Sen. Elizabeth warren News

Trump ‘Probably’ Will Back Lifting Federal Ban on Marijuana

President Donald Trump said last Friday that he was inclined to support a bipartisan effort in Congress to ease the U.S. ban on marijuana, a proposal that would dramatically reshape the nation’s legal landscape for pot users and businesses. The …

Court Upholds Consumer Financial Bureau Structure Over Trump, Business Complaints

The Consumer Financial Protection Bureau director’s job regained a measure of security Wednesday when a U.S. appeals court said the agency head can only be fired for “inefficiency, neglect of duty, or malfeasance in office,” in a blow to the …

Some Banks Already Follow Consumer Bureau’s Softer Arbitration Policy

Senator Elizabeth Warren, who opposes efforts to dismantle a new rule allowing customers to sue financial companies in class actions, released letters on Tuesday from U.S. bank CEOs in which they declined to defend lobbying against the measure and several …

Court Limits Director’s Power But Lets U.S. Consumer Protection Bureau Survive

The Consumer Financial Protection Bureau survived a constitutional challenge and will remain in business, though a federal appeals court took away power from its director and tossed out a $109 million penalty against a mortgage company. The long-awaited decision was …

Senators Hit Firms for ‘Dire Consequences’ Claim on Retirement Advisor Rule

Two influential U.S. lawmakers on Thursday criticized the financial industry for saying in public that a new rule on retirement advice could have “dire consequences,” but then speaking optimistically about it with shareholders. The proposed rule would create a “fiduciary …

Sen. Warren Criticizes Legal ‘Kickbacks’ to Annuity Sales Agents

U.S. Senator Elizabeth Warren said 13 major U.S. life insurers had admitted to using incentives such as expensive vacations and gifts, which could encourage agents “to put their own interests ahead of their clients.” The senator had launched an investigation …

Obama Denies Sen. Warren’s Claim Trade Pact Could Undo Dodd-Frank

President Barack Obama dismissed a liberal senator’s warning that “fast-track” trade authorization being considered by Congress could weaken U.S. financial regulations he helped put in place after the 2007-2008 crisis that triggered the Great Recession. Senator Elizabeth Warren, long a …