Sen. Elizabeth Warren (D-MA):
Judicial Watch uncovered evidence that Elizabeth Warren gave false statements under oath regarding Consumer Financial Protection Bureau (CFPB) activities when she served as the agency’s interim director. According to the records, Warren and the CFPB were intimately involved in brokering a 50-state settlement underway with the nation’s largest mortgage lenders related to alleged improper foreclosure procedures. This evidence seems to contradict Warren’s statements before Congress suggesting her office responded to requests for advice, but did not seek to push its views.
During a March 16, 2011, hearing of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, Ms. Warren downplayed her agency’s involvement in the state settlement negotiations: “We have been asked for advice by the Department of Justice, by the Secretary of the Treasury, and by other federal agencies. And when asked for advice, we have given our advice.”
But this does not come close to telling the full story.
Emails obtained by Judicial Watch from several states suggest her agency’s participation was far more intense and aggressive. Warren called emergency meetings by phone and in person with attorneys general nationwide to contribute unsolicited input on the matter. The documents also indicate that Warren’s office insisted on keeping its contact with the state attorneys general secret. For example, in a February 25, 2011, email to the Executive Committee of the National Association of Attorneys General (NAAG), Iowa Assistant Attorney General Patrick Madigan wrote: “Elizabeth Warren would like to present the CFPB’s view on loan modifications.” Two weeks earlier, a similar email was distributed to NAAG’s Loss Mitigation Subgroup on Warren’s behalf. In an email on February 15 regarding that meeting, Madigan points out that “The CFPB wanted me to stress the confidential nature of this briefing.”