“The SEC needs to get its act together -– in all sorts of ways, and on all sorts of issues ranging from credit rating agencies to corporate political contributions -– but we can’t sit on our hands on this issue any longer,” Warren said in reference to the executive-pay rules.

She also called for tougher Justice Department prosecution of banks and urged Republican colleagues in Congress to shift from efforts to “hamstring” the Consumer Financial Protection Bureau to giving the agency more power to regulate auto lending.

Warren, who serves on the Senate Banking Committee and is a member of the chamber’s Democratic leadership, faces an uphill battle in getting her agenda addressed by the Republican majority. At the same time, she is in a prominent position to weigh in on legislation being coordinated by Senator Richard Shelby, the Alabama Republican who leads the banking panel.

“If the big banks keep calling the shots, they will own both our economy and our democracy,” Warren said.

First « 1 2 » Next