Press Releases
At Hearing, Warren Calls out NORTHCOM, SOUTHCOM, DoD’s Use of Bloated “Wish Lists” on Top of Budget Proposals
“We don't let any other part of government behave like this and for good reason. The budget process is about making tough choices and setting clear priorities, and refusal to demonstrate leadership here I think is a real mistake.”Hearing ExchangeWashington, 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 Northern Command and United States Southern Command about their use of unfunded … Continue Reading
March 23, 2023
Senators Warren, Merkley Criticize Insurance Companies for Medicare Advantage Scare Tactics, “Outsize Profits,” “Exorbitant” Executive Pay Packages
Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.) and Jeff Merkley (D-Ore.) sent letters to the top seven Medicare Advantage (MA) insurers - Humana, Centene, UnitedHealthcare, CVS/Aetna, Molina, Elevance Health, and Cigna - regarding their questionable claims that the Centers for Medicare and Medicaid Services’ (CMS) 2024 proposed Medicare Advantage payment rules would hurt beneficiaries. The lawmakers are asking the insurers to explain why the changes proposed by (CMS would … Continue Reading
March 22, 2023
Warren, Scott Lead Bipartisan Legislation to Establish Independent IG Oversight at the Federal Reserve
Washington, D.C. - Today U.S. Senators Elizabeth Warren (D-Mass.) and Rick Scott (R-Fla.) introduced bipartisan legislation to require a presidentially-appointed and Senate-confirmed Inspector General to the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection. Following the collapse of Silicon Valley Bank (SVB) and Signature Bank and the Federal Reserve’s gross mismanagement and lack of oversight to prevent the situation, this bill will bring … Continue Reading
March 22, 2023
At Hearing, Warren Defends Medicare Advantage Proposed Payment Rule, Pushes Back Against Insurance Industry’s Scare Tactics
Washington, D.C. - At a hearing of the Senate Finance Committee, U.S. Senator Elizabeth Warren (D-Mass.) defended the Centers for Medicare and Medicaid Services (CMS) proposed adjustments to the Calendar Year 2024 Medicare Advantage (MA) payment rates, pushing back against giant insurance companies and their lobbyists who are peddling misinformation to protect their billions in profits and scare beneficiaries into opposing the rule. Senator Warren debunked industry talking points and … Continue Reading
March 22, 2023
Warren to FTC: Closely Scrutinize CVS Health Corp’s Proposed Acquisition of Oak Street Health
Washington, D.C. - United States Senator Elizabeth Warren (D-Mass.) sent a letter to FTC Chair Lina Khan and Commissioners Alvaro Bedoya and Kelly Slaughter urging them to carefully scrutinize CVS Health Corp’s (CVS) pending acquisition of Oak Street Health, Inc (Oak Street). In the letter, the Senator urges the FTC to scrutinize the deal and others like it and oppose any health care acquisition that would threaten competition, increase prices, and reduce the quality of care. She also … Continue Reading
March 22, 2023
Warren, Senators, Call on Fed to Strengthen Rules for Banks with Assets Over $100B
Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.), Tammy Duckworth (D-Ill.), Richard Blumenthal (D-Conn.), Bernie Sanders (I-Vt.), Jack Reed (D-R.I.), Mazie Hirono (D-Hawaii), Ed Markey (D-Mass.), Angus King (I-Maine), Sheldon Whitehouse (D-R.I.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), and Brian Schatz (D-Hawaii) wrote the Vice Chair for Supervision of the Federal Reserve (Fed) Michael Barr, calling on him to exercise the Fed’s authority to apply stronger regulation … Continue Reading
March 21, 2023
After Bank Failures, Warren, Wyden Renew Call for Accounting Regulator PCAOB to Stop Sham Audits of Crypto Firms
Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.), a member of the Senate Finance and Banking Committees, and Ron Wyden (D-Ore.), Chair of the Senate Finance Committee, sent a letter to the Public Company Accounting Oversight Board (PCAOB), calling on the regulator to take action to stop sham audits of crypto firms. The senators’ letter comes after their January 2023 letter to PCAOB, seeking answers from the regulator about its intention to rein in sham audits of crypto firms. … Continue Reading
March 21, 2023
Warren, Van Hollen, Sanders, Whitehouse Urge Treasury to Crack Down on Ultra-Wealthy Abuse of Trusts to Dodge Taxes
Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.), Chris Van Hollen (D-Md.), Bernie Sanders (I-Vt.), and Sheldon Whitehouse (D-R.I.) sent a letter to Treasury Secretary Janet Yellen, urging her to use the full extent of the Treasury Department’s regulatory authority to crack down on the ultra-wealthy’s use of trusts to dodge paying their fair share in taxes. “Billionaires and multi-millionaires use trusts to shift wealth to their heirs tax-free, dodging federal estate and gift … Continue Reading
March 19, 2023
Warren Calls for Inspectors General at Treasury, FDIC, Fed to Conduct Independent Investigation of Bank Collapses and Regulatory Failures, Report to Congress Within 30 Days
Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.) wrote the Inspectors General at the Department of Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Board of Governors of the Federal Reserve, urging them to immediately open a thorough, independent investigation of the causes of the bank management and regulatory and supervisory problems that resulted in this month’s failure of Silicon Valley Bank (SVB) and Signature Bank (Signature), and deliver preliminary … Continue Reading
March 17, 2023
Senators Warren and Brown Call on Sodexo, NY Fed to Guarantee Workers a Fair Contract, Livable Wage
Washington, D.C. — U.S. Senators Elizabeth Warren (D-Mass.) and Sherrod Brown (D-Ohio) sent a letter to Federal Reserve Bank of New York President John C. Williams and Sodexo Group CEO Sophie Bellon to express support for the food service workers of UNITE HERE Local 100 as they begin contract negotiations today.Workers who perform critical food service work in the Federal Reserve Bank of New York (NY Fed) facility have been striving to negotiate a new contract with their employer Sodexo … Continue Reading
March 17, 2023
ICYMI: At Hearing, Warren Highlights Significance of Cape Cod Bridges Funding
Washington, D.C. - At a hearing of the Senate Banking, Housing and Urban Affairs Committee, United States Senator Elizabeth Warren (D-Mass.) highlighted her push to secure funding for the Cape Cod Canal Bridges Project. Her exchange follows the announcement of the President’s Budget which includes $350 million, toward a commitment of $600 million, for the project to replace the aging Bourne and Sagamore Bridges on Cape Cod.During the hearing, Senator Warren exchanged questions with the … Continue Reading
March 16, 2023
ICYMI: At Hearing, Warren Questions Navy Acquisition Nominee on Reining in Unnecessary Spending
Washington D.C. - In case you missed it, at a hearing of the Senate Armed Services Committee, U.S. Senator Elizabeth Warren (D-Mass.) questioned Nickolas H. Guertin, nominee to be Assistant Secretary of the Navy for Research, Development, and Acquisition about how the Department of Defense (DoD) could reform progress payments to prevent price gouging and get programs on schedule. In response to Senator Warren’s questions, Mr. Geurtin committed to evaluating a reform proposal that would … Continue Reading
March 16, 2023
Warren, Menendez Lead Effort Urging Treasury, DOJ to Issue Guidance to Financial Institutions for Implementation of MCC Code for Gun and Ammunition Retailers
Washington, D.C. - U.S. Senators Elizabeth Warren (D-Mass.) and Bob Menendez (D-N.J.) sent a letter to the U.S. Department of the Treasury and the U.S. Department of Justice (DOJ), urging the departments to issue guidance to financial institutions for the full implementation of the new merchant category (MCC) code that the International Organization for Standardization (ISO) approved last year for gun and ammunition stores. The swift application of the MCC code would equip financial … Continue Reading
March 16, 2023
Senator Warren Asks DoD for Action to Reduce Servicemember Medical Debt
Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.), Chair of the Senate Armed Services Committee Subcommittee on Personnel, sent a letter to Department of Defense (DoD) Secretary Lloyd Austin, requesting information from DoD about its efforts to implement recommendations from the Consumer Financial Protection Bureau’s (CFPB) Office of Servicemember Affairs’ Annual Report to address servicemember medical debt.Inaccurate medical bills or debt can affect military readiness … Continue Reading
March 16, 2023
ICYMI: At Hearing, Senator Warren Calls Out AFRICOM and CENTCOM’s Use of Wasteful, “Wish List” Requests on Top of its DoD Budget Proposal
Washington, D.C. - During today’s hearing of the Senate Armed Services Committee, U.S. Senator Elizabeth Warren (D-Mass.) questioned the Commanders of United States Africa Command (AFRICOM) and United States Central Command (CENTCOM) on their use of unfunded priorities lists or “wish lists” in addition to their baseline budget requests. When speaking with Generals Langley and Kurilla, Senator Warren highlighted that “these unfunded priority lists are just another way to game the … Continue Reading
March 16, 2023
ICYMI: At First Hearing of Armed Services Personnel Subcommittee, Warren Highlights Priorities for 2024 NDAA
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 existing failures in the Junior Reserve Officers’ Training Corps, and putting pressure on DoD to exercise its authority to waive civilian medical debt.Senator Warren asked Gil Cisneros, Under Secretary of Defense for Personnel and Readiness, about how … Continue Reading
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