Sen. Elizabeth Warren (D-Mass.), a former university professor who taught courses on contracts, commercial law and bankruptcy said Wednesday she intends to focus on housing supply and private equity in her new role as the top Democrat on the Senate Banking Committee.
“In the aftermath of the 2024 election, it’s powerfully important for Democratic leadership to show that we can make life more affordable for working people and to act with urgency to rebuild our middle class,” Warren said in a statement to HuffPost.
“For Massachusetts and hard-working families nationwide, this new role means a better chance to advance solutions like building more housing to lower prices and protecting consumers from private equity greed and special interest scams.”
Democrats will be in the minority in the 119th Congress starting in January after Republicans won 53 seats in the 100-member U.S. Senate last week. While not wielding the gavel, ranking members lead their fellow party members in hearings and during consideration of legislation. They also become default spokespeople for their party on the issues their committee works on.
For Warren, who has been in the Senate since 2013, the role will be a natural fit.
Warren has an extensive background in financial issues, going back to her college professor days at the University of Texas and later Harvard University. In 2009, she rose to prominence as the head of an oversight panel for the Troubled Asset Relief Program, the banking system bailout that resolved the financial crisis in 2008.
She also pushed for the creation of the Consumer Financial Protection Board, a regulatory agency focused on banks, lenders and other financial institutions.
Warren is not the most senior Democrat on the banking panel, which oversees financial services and also housing and urban affairs, since more senior Democrats were either defeated in the 2024 election or are taking the ranking member slots on other committees in the next Congress.
In her statement, Warren praised Sen. Sherrod Brown (D-Ohio), the chairman who lost his reelection bid.
“As Banking Chairman, Sherrod Brown has been an unwavering advocate for American workers, the dignity of work, and consumer protection. I admire his leadership and respect his years of passionate public service,” she said.
