Skip to main content

Warren and SEC Chief in Public Feud

Phil Hall
Jun 14, 2016
Sen. Elizabeth Warren (D-MA) took time away from her Twitter fight with Donald Trump to launch a harsh attack at Securities & Exchange Commission (SEC) Chairwoman Mary Jo White

Sen. Elizabeth Warren (D-MA) took time away from her Twitter fight with Donald Trump to launch a harsh attack at Securities & Exchange Commission (SEC) Chairwoman Mary Jo White. For her part, White returned Warren’s caustic volleys in an uncommonly strident exchange during a Senate Banking Committee hearing.

According to Wall Street Journal coverage of the hearing, Warren started the feud by stating she felt the SEC was moving “in the opposite direction” under White’s leadership by neglecting its mission to protect investors. “A year ago, I called your leadership at the SEC extremely disappointing,” Warren remarked to White. “Today, I am more disappointed than ever.”

White immediately responded to Warren’s comments by saying, “I’m disappointed in your disappointment.”

Warren was chiefly critical of the SEC’s handling of an initiative to streamline transparency in a manner that would avoid what White characterized as “information overload.” Warren insisted this initiative did not aid the investor, but rather was a means of “making life easier for big companies and harder for investors.”

“I just want to know what evidence you have that this is a real problem, that investors have come to you and said, ‘We’re worried about getting too much information,’” Warren sarcastically asked.

White was not amused by Warren and insisted that the initiative was designed to “to improve our disclosure regime for investors, to make it better.” She added that Warren mischaracterized the initiative’s’ goals by “describing our disclosure effectiveness review in a way that’s much narrower than its intent.”

Jun 14, 2016
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020

Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020

Regulation and Compliance
Jun 29, 2021