Sen. Elizabeth Warren, D-Mass., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg that large banks are "seeking to pay back the gap in the deposit insurance fund with devalued assets."
The senator accused the watchdog of failing to hold Federal Reserve Chair Jerome Powell and others sufficiently responsible for violating rules on investment activities.
Sen. Elizabeth Warren, a trained economist, understands the repercussions of a default and its widespread impact better than most members of Congress. The Kevin McCarthy proposals, she says, are "unpopular."
Sen. Elizabeth Warren, D-Mass., led a group of Democratic lawmakers in writing to executives of large credit card issuers on their late fee policies and costs.