March 02, 2021

Warren To Chair Subcommittees on Banking and Finance

Warren will lead the Banking Subcommittee on Economic Policy and the Finance Subcommittee on Fiscal Responsibility and Economic Growth

Washington, DC - United States Senator Warren (D-Mass.) has been named chairwoman of two U.S. Senate subcommittees, the Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy and the Senate Finance Committee Subcommittee on Fiscal Responsibility and Economic Growth. 

She released the following statement:

"I've always used all of my tools in the Senate to fight for change while holding those in power accountable --- and I'm so glad to have two more critical tools. As the chair of two subcommittees tasked with overseeing America's economy, I'll continue to push for racial and economic justice and lasting economic security for families. I'll also use these committees to hold big corporations and their executives accountable and to strengthen our banking, securities, and tax laws --- and make sure they are enforced. Let's get to work!" 

Earlier this month, Senator Warren joined the Senate Finance Committee for the 117th Congress and pledged to address inequality and bring fairness to our tax code by introducing legislation for a wealth tax on fortunes over $50 million. She introduced the bill, the Ultra-Millionaire Tax Act, yesterday.

The Banking Subcommittee on Economic Policy oversees a wide range of matters critical to ensuring the strength and stability of the American economy and Americans' economic security, including economic growth, employment, credit, monetary policy, support for businesses, disaster assistance, and the Financial Stability Oversight Council. The Finance Subcommittee on Fiscal Responsibility and Economic Growth has jurisdiction over policies relating to the health and sustainability of the nation's economic and fiscal outlook.

Warren will use these subcommittees to aggressively advocate for economic policies to improve the lives of American families, workers, and consumers. She will hold hearings and call witnesses and issue letters, reports, and other materials as she continues to hold large corporations, government institutions, and fraudsters accountable. 

Since joining the Senate Banking Committee in 2013, Senator Warren has conducted tough, effective oversight of banks like Wells Fargo that cheat their customers. She has led the fight to protect Dodd-Frank financial reforms, and advocated for rules to limit future bailouts of Wall Street firms like AIG. She fought off oil and gas industry influence peddling, passed a bipartisan law to increase federal employees' retirement savings, and helped return tens of millions of dollars tax free to students cheated by for-profit colleges. She also introduced the Ending Too Big to Jail Act to make it easier to bring criminal charges against bank executives whose organizations defraud consumers; the Accountable Capitalism Act, to ensure that corporations produce broad-based growth that benefits workers and shareholders alike; the Stop Wall Street Looting Act, to fundamentally reform private equity industry and protect workers, investors, and communities from abusive practices; and the American Housing and Economic Mobility Act, to confront our affordable housing crisis and take crucial steps toward closing the racial wealth gap.

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