrutinized the federal bank bailouts, is a leading candidate for the position. Sen. Chris Dodd (D-Conn.), who has previously doubted Warren's confirmability before the Senate, appeared to offer support for her but qualified his statement by saying that she needed to prove herself at hearings should President Obama nominate her.

{mosads}"If the president wants to name her and it goes through the hearing process, then fine, she'll have my support," Dodd told the Hartfor! d Courant editorial board. "But she has to tell me more than just she's a good consumer advocate or that's she's got a great campaign."

Speculation has ramped up in recent days that Warren could be named to the position. Last Thursday, she met with White House senior advisers David Axelrod and Valerie Jarrett about her potential nomination, but no decision was made.

The Washington Post reported Wedne! sday that before that meeting, Warren met with the Financial Services Roundtable, an influential group of banking lobbyists. 

The consumer protection agency was created by the Wall Street reform legislation that Dodd shepherded through the Senate.

Obama has been pressured by liberal activists and lawmakers to appoint her as the nation's chief consumer guardian, praising her tenure as chairwoman of the Congressional Oversight Panel, which reviewed the Troubles Asset Relief Program (TARP). Some have criticized Dodd for doubting her confirmability, arguing he was trying to derail her nomination.

Dodd again on Tuesday questioned whether or not she could garner enough support in the Senate and said he wants to know if Warren is capable of managing a federal agency.

"My simple question about Elizabeth is: Is she confirmable?" Dodd said. "It isn't just a question of being a consumer advocate. I want to see that she can manage something, too! ."

Dodd's office could not be reached for further comment.