Elizabeth Warren

Congress needs to put in place tough rules that make sure that executives pay up when their actions lead directly to a bank failure.

You know, it is clear that giving regulators power to do something is not always enough. Congress needs to force regulators to use it, which is what Senators Cortez Masto, Hawley, Braun's and my bill does.

That is why Senator Cortez Masto, Senator Hawley, Senator Braun, and I introduced a bipartisan bill to ensure that when executives crash their banks and threaten the banking system, those executives are forced to give up their fancy…

So in its postmortem of the Silicon Valley Bank collapse, the Fed found that legislation passed out of this Committee in 2018, led to weakened rules for big banks that were major contributors to Silicon Valley Bank's failure.

We cannot--we will not--let that happen again.

Congress needs to put in place tough rules that make sure that executives pay up when their actions lead directly to a bank failure.

That is why Senator Cortez Masto, Senator Hawley, Senator Braun, and I introduced a bipartisan bill to ensure that when executives crash their banks and threaten the banking system, those executives are forced to give up their fancy…

You know, it is clear that giving regulators power to do something is not always enough. Congress needs to force regulators to use it, which is what Senators Cortez Masto, Hawley, Braun's and my bill does.

SVB, Signature Bank, and First Republic all lobbied Congress to weaken the guardrails, preventing them from making risky bets with depositors' money.

The lessons, I think, are clear. Regulators need to strengthen bank oversight, and Congress must reinstate stronger rules.

So in its postmortem of the Silicon Valley Bank collapse, the Fed found that legislation passed out of this Committee in 2018, led to weakened rules for big banks that were major contributors to Silicon Valley Bank's failure.

We need to strengthen our financial watchdogs' ability to impose fines, ban bad actors from the banking industry, and claw back compensation.

Bank executives who take on too much risk and crash their banks because of their own hubris and greed should not get to ride off into the sunset with their ill-gotten gains.

We cannot--we will not--let that happen again.

We need legislation to expand the banking agencies' authority to ban a bank executive or manager from the industry for failing to properly oversee the bank's operations.

Medicare Advantage plans must be required to meet network adequacy standards for outpatient mental health and substance use disorder care.

CMS should increase its oversight efforts to audit health plan directories to ensure they hold MA plans accountable.

If these Medicare Advantage plans continue to mislead beneficiaries about covered providers, at the same time that they are overcharging taxpayers for this crumby coverage, then we should be taking another look at whether or not MA plans…

So look, what we are really saying here is that it is in the financial interest of these Medicare Advantage plans to discourage beneficiaries from accessing care.

So that is one way it is to the advantage of the Medicare Advantage plan, in order to be inaccurate.

Okay, so it is a way to defraud consumers, to say you have this really big list of people you could go to if you had a problem.

Majority Study Findings: Medicare Advantage Plan Directories Haunted by Ghost Networks.

Medicare Advantage plans must be required to meet network adequacy standards for outpatient mental health and substance use disorder care.

CMS should increase its oversight efforts to audit health plan directories to ensure they hold MA plans accountable.

If these Medicare Advantage plans continue to mislead beneficiaries about covered providers, at the same time that they are overcharging taxpayers for this crumby coverage, then we should be taking another look at whether or not MA plans…