Press Releases
Reed-Warren Amendment Offers Greater Certainty and Lower Rates for Students
WASHINGTON, DC - In an effort to keep student loans affordable for working families, the U.S. Senate is scheduled to vote later today on a key amendment by U.S. Senators Jack Reed (D-RI) and Elizabeth Warren (D-MA) and 17 of their Senate colleagues that would lock in reasonable caps of 6.8 percent for undergraduate and graduate loans, and 7.9 percent for PLUS loans, meaning they wouldn't go any higher than they are set at right now. The Reed-Warren amendment would provide greater certainty … Continue Reading
July 19, 2013
Floor Speech on Student Loans
Senator Warren delivered a floor speech on student loans on July 18, 2013. The video of her remarks is here. Full text of the remarks is below. Madam President, it has been eighteen days since the interest rate on new direct student loans doubled from 3.4 percent to nearly seven percent. Students will head off to college in just a few weeks, and Congress still has not found a way to keep their interest rates low. In Massachusetts, our kids, our parents, our and schools are worried. I just want … Continue Reading
July 18, 2013
Sen. Warren's Statement on the Confirmation of Gina McCarthy as EPA Administrator
WASHINGTON, DC - United States Senator Elizabeth Warren released the following statement on Gina McCarthy's confirmation as Administrator of the Environmental Protection Agency: "I am very pleased the Senate has confirmed Gina McCarthy as the next Administrator of the Environmental Protection Agency. Gina is a proud Massachusetts native with an outstanding record of public service. She has dedicated her professional life to the protection of our public health and to the stewardship of our … Continue Reading
July 18, 2013
Warren Helps Secure $150 Million for National Fisheries Disasters in FY14 Subcommittee Bill
WASHINGTON, DC - The Senate Appropriations Committee today announced it has included $150 million for fisheries disasters in its FY14 Commerce, Justice, Science, and Related Agencies (CJS) markup. Senator Elizabeth Warren applauded Appropriations Chairwoman Barbara Mikulski's (D-MD) and the CJS Subcommittee's efforts to provide aid to fishermen in Massachusetts and across the country. "I'm deeply grateful to Chairwoman Mikulski and the Appropriations Committee for approving critical disaster … Continue Reading
July 18, 2013
Sen. Warren Presses Fed Chairman Bernanke on Too Big to Fail, Transparency at Banking Hearing
Video of Senator Warren's Q&A with Chairman Bernanke WASHINGTON, DC - At a Senate Banking Committee Hearing today, United States Senator Elizabeth Warren asked Federal Reserve Chairman Ben Bernanke about rising profits on Wall Street and concerns that banks are loading up on risk. She also pressed Chairman Bernanke whether he agrees with Secretary Lew's recent comments that if we have not ended Too Big to Fail by the end of the year, other options to address the issue should be … Continue Reading
July 16, 2013
Sen. Warren's Statement on Cloture Vote for Rich Cordray's Nomination
WASHINGTON, DC - United States Senator Elizabeth Warren today released the following statement on the Senate's vote to invoke cloture on Richard Cordray's nomination as Director of the Consumer Financial Protection Bureau: "After more than 700 days of waiting, Rich Cordray will finally get the confirmation vote he deserves from the U.S. Senate. Director Cordray has won praise from consumer and industry groups, and from Republicans and Democrats, for his fair and effective approach. With … Continue Reading
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
