Press Releases

July 15, 2013

Sen. Warren Calls on Senate to Vote on Cordray Re-nomination as CFPB Director

Washington, DC - United States Senator Elizabeth Warren today called on the Senate to vote on the re-nomination of Rich Cordray to be Director of the Consumer Financial Protection Bureau (CFPB). "I know that some Republicans and lobbyists think that this filibuster on Rich's appointment can shut down the work of the agency. They think it can shut down the agency and protect the big banks from any meaningful consumer protection rules," said Senator Warren, in her remarks on the floor of the … Continue Reading

July 15, 2013

Remarks by Senator Elizabeth Warren on the Re-Nomination of Rich Cordray to be Director of the Consumer Financial Protection Bureau

As Prepared for Delivery Thank you Mr. President. I rise today to speak about the Consumer Financial Protection Bureau and the re-nomination of Rich Cordray to serve as its director. Several years ago, I began working on the idea for a consumer finance agency because our consumer credit system was badly broken. The laws were inconsistent and often arbitrary, and the basic rules changed for the same kind of product-like a mortgage-depending on what kind of company sold it. People got cheated, … Continue Reading

July 11, 2013

Senators Warren, McCain, Cantwell, and King Introduce 21st Century Glass-Steagall Act

Text of the Legislation Fact Sheet Washington, DC - Senators Elizabeth Warren (D-MA), John McCain (R-AZ), Maria Cantwell (D-WA), and Angus King (I-ME) today will introduce the 21st Century Glass-Steagall Act, a modern version of the Banking Act of 1933 (Glass-Steagall) that reduces risk for the American taxpayer in the financial system and decreases the likelihood of future financial crises. The legislation introduced today would separate traditional banks that have savings and checking … Continue Reading

July 11, 2013

Sen. Warren Urges Reforms to Limit High-Risk Wall Street Practices

WASHINGTON, DC - During a Senate Banking Committee Hearing today, U.S. Senator Elizabeth Warren (D-MA) urged financial regulators to adopt and implement reforms to limit risky activities of big banks on Wall Street that continue to threaten our economy. Senator Warren spoke about the 21st Century Glass-Steagall Act she introduced today with Senators John McCain (R-AZ), Maria Cantwell (D-WA), and Angus King (I-ME). The measure is a modern version of the Banking Act of 1933 (Glass-Steagall) … Continue Reading

July 10, 2013

Sen. Warren Applauds HELP Committee's Approval of Employment Non-Discrimination Act

WASHINGTON, DC - United States Senator Elizabeth Warren today applauded the Health, Education, Labor, and Pensions (HELP) Committee's approval of S. 815, the Employment Non-Discrimination Act (ENDA). "The HELP Committee's bipartisan approval of ENDA is a landmark step toward ensuring no one is fired or discriminated against because of who they are or who they love," said Senator Warren. "Senator Ted Kennedy first introduced ENDA in 1994, and for years was a champion fighting for equal rights … Continue Reading

July 10, 2013

Sen. Warren's Statement on Today's Student Loan Vote

WASHINGTON, DC - United States Senator Elizabeth Warren released the following statement after today's vote on S. 1238, the Keep Student Loans Affordable Act: "I'm frustrated the GOP has once again blocked a sensible compromise proposal to keep interest rates on student loans from doubling. The federal government continues to make billions of dollars in profits off the backs of our students - producing higher profits than any Fortune 500 company - but the GOP's proposal would make another … Continue Reading

July 09, 2013

National Science Foundation Awards Nearly $2 Million to Massachusetts Research Institutions

WASHINGTON, DC - United States Senator Elizabeth Warren, U.S. Representative and Senator-Elect Edward Markey, and U.S. Representatives James McGovern and William Keating today announced the National Science Foundation (NSF) has awarded $1.97 million to Worcester Polytechnic Institute, Woods Hole Oceanographic Institution, and Tufts University for research projects in science and engineering. "These awards from the National Science Foundation are a testament to the great research work underway … Continue Reading

July 08, 2013

Senator Warren's Floor Speech on Student Loans

Senator Elizabeth Warren delivered the following speech on the floor of the United States Senate on Monday, July 8, 2013. Video of Senator Warren's remarks is available here, and the text of her remarks is below: Mr. President, the interest rate on new direct student loans doubled on July 1. Because Congress failed to act, our lowest income students are now paying twice as much in interest on these loans. And while students are paying more, the federal government is boosting its own profits - … Continue Reading

June 27, 2013

Statement from Senator Warren on President Obama's Climate Plan

Senator Elizabeth Warren released the following statement on President Obama's climate plan: "The President's Plan to Cut Carbon Pollution offers smart ideas to address the looming climate crisis that threatens our health, environment and economy. We may be on the cusp of a climate crisis, but we are also on the cusp of innovations in clean energy and energy efficiency, and the President has outlined a plan for action to promote their development. It is astounding that we do not have federal … Continue Reading

June 26, 2013

Whitehouse and Warren Fighting to Protect Consumers from Abusive Lending

Washington, DC - U.S. Senators Sheldon Whitehouse (D-RI) and Elizabeth Warren (D-MA) today introduced the Empowering States' Rights to Protect Consumers Act, a bill that would protect consumers by restoring the ability of states to set limits on credit card and other consumer loan interest rates. Whitehouse has introduced similar legislation in past Congresses. "It's time to stop Wall Street banks and their credit card subsidiaries from taking advantage of struggling families in Rhode Island … Continue Reading

June 25, 2013

Sen. Warren Asks Sallie Mae to Clarify Statements on Federal Home Loan Bank Financing

WASHINGTON, DC -United States Senator Elizabeth Warren today sent a letter to Sallie Mae, asking the company to clarify statements it has made regarding the use of credit from the Federal Home Loan Bank to support its private student loan business. Senator Warren's letter was sent in advance of today's Senate Banking Committee Hearing on regulation of the private student loan industry. In a letter sent yesterday to Federal Housing Finance Agency (FHFA) Acting Director Ed DeMarco, Senator … Continue Reading

June 24, 2013

Sen. Warren Requests Information from FHFA on Federal Home Loan Bank Financing of Institutions Providing High-Interest Private Student Loans

WASHINGTON, DC - In a letter sent today to Federal Housing Finance Agency (FHFA) Acting Director Ed DeMarco, Senator Elizabeth Warren requested information about the role of the Federal Home Loan Banks in providing financing to institutions that offer high-interest private loans to students. The FHFA's Federal Home Loan Bank System was established to fund local and community banks that offer home mortgages. Over the past few years, however, Sallie Mae has been borrowing from a Federal Home … Continue Reading

June 24, 2013

Senator Warren, Congressman Tierney Take Lead on Reauthorizing Funds for Essex National Heritage Area

Washington, DC - Today, Senator Elizabeth Warren and Congressman John Tierney announced legislation to extend the federal government's commitment to the Essex National Heritage Area. "Essex National Heritage Area is a treasure of the Commonwealth and an important part of the local economy in Essex county," said Senator Warren. "I am glad to introduce legislation to reauthorize Essex as a national heritage area to preserve its resources and landmarks so that Massachusetts communities and … Continue Reading

June 21, 2013

Sen. Warren Applauds Health Care Rebates for MA Families

WASHINGTON, DC - United States Senator Elizabeth Warren (D-MA) today applauded Health and Human Services (HHS) Secretary Kathleen Sebelius's announcement that 173,454 Massachusetts families will benefit from a total of $34,250,845 in Affordable Care Act rebates this summer - an average of $457 per family. "These rebates are a great example of how the Affordable Care Act is showing real results for families across Massachusetts," said Senator Warren. "Families deserve access to high quality and … Continue Reading

June 19, 2013

Sen. Warren's Floor Speech in Opposition to Michael Froman's Nomination for U.S. Trade Representative

WASHINGTON, DC - United States Senator Elizabeth Warren (D-MA) delivered a floor speech today opposing the nomination of Michael Froman for United States Trade Representative. Last week, Senator Warren sent a letter calling on Froman to pledge transparency in trade negotiations for the Trans-Pacific Partnership. Video of Senator Warren's speech is available here. The full text of her remarks as prepared for delivery is below: Thank you Mr. President. I rise today to talk about trade … Continue Reading

June 13, 2013

Sen. Warren Calls on U.S. Trade Representative Nominee Michael Froman to Pledge Transparency in Trade Negotiations

WASHINGTON, DC -United States Senator Elizabeth Warren (D-MA) today, in a letter to United States Trade Representative (USTR) nominee Michael Froman, called on his support for increased transparency in trade negotiations for the Trans-Pacific Partnership (TPP). Sen. Warren expressed concerns about the Administration's record of transparency specifically during the Trans-Pacific Partnership negotiations. "If members of the public do not have reasonable access to the terms of the agreements … Continue Reading

June 12, 2013

Senator Warren's Amendment on College Costs Added to the Strengthening America's Schools Act

WASHINGTON, DC - Today, Senator Elizabeth Warren's proposed amendment to the Strengthening America's Schools Act of 2013 was adopted by the Senate Health, Education, Labor and Pensions (HELP) Committee. The amendment would require the Department of Education to establish a pilot program to explore the impact of increased information on college costs and financial aid on students' likelihood to apply to college, to enroll, to apply for financial aid and to receive financial aid. A recent study … Continue Reading

June 12, 2013

Sen. Warren Signs Letter Calling for Independent Investigation into NSA Programs

Sen. Elizabeth Warren joined 12 Senate colleagues on June 12, 2013 in sending a letter to the Privacy and Civil Liberties Oversight Board. The letter calls for an investigation into recently disclosed NSA programs to determine whether they are conducted within the statutory authority granted by Congress and to ensure that American citizens' civil liberties and privacy are protected. The text of the letter is available … Continue Reading

June 11, 2013

Sen. Warren Applauds Passage of Rural Broadband Amendment to Senate Farm Bill

WASHINGTON, DC - United States Senator Elizabeth Warren today applauded the passage of an amendment to the Senate's Farm Bill that would establish a pilot program to fund broadband projects in rural areas. Sen. Warren, who voted in favor of the amendment sponsored by Senator Patrick Leahy (D-VT), highlighted the importance of broadband investments to rural areas in Western Massachusetts. "I'm pleased the Senate passed this amendment to support broadband programs critical to rural areas," said … Continue Reading

June 07, 2013

Sen. Warren Calls for Action to Prevent Student Loan Interest Rates from Doubling

WASHINGTON DC - In a speech delivered Thursday on the floor of the United States Senate, Senator Elizabeth Warren (D-MA) called on Congress to take action immediately to prevent interest rates on federally subsidized Stafford Loans from doubling on July 1st. Yesterday, Republicans blocked legislation sponsored by Senator Jack Reed (D-RI) and Senator Tom Harkin (D-IA) to maintain interest rates at 3.4 percent for two years, despite a majority of Senators voting in favor of the bill. Video of … Continue Reading

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