Friday, May 17, 2024

Republicans are claiming that consumers actually love getting late fees

An update on the CFPB's new credit card fee rule
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Warren for Senate

Danielle, do you enjoy getting charged extra fees from credit card companies? Republicans seem to think so.

Let's back up a second. Last year, the CFPB proposed a new rule for credit card companies to cap their late payment fees — no more $30 or $40 fines for being late on a bill unless they can prove that it actually costs that much to process a late payment. This new rule would save Americans an estimated $10 billion a year.

Well, Republicans recently introduced a bill to overturn the CFPB's rule so that the credit card industry can continue squeezing every last dime out of consumers. One House Republican even said "the vast majority of Americans" support these fees.

I don't know about you, Danielle, but I can't think of any consumer who loves fees and loves giving more money to their multi-million-dollar bank. You don't see very many "'I heart emoji Junk Fees" bumper stickers when you're driving around.

Now, this might shock you, so you might want to sit down if you aren't already: it wasn't consumers who were unhappy about this new rule. It was the credit card companies.

In fact, they rolled out a massive campaign to try to stop it, claiming that ending excessive late fees would destroy their industry as we know it. They took the fight to Congress, which got us to the "customers love fees, actually" argument. They also took it to the courts, where a Trump-appointed judge just sided with the bank lobbyists.

This new rule was going to take effect this week, but this judge blocked it.

Let's be clear: Excessive late fees are designed to wring some extra profits out of someone who's already stretched thin. They're a tool that keeps working people down. This fight isn't over — I'm going to keep working to stop big Wall Street firms from ripping people off.

Danielle, will you add your name to say you support the Consumer Financial Protection Bureau's crackdown on credit card junk fees? Together, we can push back against corporate greed.

ADD YOUR NAME

Thanks for being a part of this,

Elizabeth

 
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Thursday, May 16, 2024

re: The Supreme Court and the CFPB

The Little Agency That Could will live to fight another day.
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Warren for Senate

Did you see today's breaking news, Danielle? The Supreme Court followed the law and upheld the constitutionality of the Consumer Financial Protection Bureau's funding structure — so the "Little Agency That Could" will live to fight another day.

Look: I'm not surprised that the CFPB faced this attack, which its opponents have been trotting out for years and years and years. When you have an agency that is this good at protecting consumers, then of course a lot of big banks, a lot of payday lenders, and a lot of Republican politicians will go after it and try to shut it down.

We can all let out a sigh of relief that the CFPB overcame this threat — just like we had to overcome armies of Wall Street lobbyists to get it into law in the first place.

But I wanted to share three thoughts on what led to today's ruling and what could come next:

  1. The fact that this particular case — which had no basis in law — made it all the way up to the Supreme Court is a reminder of just how extreme some of our lower federal courts have become.
  2. We're not fooling ourselves: the CFPB's opponents will come back on the attack. After all, this agency has put over $20 billion back in the pockets of seniors, students, service members, veterans, families struggling to make it to the end of the month, and other consumers who got cheated by financial institutions — so those financial institutions have over 20 billion reasons to want to knock it out the game for good.
  3. And there's still a pending case before the Supreme Court that could gut the ability of all federal agencies to do their jobs on behalf of working people.

So we know the threats that we still face. We know that those forces have got plenty of money and power, and that they'll keep fighting. But so will we. And we've got our passion, we've got our determination, and we've got a consumer agency that is still protecting the American people.

We'll keep having the CFPB's back, and we'll stay in this fight. No matter what.

If you're able to make a donation of $100 or any amount right now to help make sure our government works not just for big banks but for all Americans, then please pitch in and help power the fight.

Thanks for being a part of this,

Elizabeth

 
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Wednesday, May 15, 2024

A new right-wing Super PAC just launched to target me

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Warren for Senate

Danielle, I want to talk about why we're paying close attention to our grassroots fundraising performance right now, and why your next donation would be particularly meaningful today.

Our re-election campaign is funded by grassroots, small-dollar donations. In fact, 99% of the donations we've received this year have been $100 or less. That's a testament to the strength of this truly grassroots-powered movement. And that's exactly the type of campaign I want to run.

But a few updates in our race have made us keep a close eye on our fundraising right now:

  • A new right-wing Super PAC just launched to target me and boost one of my GOP opponents. It's got ties to the Trump administration, Mitch McConnell, and powerful corporate interests — from Big Oil to Big Pharma to the big banks.
  • That same GOP challenger the Super PAC is supporting just recently announced that he'd invested $1 million of his own money into his campaign.
  • A second Republican challenger with ties to wealthy special interests recently announced a campaign to run against me too.

I know our movement is stronger than the special interests supporting my opponents, but our grassroots fundraising model only works if everyone keeps pitching in whatever they can, whenever they can.

So Danielle, can you please pitch in $100 or anything you can today to ensure we can compete and continue fighting for working people in the Senate? We can't afford to underestimate the amount of support my opponents can receive from national Republicans and outside special interests.

 

If you've saved payment info with ActBlue Express, your donation will process automatically:

 
 

Thanks for being a part of this,

Elizabeth

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Tuesday, May 14, 2024

The hottest April ever recorded on planet Earth

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Warren for Senate

It's official, Danielle: April 2024 was the hottest April ever recorded on planet Earth.

That's horrifying enough. But March 2024 was also the hottest March ever recorded. Same deal for February 2024. And so on and so on and so on — 11 months in a row, all the way back to June 2023.

Climate change isn't a distant threat. It's a clear and present danger. And I'm throwing everything I've got into the fight against it.

We must build on what we achieved two years ago, when Democrats passed our nation's biggest-ever investment in fighting the climate crisis, funded in part by my minimum tax on massive corporate profits.

So I just reintroduced the BUILD Green Act, which would devote $500 billion over ten years to electrify and modernize public vehicles and rail and build new electric transportation infrastructure across the country.

It's exactly the type of bold action we need to take against the climate crisis. But it'll be an uphill battle to get it into law. We've got to do this together. Will you add your name, Danielle, to say you support the BUILD Green Act and say you'll fight by my side to pass it?

ADD YOUR NAME

This legislation would accelerate us towards a clean energy future while creating 1 million new jobs, saving $100 billion annually in health damages, and preventing 4,200 deaths per year from air pollution.

Now, you might be thinking, This sounds great — but can it actually happen?

Here's what I've got to say: part of it is already happening.

You see, after I introduced this bill back in 2021, an important piece of it ended up shaping the Bipartisan Infrastructure Law.

It launched the EPA Clean School Bus Program with a historic investment in (you guessed it) clean school buses. I encouraged Massachusetts communities to apply for the funding. And earlier this year, I got to announce the money we'd won to help school districts replace polluting diesel school buses with electric or low-emission school buses.

We've already made real change with ideas in this bill — and we're coming back for more.

This legislation is one piece of how I'm staying in the fight against climate change. Big Oil and their GOP allies want us to bury our heads in the sand, but we see the threat we're up against — and we're taking action.

Add your name if you agree, Danielle: We need to pass the BUILD Green Act to pump billions into the economy, create green union jobs, and safeguard against the worst effects of climate change.

Thanks for being a part of this,

Elizabeth

 
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