The White House confirmed earlier this morning that the President will appoint Elizabeth Warren to a newly created and still fuzzy position as consumer financial protection — dare I say it? — czar:

The President asked me, and I enthusiastically agreed, to serve as an Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau. He has also asked me to take on the job to get the new CFPB started—right now. The President and I are committed to the same vision on CFPB, and I am confident that I will have the tools I need to get the job done.

The President will announce the appointment in the Rose Garden this afternoon.

David Kurtz

David Kurtz is Managing Editor and Washington Bureau Chief of Talking Points Memo where he oversees the news operations of TPM and its sister sites.