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Senator Warren

Senator Warren Won't Be Taking Your BS

On Friday, Warren sent a letter to the CEO of the student lender, accusing Sallie Mae of "piling on" government supported benefits while reaping "big fees" from students. "While Sallie Mae is finding unique ways to profit from government programs, its borrowers are paying interest rates that are far in excess of the low cost of funds supported by the U.S. taxpayers," she wrote. The latest letter marks the newest round in a lengthy back and forth between the freshman senator and the student lender. What began as an inquiry into a low-interest line of credit Sallie Mae received from a government-created bank that primarily exists to support housing, has broadened into a critique of high student loan interest rates in general. "If we are serious about investing in our future, we should help our students pay for their education - not find ways to squeeze more profits from them. I believe it is time to align priorities in Washington with those of the American people," she added in her Friday letter.

Senator Warren Wants Banks to Admit Guilt

Following up on an exchange with Comptroller Thomas J. Curry, United States Senator Elizabeth Warren today sent a letter to Chairman of the Federal Reserve Ben Bernanke, Attorney General Eric Holder, and Chairman of the Securities & Exchange Commission Mary Jo White to request the disclosure of any research and analysis done on the costs to the public of settling an enforcement action without requiring an admission of guilt.