elizabeth warren

Elizabeth Warren Likely Headed to Senate Banking Panel

Senate Majority Leader Harry Reid wants Massachusetts Sen.-elect Elizabeth Warren to join the Banking Committee. A Senate Democratic official confirmed Tuesday that Warren's appointment was likely, but cautioned nothing was final until the Democratic caucus approves the move.

10 Common Money Problems That Need Fixing Now

The election may have put economic issues like the fiscal cliff in the spotlight, but there are still plenty of consumer-level financial pain points that need fixing. Here are 10 of the most common consumer money problems.

Holy Smokes! Some People Spend 25% of Their Income on What?!

As far as bad habits go, smoking is a popular example of one to give up. Now there's a new report that makes a dramatic financial case for quitting: In New York State, low-income smokers are spending roughly one-quarter of their income on cigarettes.

2011's Biggest Financial Heroes and Villains

In a year saturated with big financial headlines, identifying the fiscal heroes and villains is bound to be an exercise in oversimplification. But DailyFinance is going to try: Herewith, we present our picks for the best and the worst of 2011.

Elizabeth Warren Shoots Back on GOP 'Class Warfare'

Earlier this week, Rep. John Fleming (R-La.) complained that he only netted $600,000 in 2010, and thus couldn't afford to pay higher taxes: "Class warfare never created a job," said Fleming. Former Obama administration official Elizabeth Warren, now running for the Senate, is ready with the counter-argument.

Consumer Advocate Elizabeth Warren Entering Massachusetts Senate Race

Consumer advocate and Democrat Elizabeth Warren will enter the Massachusetts Senate primary for a shot at challenging incumbent Republican Scott Brown for his seat. Warren will formally declare she's running on Wednesday, Kyle Sullivan, a Warren spokesman, said. She plans to greet commuters in Boston and make other stops during the day across the state.

What New Consumer Agency Will Do for You

On Thursday, the Consumer Financial Protection Bureau officially opens for business. Even as the political fight continues over just how potent the agency will be, at root, its mission is to make clear the prices and risks of financial products and services. Here's where it will focus its early efforts:

Predatory Lenders Put U.S. Soldiers in the Crosshairs

Members of America's military face threats around the world every day, but it's a domestic threat that has the top brass on the offensive on the home front -- predatory lenders. Here's how the Department of Defense is fighting back.

Warren Defends New Consumer Bureau

The Obama administration official assembling the new federal agency overseeing credit cards, mortgages and other financial products is rebuffing...

Decoding the GOP Argument Against Punishing Banks

Almost as soon as regulators proposed a settlement for the mortgage mess that would require banks to obey the law, the banks' Republican allies began trying to weaken it through obfuscation and confusion. Read on for some plain English translations of their arguments against the settlement.

Kobliner, Ketchum Among Obama Appointees for 'Financial Literacy' Council

New York Times bestselling author Beth Kobliner and Richard Ketchum, CEO of the Financial Industry Regulatory Authority (FINRA) are among the dozen people President Barack Obama appointed to a new administration council designed to improve what the President calls "financial literacy" among American consumers.

Warren Accepts Role as Consumer Agency Adviser

Elizabeth Warren said Friday that she had accepted the position of creating a consumer financial protection agency, and vowed the agency would put an end to "tricks and traps" in consumer lending. In a White House blog post this morning, Warren said she "enthusiastically agreed" to take the position of assistant to the President and adviser to Treasury Secretary Timothy Geithner.

Obama May Name Elizabeth Warren as Interim Head of Consumer Agency

President Barack Obama may appoint Elizabeth Warren as the interim head of the new consumer protection bureau, avoiding a possibly contentious Senate confirmation. The White House is exploring ways that Warren could run the bureau without having to go through a confirmation battle, The New York Times reported without naming its sources.

America's Bailout Program Benefited Foreign Countries, Oversight Panel Finds

America's bailout program, which was intended to help U.S. banks, greatly helped foreign banks as well, a Congressional watchdog group has concluded. The American government flooded the financial markets with money, aiming to help as many banks as possible, while most foreign nations targeted funds to save individual institutions, often those with no major U.S. operations.

Obama Signs Financial Reform Legislation Into Law

After more than a year of wrangling by Congress to craft legislation, President Obama signed the Wall Street and Consumer Protection Act into law Wednesday at ceremony in Washington. The new regulations are viewed by many analysts as the most sweeping reforms to hit the financial industry in more than half a century.

Banks Face Stiff Headwinds, Time to Take Some Profits

Bank stock have been on a tremendous run over the last few months. But changes in the banking world, from souring commercial real estate loans to higher interest rates, suggest that the sector could come under pressure in the second half of the year.