Today, Senator Ted Kaufman (D-DE), who is retiring from the Senate at the end of this congressional session, was elected to serve as the chairman of the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP). Kaufman, who was first appointed to the Panel last week, was elected chairman in a unanimous vote by the Panel’s members. He replaces Elizabeth Warren, who resigned on September 17, 2010 in connection with her appointment as an Assistant to the President and Special Advisor to the Treasury Secretary.

The Congressional Oversight Panel oversees the Treasury Department’s administration of TARP funds. It issues monthly reports on the program’s progress and effectiveness, and will continue to do so through April 3, 2011.