Elizabeth Warren News

Senate Bill Seeks More Disclosure of Government Settlements with Firms

Two U.S. lawmakers on Wednesday unveiled a new bill that would force enforcement agencies to provide more details about deals to resolve corporate misconduct by U.S. companies. Senators Elizabeth Warren, the Massachusetts Democrat and a fierce consumer advocate, and Tom …

Sen. Warren Renews Call to Restore Glass-Steagall Walls Between Banks, Insurers

U.S. Senator Elizabeth Warren said banks remain too big to fail even amid the progress that has been made on financial regulation since the 2008 credit crisis. “If Dodd-Frank gives the regulators the tools to end too big to fail, …

Treasury Secretary Lew Urges Congress Not to Change Dodd-Frank Reforms

U.S. Treasury Secretary Jacob J. Lew said he is “stepping on the accelerator” to implement the Dodd-Frank Act and warned lawmakers against trying to change the financial rules overhaul. “Members of Congress who want to alter financial reform before it …

Bipartisan Senate Megabank Bill Would Split Banking from Insurance, Other Risks

A small bipartisan group of U.S. senators on Thursday introduced legislation that would break up Wall Street’s megabanks by separating traditional banking activity from riskier financial services. The bill, called the 21st Century Glass-Steagall Act, has an uncertain future, but …

Insurers, Banks Leveraging Trade Talks to Change Dodd-Frank

U.S. bankers and insurers are trying to use trade deals, which can trump existing legislation, to weaken parts of the Dodd-Frank Act designed to prevent a repeat of the 2008 financial crisis. While the companies say they are seeking agreements …

Sen. Warren Wants Details on ‘Too Big for Trial’ Bank Settlements

An outspoken freshman U.S. senator with a record of taking on Wall Street wants financial regulators and federal prosecutors to provide an economic justification for allowing big banks to settle investigations without admitting any wrongdoing. In a May 14 letter …

U.S Comptroller Defends Settlements with Banks, Hits Critics

A top U.S. bank regulator on Tuesday offered a lengthy defense of entering into settlements with banks, taking a swipe at critics who have questioned whether regulators are aggressive enough in taking banks to trial. Comptroller of the Currency Thomas …

Senate Banking Committee Post Possible for Wall Street Critic Warren

The chances are good, but not guaranteed, that Elizabeth Warren will secure a highly coveted seat on the Senate Banking Committee, a move that would dramatically elevate her campaign against Wall Street excess. Senior Senate Democratic aides, speaking on condition …

Mass. Senate Candidate Warren Continues to Condemn AIG’s Tax Break

U.S. Senate candidate Elizabeth Warren from Massachusetts continues to criticize the government for granting American International Group billions of dollars worth of tax breaks, calling it “a stealth bailout.” Warren, together with fellow members who served on the U.S. Congressional …

Bailout Watchdogs Criticize AIG Tax Deal

Former members of a congressional panel that oversaw bailouts during the financial crisis blasted the Treasury Department this week for quietly granting a tax break worth billions to insurance giant American International Group. The tax break amounts to a “stealth …