Washington (CNN) – President Barack Obama plans to name Elizabeth Warren as a special adviser to help set up a new consumer protection agency created under the Wall Street reform bill, according to sources who spoke on condition of not being identified by name.
A Democratic official said Wednesday that Warren's title would be Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau.
In her role, Warren would report directly to Obama and to Treasury Secretary Tim Geithner while leading the administration's work in starting up the new bureau, the official said.
In addition, a senior administration official said Obama will name Warren to the advisory position this week.
The move would allow Warren to help set up the new consumer protection agency, but bypass a potentially difficult Senate confirmation battle if she were nominated to formally run the agency.
Updated 7:56 p.m.