Elizabeth Warren Is Leaving the CFPB August 1

News comes a week after Obama failed to nominate her to run the agency she created

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Elizabeth Warren is stepping down from her role building out the Consumer Financial Protection Board (CFPB). The Treasury Department announced Tuesday that Warren will turn over her responsibilities as Assistant to the President and Special Advisor to the Secretary of Treasury on the CFPB to her close aide Rajeev Date on August 1, when she'll head back to her teaching post at Harvard Law School. Many who have followed Warren's integral role in revamping the financial regulatory system were surprised last week when President Obama nominated former Ohio attorney general Richard Cordray rather than Warren to be director of the CFPB. Meanwhile, those same supporters are calling on Warren to run for Senate. It's so far unclear exactly what her plans are.

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