Sen. Elizabeth Warren (D-Mass.), a former college professor who taught courses on contracts, commercial law and bankruptcy, said Wednesday that she wants to focus on housing supply and private equity in her new role as the top Democrat on the Senate Banking Committee. .
“In the wake of the 2024 election, it is critical that Democratic leadership demonstrate that we can make life more affordable for working people and that we must act urgently to rebuild our middle class,” Warren said in a statement statement to HuffPost.
“For Massachusetts and hardworking families across the country, this new role means a better opportunity to advance solutions like building more homes at lower prices and protecting consumers from private equity greed and special interest scams.”
Democrats will be in the minority in the 119th Congress that begins in January after Republicans won 53 seats in the 100-member U.S. Senate last week. Although they do not wield the gavel, leading members lead their party colleagues during hearings and in the consideration of legislation. They also become default spokespersons for their party on the issues their committee is working on.
For Warren, who has been in the Senate since 2013, the role will be a logical fit.
Warren has an extensive background in financial issues, dating back to her time as a professor at the University of Texas and later at Harvard University. In 2009, she rose to prominence as head of an oversight panel for the Troubled Asset Relief Program, the banking system bailout that resolved the 2008 financial crisis.
She also pushed for the creation of the Consumer Financial Protection Board, a regulatory agency aimed at banks, lenders and other financial institutions.
Warren is not the top Democrat on the banking panel, which oversees financial services as well as housing and urban affairs, as senior Democrats have either been defeated in the 2024 elections or will take the top positions on other committees in the next Congress.
In her statement, Warren praised Sen. Sherrod Brown (D-Ohio), the chairman who lost his re-election bid.
“As Banking Chairman, Sherrod Brown has been a staunch advocate for American workers, the dignity of work and consumer protections. “I admire his leadership and respect his years of passionate public service,” she said.
