Elizabeth Warren: People Feel Like the System is Rigged Against Them

Warren - System is RiggedWhy can’t we not elect more people like Elizabeth Warren to political office.  Most politicians talk big during election season, but once elected just become sheep and cater to their party’s agenda.

Warren is a highly intelligent and passionate Senator that’s not afraid to stand her ground and ask the hard questions of those that are unlucky enough to appear at any of her committee hearings. Here’s a list of her committees:

Committee on Banking, Housing, & Urban Affairs

Subcommittee on Housing, Transportation, and Community Development
Subcommittee on Financial Institutions and Consumer Protection
Subcommittee on Securities, Insurance, and Investment

Committee on Health, Education, Labor & Pensions (HELP)

Subcommittee on Children and Families
Subcommittee on Primary Health and Aging

Special Committee on Aging

During her campaign in 2011 she made the following statement:

“There is nobody in this country who got rich on his own, nobody. You built a factory out there, good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You used other people’s money. You built a factory, and it turned into something terrific or a great idea—God bless! Keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.”

Now that is a powerful statement that is direct and to the point.

I don’t think she will run for President against Hillary, but I think she may be able to accomplish more where she is.

Now we need to do our part and elect more politicians like Elizabeth Warren and Bernie Sanders to help them change things in Washington for the betterment of the 99% versus the 1%.

10 Things Elizabeth Warren’s Consumer Protection Agency Has Done for You

Warren Pic 2

Jay Mallin/ZUMA Wire/ZUMA

The new Consumer Financial Protection Bureau is already shielding Americans from shady dealings by mortgage lenders, student loan servicers, and credit card companies.

The Consumer Financial Protection Bureau (CFPB), the watchdog agency conceived of and established by Sen. Elizabeth Warren (D-Mass.) in the wake of the financial crisis, had a hard time getting on its feet. The GOP tried everything it could to hobble the bureau, but to no avail. Over the past couple of years, the CFPB has issued dozens of protections shielding consumers from shady practices by mortgage lenders, student loan servicers, and credit card companies. Here are ten things the CFPB, which was created in 2011, has done to protect the little guy:

1. Mortgage lenders can no longer push you into a high-priced loan: Until recently, lenders were allowed to direct borrowers toward high-interest loans, which are more profitable for lenders, even if they qualified for a lower-cost mortgage—a practice that helped lead to the financial crisis. In early 2013, the CFPB issued a rule that effectively ends this conflict of interest.

2. New homeowners are less likely to be hit by foreclosure: In the lead-up to the financial crisis, lenders also sold Americans “no doc” mortgages that didn’t require borrowers to provide proof of income, assets, or employment. Last May, the bureau clamped down on this type of irresponsible lending, forcing mortgage lenders to verify borrowers’ ability to repay.

3. If you are are delinquent on your mortgage payments, loan servicers have to try harder to help you avoid foreclosure: During the housing crisis, loan servicers—companies that collect payments from borrowers—were permitted to simultaneously offer a delinquent borrower options to avoid foreclosure while moving to complete that foreclosure. New CFPB rules force servicers to make a good faith effort to keep you out of foreclosure. That’s not all: Loan servicers will now face civil penalties if they don’t provide live customer service, maintain accurate mortgage records, and promptly inform borrowers whose loan modification applications are incomplete.

4. Millions of Americans get a low-cost home loan counselor: In Jan 2013, the CFPB required the vast majority of mortgage lenders to provide applicants with a list of free or low-cost housing counselors who can inform borrowers if they’re being ripped off.

5. Borrowers with high-cost mortgages get an outside eye: Lenders who sell mortgages with high interest rates are now required to have an outside appraiser determine the worth of the house for the borrower. If a borrower is going to be paying sky-high prices for a fixer-upper, at least she’ll know it beforehand.

6. Fly-by-night financial players will be held accountable: Part of the CFPB’s mandate is to oversee debt collectors, payday lenders, and other under-regulated financial institutions that profit off low-income Americans. The bureau is preparing new restrictions on debt collectors, and considering new regs on payday loan industry. In the meantime, the bureau is cracking down on bad actors individually.

7. Folks scammed by credit card companies get refunds: In October 2012, the CFPB ordered three American Express subsidiaries to pay 250,000 customers $85 million for illegal practices including misleading credit card offerings, age discrimination, and excessive late fees. This past September, the CFPB ordered JPMorgan Chase to refund $309 million to more than 2.1 million Americans for charging them for identity theft and fraud monitoring services they didn’t ask for.

8. Student lenders face scrutiny: The CFPB oversees private student loan servicing at big banks to ensure compliance with fair lending laws. In December, the agency announced that it will also start supervising non-bank student loan servicers, which are companies that manage borrowers’ accounts. Many of these servicers have been accused of levying unfair penalty fees and making it hard for borrowers to negotiate an affordable repayment plan.

9. Service members get extra protection: In June, the CFPB ordered US Bank and its non-bank partner Dealers’ Financial Services to refund $6.5 million to service members for failing to disclose fees associated with a military auto loan program. In November, the CFPB ordered the payday lender Cash America to pay up to $14 million for illegally overcharging members of the military.

10. Consumers get a help center: If your bank or lender does anything you think is unfair, the bureau has a division dedicated to fielding consumer complaints. The agency promises to work with companies to try to fix consumers’ problems.

This post originally appeared at Mother Jones. —By Erika Eichelberger | Mar. 14, 2014

Why the Third Way hates Sen. Elizabeth Warren

Warren addresses supporters during her victory rally in Boston

The obsessive centrists of the punditverse were abuzz today with praise for supposed centrist Democratic organization Third Way and their grumbling op-ed condemnation of Democratic liberal populism in abstract and “economic populists” like Sen. Elizabeth Warren in particular.

But why would the Third Way, a very reasonable and centrist organization that just wants both parties to get along and agree to cut Social Security, Medicare, and other social programs be so very worked up about Elizabeth Warren, Wall Street reform, and the mere thought of breaking up large banks? Worked up enough to launch an apparently coordinated effort against those things?

ThrdWayTrustees

Oh. I see.

It is not all that shocking that the Wall Street Way put out an editorial in the Wall Street Journal condemning attempts to point out that Wall Street has, long before the economic crisis and now long after, taken the lion’s share of America’s economic wealth and left the rest of the nation’s citizens to eek by on the increasingly meager crumbs. You form an organization made up almost entirely from wealthy Wall Street partners, ex-partners and other equity managers who don’t like the notions of regulation or taxes, that’s pretty much what you’re going to get.

It’s a bit more surprising that any supposedly astute political observer could look at the effort and declare it a “game changer.” Lord, now, that’s just embarrassing.

[ Re-posted from Daily Kos, http://www.dailykos.com/story/2013/12/03/1259899/-Why-the-Third-Way-hates-Sen-Elizabeth-nbsp-Warren# ]

Originally posted to Hunter on Tue Dec 03, 2013 at 01:05 PM PST.

Also republished by Massachusetts Kosmopolitans and Daily Kos.

**By the way, I love this woman.  She is exactly the type person we need in Washington!!