Press Releases

March 16, 2023

Senator Warren Demands Answers from Former Signature CEO Following Bank’s Collapse

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.) sent a letter to ex-Signature Bank CEO Joseph J. DePaolo about his gross mismanagement that resulted in the bank’s failure and his and Signature Bank lobbyists’ efforts to roll back Dodd-Frank regulations in the aftermath of the 2008 financial crisis.In 2018, the Senate passed the Economic Growth, Regulatory Relief, and Consumer Protection Act, rolling back banking regulations enacted by the Dodd-Frank Act and raising the asset … Continue Reading


March 16, 2023

Warren, King, 19 Senators to IRS and Treasury: Use New IRS Funding to Protect Taxpayer Rights and Increase Tax Enforcement on High-Income Individuals and Large Corporations

Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.) and Angus King (I-Maine) led a letter with 19 other senators to Internal Revenue Service (IRS) Commissioner Daniel Werfel and Treasury Secretary Janet Yellen, expressing strong support for Secretary Yellen’s directive for the IRS not raise audit rates for small businesses or households making under $400,000 annually and that new enforcement funds provided in the Inflation Reduction Act will focus on reducing tax avoidance by … Continue Reading


March 16, 2023

Warren Lambastes Fed Chair Powell for “Astonishing List of Failures” that Contributed to Collapse of Silicon Valley Bank and Signature Banks

Washington, D.C. - United States Senator Elizabeth Warren (D-Mass.), a member of the Senate Banking, Housing and Urban Affairs Committee, sent a 10-page letter to Federal Reserve (Fed) Chair Jerome Powell criticizing his leadership failures at the Fed that directly contributed to the sudden collapse of Silicon Valley Bank Financial Group (SVB) and Signature Bank (Signature) and the significant risk to the banking system and the economy unleashed by those collapses. Earlier this week, … Continue Reading


March 15, 2023

At First Hearing of Armed Services Personnel Subcommittee, Senator Warren Highlights Importance of Access to Child Care, Relief of Civilian Medical Debt, and Increased Oversight of the JROTC Program

Washington, D.C. - Today, chairing her first hearing of the Senate Armed Services Subcommittee on Personnel, Senator Elizabeth Warren (D-Mass.) highlighted the importance of providing adequate child care to military families, addressing failures in the Junior Reserve Officers’ Training Corps, and putting pressure on DoD to exercise its authority to waive civilian medical debt. Transcript: Military and civilian personnel programs in the Department of Defense in review of the Defense … Continue Reading


March 15, 2023

ICYMI: Warren Delivers Speech on Bank Failures and New Bill to Reverse Trump-era Deregulation of Banking Rules

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.), a member of the Senate Banking, Housing, and Urban Affairs Committee, delivered a speech on the Senate Floor about the failures of Silicon Valley Bank and Signature Bank and her new bill introduced yesterday, the Secure Viable Banking Act, which would repeal Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018. The full text of her remarks is available below.Remarks by Senator Elizabeth … Continue Reading


March 15, 2023

Warren, Blumenthal Seek Comprehensive DOJ and SEC Investigation of Silicon Valley Bank Executives After Bank’s Collapse, Aggressive Prosecution of Any Lawbreaking

Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.) and Richard Blumenthal (D-Conn.) sent a letter to the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), calling on them to conduct a comprehensive investigation to determine whether senior executives and other key officials involved in the collapse of Silicon Valley Bank (SVB) met their statutory and regulatory responsibilities or violated civil or criminal laws. “A series of reports revealed that key … Continue Reading


March 14, 2023

Warren, Porter, Dozens of Democratic Lawmakers Introduce Bill to Repeal 2018 Rollback of Critical Dodd-Frank Protections

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.) and U.S. Representative Katie Porter (D-Calif.) led dozens of Democratic lawmakers to introduce the Secure Viable Banking Act, legislation that would repeal Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 following the collapse of Silicon Valley Bank (SVB) and Signature Bank. In 2018, Senator Warren was outspoken about the dangers of passing the Economic Growth, Regulatory Relief, … Continue Reading


March 14, 2023

Senator Warren Calls for Answers from Silicon Valley Bank CEO Following Collapse

Washington, D.C. — U.S. Senator Elizabeth Warren (D-Mass.) sent a letter to ex-Silicon Valley Bank CEO Greg Becker to inquire about his and SVB lobbyists’ efforts to roll back Dodd-Frank rules prior to the collapse of the bank.Five years ago today, the Senate passed the Economic Growth, Regulatory Relief, and Consumer Protection Act, rolling back banking regulations enacted by the Dodd-Frank Act and raising the asset threshold at which a bank is considered and regulated as a … Continue Reading


March 14, 2023

NEW: Senator Warren Calls on Chair Powell to Recuse Himself from Fed Review of Silicon Valley Bank Failure

Washington, D.C. - United States Senator Elizabeth Warren (D-Mass.) released the following statement following the Federal Reserve’s announcement that it will launch an internal review of its supervision and regulation of Silicon Valley Bank after the bank’s failure last week. “Fed Chair Powell’s actions to allow big banks like Silicon Valley Bank to boost their profits by loading up on risk directly contributed to these bank failures,” said Senator Warren. “For the Fed’s inquiry to … Continue Reading


March 13, 2023

Senator Warren in New York Times Op-Ed: Silicon Valley Bank Is Gone. Its Executives Must be Held Accountable and Washington Must Act to Prevent the Next Crisis.

Op-Ed in the New York TimesWashington, D.C. - Following the failure of Silicon Valley Bank (S.V.B.), U.S. Senator Elizabeth Warren (D-Mass.) published an op-ed in the New York Times urging Congress and federal regulators to strengthen weakened rules to avoid another crisis, intensify bank oversight, reform deposit insurance, and hold S.V.B. executives accountable for any malfeasance or mismanagement that led to this failure.Read the full op-ed here and below:No one should be mistaken … Continue Reading


March 10, 2023

Senator Warren Statement on Silicon Valley Bank’s Failure

Boston, MA - U.S. Senator Elizabeth Warren (D-Mass.) released the following statement after the failure of Silicon Valley Bank (SVB): “In the wake of Silicon Valley Bank’s failure, I am receiving updates from the FDIC, and I expect there will soon be a better assessment of how much help is available for customers in Massachusetts and across the nation. SVB executives must be held accountable for any malfeasance or mismanagement that led to this failure. President Trump and … Continue Reading


March 10, 2023

Senator Warren Urges Treasury Secretary to Use Climate Hub to Take Swift, Aggressive Action on Climate Risks

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.), along with Senators Sheldon Whitehouse (D-R.I.) and Ed Markey (D-Mass.) sent a letter to Treasury Secretary Janet Yellen following Climate Counselor John Morton’s departure and urging Treasury to take swift and aggressive action to tackle the climate crisis, which threatens our health, security, and financial system. In April 2021, Treasury announced the formation of a Climate Hub and the appointment of Mr. Morton as Climate … Continue Reading


March 09, 2023

At Hearing, Warren Calls on Space and Strategic Command Leaders to Rein in Wasteful DoD “Wish Lists”

Washington, D.C. - At a hearing of the Senate Armed Services Committee, U.S. Senator Elizabeth Warren (D-Mass.) questioned the Commanders of the United States Space Command and the United States Strategic Command about their use of wasteful unfunded priorities lists, “wish lists” that distort the budget process and result in bloated, wasteful spending. Both Commanders confirmed that they would be submitting “wish lists” to Congress requesting funding in addition to what they requested … Continue Reading


March 09, 2023

Warren, Markey, Keating Secure $350 Million in President Biden’s Budget to Replace Cape Cod Bridges

Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.) and Representative Bill Keating (D-Mass.) applauded the inclusion of $350 million, toward a commitment of $600 million, in President Biden’s budget for the Cape Cod Canal Bridges Project, to replace the aging Bourne and Sagamore Bridges on Cape Cod.“I've been working hard to secure federal funding to replace the Cape Cod bridges and this initial $350 million, toward a commitment of $600 million, is a … Continue Reading


March 08, 2023

ICYMI: At Hearing, Warren Warns Republicans’ Debt Ceiling Hostage Demands Would Cut 2.6 Million Jobs and Trigger Recession

Warren Calls on Congress to Raise Debt Limit, Reject Any Proposal to Cut Funding for Families, and Make Billionaires and Corporations Pay their Fair Share“Republicans… want hardworking Americans to shoulder the burden of keeping the government up and running while billionaires and large corporations get away with paying as little as possible. The debt ceiling hostage demands that they’re making would shrink our economy and it would cost millions of Americans their jobs, while it plunges … Continue Reading


March 08, 2023

Warren, Klobuchar, Hirono Introduce Legislation to Expand Personal Health Data Privacy Protections

Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.), Amy Klobuchar (D-Minn.), and Mazie Hirono (D-Hawaii) introduced the Upholding Protections for Health and Online Location Data (UPHOLD) Privacy Act, legislation that would expand protections for Americans’ personal health data. The legislation would prevent companies from profiting off of personally identifiable health data for advertising purposes, allow consumers greater access to and ownership over their personal health … Continue Reading


March 08, 2023

Warren, Hirono, Senators Raise Concern Over Reports Walgreens May Not Dispense Medication Abortion, Seek Clarity on Company Policy

Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.) and Mazie Hirono (D-Hawaii), along with Senators Tina Smith (D-Minn.), Richard Blumenthal (D-Conn.), Bob Menendez (D-N.J.), and Cory Booker (D-N.J.) sent a letter to Walgreens CEO Rosalind Brewer, expressing concern regarding recent reports that the company would not dispense medication abortion in 21 states where Republican Attorneys General have threatened the company. “As of March 2023, at least 17 states have eliminated all … Continue Reading


March 08, 2023

ICYMI: At Hearing, Senator Warren Criticizes Defense Department Requesting Wasteful, “Wish List” Budgets on Top of its DoD Budget Proposal

Washington, D.C. — At a hearing of the Senate Armed Services Committee, U.S. Senator Elizabeth Warren (D-Mass.) questioned General Bryan P. Fenton, USA, Commander, United States Special Operations Command (SOCOM), about the Department of Defense’s (DoD) requesting millions of dollars in wish lists items on top of their annual budget submissions. Senator Warren also highlighted the need for her bipartisan and bicameral Streamline Pentagon Spending Act to eliminate the requirement to … Continue Reading


March 07, 2023

ICYMI: At Hearing, Senator Warren Calls out Chair Powell for Fed’s Plan to Throw At Least 2 Million People Out of Work

Washington, D.C. — At a hearing of the Senate Banking, Housing, and Urban Affairs Committee (BHUA), United States Senator Elizabeth Warren (D-Mass.) questioned Federal Reserve Chair Jerome Powell on the Fed’s monetary policy plan and its projection that the unemployment rate will rise sharply to 4.6% - more than a percentage point higher than it is today - by the end of the year if the Fed continues to raise interest rates. During the exchange, Senator Warren highlighted that the … Continue Reading


March 07, 2023

At Hearing, Warren Highlights New Data Showing Republican Attempts to Hold Debt Ceiling Hostage Jeopardizes Millions of Jobs

New Moody’s Analysis Shows Republican Spending Cuts Would Cost 2.6M Jobs, Trigger Recession“Our country (has) two options to deal with the national debt. We can raise trillions of dollars in new revenue without touching middle class families. Or we can cave in to Republican blackmail, wreck our economy, cut Medicare and Social Security, and cripple government programs that create jobs and invest in the middle class.”Tune inWashington, D.C. - Today, chairing a hearing of the … Continue Reading

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