I am working on bipartisan legislation to claw back money when executives take big bonuses for blowing up their banks.
Elizabeth Warren
The Public Record
Elizabeth Ann Warren is an American attorney, academic, and politician serving as the senior United States senator from Massachusetts since 2013. A member of the Democratic Party, she has been a prominent advocate for consumer protection, economic equality, and corporate regulation. Warren gained national recognition for her work in establishing the Consumer Financial Protection Bureau and has focused on issues such as student debt relief and healthcare reform during her tenure in the Senate.
Senator Rick Scott and I introduced a bipartisan bill today that would prohibit big bankers from serving as Reserve bank directors.
the Fed heard that message loud and clear, and then it used that message to open up and start to deregulate even further.
I have got an idea, a bipartisan idea that I am introducing with Senator Rick Scott today: get the big bankers off the Federal Reserve boards of directors.
It is our duty to ensure that they are safe, but some of these facilities are in horrendous condition due to the greed of their corporate owners.
This is exactly the kind of deregulatory shift I warned about in 2018, when I opposed Powell's nomination as Fed Chair.
One of the four causes of SVB's failure, that the Fed report identifies, is the 2018 law that Republicans, with the help from some Democrats, passed.
I urge CMS to finalize its proposed rule on ownership disclosure to ensure that consumers can make informed choices.





