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Elizabeth Warren returns to Harvard

Elizabeth WarrenElizabeth Warren is returning to Harvard Law School after being snubbed by President Obama who decided not to tap her to lead the Consumer Financial Protection Bureau, which she helped to set up.

Warren will be teaching contract law on Mondays and Tuesdays during the fall semester, TheHill.com reports.

The course would interfere with an aggressive Senate campaign that consumer advocates are pressuring Warren to pursue against Sen. Scott Brown (R-Mass.). Liberal groups have already started fundraising for the campaign despite Warren's reluctance to commit.

Warren was recently dealt a blow after three years of championing the CFPB and serving as its special adviser at the Treasury Department. Democrats and consumer advocates were hoping she would serve as the bureau’s director but Obama ultimately picked former Ohio attorney general Richard Cordray for the spot.

Her tough attitude against financial institutions and unrelenting pressure on regulators to tighten control on Wall Street made Warren a target for Republicans who said she was too controversial for the spot and her leadership would deter economic regrowth.

House Financial Services Ranking Member Barney Frank (D-Mass.), the cosponsor of the law that created the agency, said he would prefer to see Warren lead the CFPB rather than run for the Senate, according to RollCall.com.

Frank strongly encouraged Obama to nominate Warren to the post and welcomed a heated confirmation process in the Senate.

"If she were in fact rejected by the Senate, which I would hope she wouldn't be, that would make her a hero," Frank said in July, according to RollCall.com.

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