SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
elizabeth warren
Report Outlines How Trump CFPB Gave 'Corporate Pardons' to Companies Accused of Illegally Ripping Off Consumers
Sen. Elizabeth Warren, the CFPB's architect, promised a reckoning when Democrats retake Congress: "If you've been making your profits by cheating American families... you better get ready for some investigations."
Nov 12, 2026
The Trump administration has almost entirely abandoned consumer protection lawsuits even as complaints about corporate abuses surge, according to a Guardian analysis published Thursday.
From mid-2012 to the start of 2025, the US Consumer Financial Protection Bureau (CFPB)—created to fight predatory actions by financial institutions in the wake of the 2008 financial crisis—averaged about 30 enforcement actions a year, helping to recoup over $21 billion for consumers illegally ripped off by banks, mortgage lenders, credit card companies, and other entities.
But since January 2025, when President Donald Trump returned to office, it has launched just two enforcement actions. Meanwhile, it has dropped pending cases against at least 23 defendants—including credit card companies like Capital One, banks like JPMorgan Chase and Bank of America, and Warren Buffett’s business empire Berkshire Hathaway.
Those cases were not abandoned because consumers no longer have complaints about these companies. On the contrary, complaints have increased against 17 of the 23 companies the bureau stopped pursuing. Overall, the number of complaints filed by consumers with the bureau has shot up from nearly 2.7 million in 2024 to 6.3 million this year.
“Consumers are telling the bureau that there is an emergency, and the bureau is not listening or acting on that information,” Erie Meyer, a former chief technologist at the CFPB who helped oversee the creation of its complaint database, told The Guardian. “People are getting screwed twice: first by the company, second by the agency that’s supposed to stick up for them.”
Austin Hinkle, a former senior counsel and section chief at the CFPB, described Trump’s new regime at the bureau as essentially issuing “corporate pardons” to firms that were being investigated under the Biden administration for alleged flagrant abuses.
“People are getting screwed twice: first by the company, second by the agency that’s supposed to stick up for them.”
In February 2025, just a month after his second term began, Trump’s CFPB dismissed a lawsuit filed under the Biden administration accusing Capital One of cheating millions of customers out of more than $2 billion in interest by deliberately concealing higher-interest savings accounts from them, going as far as directing employees not to inform customers about the accounts unless asked. The company agreed to a $425 million class-action settlement in April, considerably less than the $2 billion in lost interest alleged by the CFPB.
Also in February 2025, the bureau dismissed a lawsuit against the mortgage company Vanderbilt, a subsidiary of Berkshire Hathaway. Regulators accused the company of knowingly saddling low-income families with mortgages they could not afford in an echo of the lending behavior that spawned the 2008 housing crisis, which in turn led to the CFPB’s creation. In one case, Vanderbilt granted a mortgage to a family that, by the company’s calculations, would have had just over $57 left in income after monthly expenses. In another, it approved a mortgage for two adults who already had 33 debts in collection.
In March 2025, the bureau also dropped a case accusing three of the nation’s largest banks—JPMorgan Chase, Bank of America, and Wells Fargo—of failing to prevent widespread fraud using their money transfer system, Zelle. Consumers allegedly lost a combined $870 million after the banks failed to stop repeat scammers from using the app. Regulators also alleged that the banks refused to compensate victims even after they provided evidence that criminals had taken over their accounts.
All of these cases were dismissed with prejudice, meaning that a future CFPB cannot reopen any of them.
The administration also dropped other cases involving payday lenders accused of trapping borrowers in cycles of debt, companies allegedly charging delivery drivers fees to access their own earnings, student loan servicers accused of collecting discharged debts, and banks accused of mistreating elderly and disabled veterans receiving federal benefits. It also canceled a settlement with Navy Federal Credit Union over illegal overdraft fees charged to military service members, veterans, and their families.
In addition, the administration has terminated or weakened another 23 existing enforcement orders, often involving companies that had already agreed to compensate victims for misconduct, according to a report by Democrats on the US Senate Banking Committee. That report estimated that reduced enforcement at the CFPB had cost consumers $19 billion during Trump’s first year in office.
The money transfer company Wise, for instance, had a $2 million fine reduced to just $45,000. Other companies like Apple and US Bank were freed from enhanced oversight years ahead of schedule.
Many consumer protection cases and settlements were dismissed while the bureau was run by Russell Vought, an architect of the Heritage Foundation’s far-right Project 2025, which has functioned as a policy playbook for Trump’s second term. He also leads the White House Office of Management and Budget.
Vought has referred to the CFPB as “a woke and weaponized agency against disfavored industries and individuals” and said his goal was to “close down the agency.”
In April 2025, he attempted to fire about 90% of the CFPB’s workforce—an effort blocked by federal courts. Vought stopped serving as acting director in August. The agency is now led by Mark Paoletta, a former chief legal officer for Vought.
Democrats, who retook both the US House of Representatives and Senate earlier this month in a midterm landslide fueled by grievances about high prices and a lack of accountability for powerful corporations, have vowed to investigate the Trump administration's efforts to "dismantle" the CFPB.
Rep. Bill Foster (D-Ill.), who is in line to become the chair of the House Financial Services Subcommittee on Financial Institutions beginning in 2027, told The Guardian that he and his colleagues plan to pursue “subpoenas, investigations, hearings, and, ultimately, legislative action to restore consumer protections in this country and hold accountable those who seek to profit off the most vulnerable Americans.”
Sen. Elizabeth Warren (D-Mass.), who led the charge to create the CFPB in 2010, is expected to take over as chair of the Senate Banking Committee, where she has promised a reckoning for corporate abuses.
As ranking member, she has already confronted Vought directly about his actions while in charge of the CFPB—including during a hearing in July when she questioned him about the bureau’s decision to terminate a settlement with Toyota Motor Credit after the company donated $1 million to Trump’s inaugural fund. The company had been accused of trapping consumers into paying thousands of dollars in some cases for unwanted insurance and warranties, while making the products extremely difficult to cancel and withholding refunds.
Warren has promised that she will prioritize accountability for the financial institutions that have been allowed to run roughshod under Trump.
“Big Tech CEOs, administration officials, Trump family crypto businesses, Wall Street executives, and giant corporations should preserve their documents and prepare to answer tough questions,” an aide to Warren told Politico Monday.
On CBS’ “Face the Nation” Sunday, Warren said, “If you’ve been making your profits by cheating American families and scamming your investors, you better get ready for some investigations, serious ones.”
Keep ReadingShow Less
Wall Street CEOs Told to ‘Preserve Their Documents’ as Warren Prepares Oversight Blitz
Sen. Elizabeth Warren is reportedly preparing to grill bank CEOs and push for a cap on credit card interest rates, among other policies.
Nov 09, 2026
Poised to take over as head of the Senate Banking Committee in the new Congress starting in January, progressive US Sen. Elizabeth Warren of Massachusetts is reportedly preparing to use her powerful role to investigate Wall Street banks and other big corporations accused of profiteering at the expense of working-class Americans.
An unnamed aide to Warren on the banking panel told Politico that "Big Tech CEOs, administration officials, Trump family crypto businesses, Wall Street executives, and giant corporations should preserve their documents and prepare to answer tough questions."
In addition to Warren's planned "oversight blitz," the senator also intends to "pursue affordability-centered policies," including "capping credit card interest rates, cracking down on what she calls 'corporate profiteering,' and pursuing a new bipartisan housing bill with soon-to-be ranking member Tim Scott (R-SC)."
"She’s also planning to continue teaming up with Republican China hawks to restrict exports of advanced AI chips, the aide said," according to Politico. "Nvidia CEO Jensen Huang, a key figure in that push, is also expected to be a top oversight target."
In a social media post on Sunday, Warren argued that Democrats won historic midterm victories "by recognizing Americans’ economic pain, denouncing Washington corruption that has made a rigged economy worse by favoring giant corporations over working people, and by pledging to upend this system."
"Americans need Democrats to deliver now," the senator wrote.
As head of the Senate Banking Committee, Warren would have significant power to demand testimony from corporate executives and advance subpoenas to force companies to hand over documents.
Reuters reported late last week that Warren "will likely probe the Office of the Comptroller of the Currency's August decision to approve a bank charter for President Donald Trump-backed World Liberty Financial."
"She is also likely to investigate the administration's mass firings of financial agency workers and its attempts to shut down the Consumer Financial Protection Bureau, an agency she helped create," Reuters added.
Keep ReadingShow Less
If 'Trump Wants to Be Mr. Veto, Let's Test That Out,' Warren Says of New Red Hat
"The new Democratic majority in Congress should pass bills to make life more affordable and our government less corrupt."
Nov 06, 2026
One of the easiest ways to spot a supporter of US President Donald Trump is a red hat declaring "Make America Great Again," but after a Democratic "tsunami" in the midterms earlier this week, the Republican leader unveiled a new cap that says "VETO."
Sen. Elizabeth Warren (D-Mass.), an incoming committee chair who's long sparred with Trump, responded Thursday by making clear that Democrats are determined to pass far-reaching legislation after securing significant—but not veto-proof—majorities in both chambers of Congress.
"If Donald Trump wants to be Mr. Veto, let's test that out," she wrote on social media, replying to a White House photo of the hat placed next to the president as he signed an executive order declaring the Oval Office and the Cabinet Room national monuments. "The new Democratic majority in Congress should pass bills to make life more affordable and our government less corrupt."
Warren's X post echoed her Thursday op-ed about "why Democrats won the midterms"—as of Friday, they have at least 54 senators and 253 seats in the House of Representatives—and how they now "must deliver... even with Donald Trump in the White House."
"Trump says he welcomes the nickname 'Mr. Veto.' Well, let's test that out by passing legislation the American people support," she wrote for Time, urging Democrats to stop the Iran War, reverse GOP healthcare cuts while expanding coverage, fund universal childcare, and cancel "the tax breaks Trump and the Republicans handed out to corporations, ultramillionaires, and billionaires."
Other priorities for the progressive—who is set to lead the Senate Committee on Banking, Housing, and Urban Affairs—include "bills to ban stock trading by federal officials or crack down on Trump's corruption in plain sight," as well as efforts to make "Big Tech CEOs, Wall Street executives, and giant corporations... answer tough questions" about "ripping off the American people."
Warren isn't alone in urging the party to call Trump's bluff once Democrats have enough votes to pass bills without GOP support in January. Also responding to the White House's hat post, Sen. Tammy Duckworth (D-Ill.) declared Friday, "Let's do it."
"Let's dare him to veto" legislation on the following, Duckworth said:
- Ending the Iran War;
- Canceling $1 trillion in Medicaid cuts;
- Restoring Affordable Care Act tax credits;
- Raising the federal minimum wage;
- Terminating tariffs and issuing refunds to consumers;
- Forcing data centers to pay for their own energy and water; and
- Banning presidential and congressional stock trading.
Democratic victories on Tuesday also generated fresh hope about eventually replacing the US for-profit healthcare system with Medicare for All—a hallmark issue for Sen. Bernie Sanders (I-Vt.), who is expected to chair the Senate Committee on Health, Education, Labor, and Pensions and has been credited with making the party's policies more progressive via his presidential runs and engagement with voters across the country on his Fighting Oligarchy Tour..
As political observers asserted that "Bernie made the path" for progressive candidates who campaigned on economic populism to win key elections this week, Sanders has said in multiple interviews that the incoming Democrat-controlled Congress should pass Medicare for All—which would save over 114,000 lives and $1 trillion annually—and see if Trump vetoes it.
Sen. Chris Van Hollen (D-Md.), a possible 2028 presidential contender who previously led Senate Democrats' campaign arm, similarly argued that despite Trump's threats this week, the new majorities should fight to improve affordability and tax the rich.
"It is essential that we show the American people where we stand," Van Hollen told Politico. "If Trump vetoes it, it will just show people that he's on the side of billionaires."
While he is reportedly not going to challenge Sen. Chuck Schumer (D-NY) to be Senate majority leader post, Van Hollen has also suggested that Democrats should not back the current minority leader without securing his support for a "bold agenda."
Keep ReadingShow Less
Warren Lays Out How Democrats Can Deliver for the Working Class—Even With Trump in the White House
"Democrats won this election by claiming we are on the side of working people, and working people are counting on us to deliver."
Nov 05, 2026
"Americans need Democrats to deliver now, not in two years."
That was US Sen. Elizabeth Warren's (D-Mass.) post-election message to her fellow congressional Democrats on Thursday as she outlined how the party can use its impending control of the House and Senate to deliver real gains for the working class—even with corrupt billionaire President Donald Trump in the White House.
In an op-ed for TIME, Warren argued Democrats succeeded in midterm contests across the country "by being populist economic fighters who were unafraid to call out the corrupt politicians and corporate interests who have rigged the system at the expense of everyone else."
"Now, Democrats must deliver," the progressive senator wrote, urging her party to push Trump to live up to his vow to work with Democrats in the new Congress. "We should force him to do that on the affordability and corruption issues that drove this election—or call his bluff."
Warren laid out what she views as top priorities for the new Democratic majority, including: Ending Trump's illegal war in Iran, cutting costs for working families, moving to cancel Trump-GOP cuts to Medicaid and nutrition assistance, reversing Trump's tax cuts for the rich, and holding "Big Tech CEOs, Wall Street executives, and giant corporations" accountable for "ripping off the American people to make themselves richer."
The senator expressed openness to working with Republicans but wrote that Democrats must be willing to use the filibuster-proof reconciliation process—or eliminate the Senate's 60-vote filibuster entirely—to advance an ambitious agenda.
But what if Trump decides to wield his veto power against Democratic legislation, as he has suggested he could do?
Warren argued that Democrats must "test that out by passing legislation the American people support to make life more affordable and our government less corrupt."
"It would be a breach of faith with the people from South Carolina to Texas, who voted for us to address costs and corruption, to spend the next two years waiting for some future Democratic trifecta to hopefully deliver meaningful change," Warren wrote. "Democrats won this election by claiming we are on the side of working people, and working people are counting on us to deliver."
Another leading progressive in the Senate Democratic caucus, Bernie Sanders (I-Vt.), similarly argued that Democrats' historic midterm wins were "important," but "not enough."
"The American people want change. Real change. And the midterm election confirms just that," Sanders said in a video message, pointing to the urgent need to address out-of-control income and wealth inequality, the starvation-level federal minimum wage, unfettered artificial intelligence, the corrupt campaign finance system, the broken for-profit healthcare system, and more.
The solutions to those crises, he argued, "are not radical," pointing to broad public support for Medicare for All, expanding Social Security, and other progressive proposals.
"What we are talking about now is not only the need to fight for economic justice," said Sanders. "We are fighting to give hope to the American people—to allow them to understand that their government can work for them, can address the crises that they face, and will pay attention to the needs of the men, women and children in our country who are struggling, and not just the very, very wealthy campaign contributors."
"That is, in my view, what Democrats have got to do when they assume power in January," he added. "We can do it. We must do it."
Keep ReadingShow Less
Ahead of Anthropic IPO, Warren Warns AI Giant Could Leave 'Americans Holding the Bag'
"Anthropic is saying that AI models could pose catastrophic or existential risks to humanity. At the same time, Anthropic is planning the largest IPO in history."
Oct 28, 2026
As the artificial intelligence company Anthropic moves toward a historic initial public offering, the top Democrat on the US Senate Banking, Housing, and Urban Affairs Committee sounded the alarm about both public safety and financial concerns in a Tuesday letter to CEO Dario Amodei.
"I write with concern following your company's disclosure that Anthropic's advanced AI models could 'pose catastrophic or existential risks to humanity' at the same time that it seeks to register as a public company and sell shares in November," said Sen. Elizabeth Warren (D-Mass.).
"Anthropic disclosed extensive public safety and financial risks to the Securities and Exchange Commission (SEC) as part of its registration process for an initial public offering (IPO)," she noted. "An IPO would provide Anthropic with broader access to the largest capital markets in the world, allowing it to raise more funding from a larger pool of investors to fuel its rapid growth."
"It will also mean that millions of Americans with retirement accounts invested in index funds will quickly become Anthropic shareholders," stressed the former Harvard University bankruptcy professor. "Public pensions are already heavily exposed to Anthropic and have expressed their concerns about Anthropic's societal risks ahead of its IPO."
According to the SEC paperwork, Anthropic plans to list on the Nasdaq under ticker symbol "ANT." Reports have suggested the company—known for its Claude models—could be valued at between $1.5 trillion and $2 trillion. As NPR noted: "That would put it in league with Elon Musk's rocketry and AI company SpaceX, which was valued at around $1.8 trillion when it listed in June."
Warren pointed out to Amodei that "this massive influx of public capital is likely to catapult the development and deployment of your technology during a time of intense public debate and concern about the risks of your frontier intelligence models."
The senator argued that "the risks presented by this technology demand greater scrutiny before they become intertwined with the public capital markets, which could further escalate both public safety and systemic financial risks."
The "growing public safety concerns" section of Warren's letter cites details from the Form S-1 that Anthropic submitted to the SEC, as well as the CEO's public statements "calling for the need to slow down the development of frontier AI models."
"You warned that 'we still only understand a tiny fraction of what goes on inside these models' and highlighted the 'risk of losing control of AI systems, misuse of AI for cyberattacks and bioterrorism, and serious economic disruption,'" she reminded Amodei. "You further warned that a 'race to the bottom, spurred by commercial incentives, can make these risks more acute.'"
"It is also difficult to trust existing safety tests and evaluations of model test environments in the wake of recent incidents in which models built by frontier AI companies, including Anthropic, have broken through security controls and hacked external systems autonomously," the senator emphasized.
Such incidents have intensified AI experts' warnings and spurred calls for government action, leading to a range of legislative proposals, including in the US Congress—the future control of which will be decided in next week's midterm elections.
Warren highlighted that "in addition to the potentially catastrophic safety risks posed by Anthropic's technology, the company's launch into the public markets could inject extreme volatility and risk into the financial system, which threatens to undermine Americans' economic security."
"Anthropic is projected to be the largest IPO in history," she wrote. "Given its unprecedented size, swings in Anthropic's share price have the potential to roil the broader markets on day one, particularly for companies in the technology sector, and even more acutely for megacap companies with direct financial entanglement with Anthropic."
"Beyond the threats to the financial system that Anthropic's IPO may pose, the company's registration statement disclosures include astronomical projections supported by aggressive assumptions that require further review and due diligence," she added, digging into the company's disclosures.
Warren also sent Amodei a detailed list of questions she wants answered by November 3—before the company goes public.
Keep ReadingShow Less
'Hunger Disaster Unrolling Before Our Eyes': Alarm Grows Over Trump Food Aid Evisceration
“SNAP participation is falling because the Trump administration has intentionally kicked people off of the program—leaving Americans hungry and still struggling to afford food,” said Sen. Elizabeth Warren.
Oct 23, 2026
An analysis published Thursday showed that millions of Americans have lost critical food assistance since President Donald Trump signed last year's massive Republican tax giveaway for the superrich, with soaring grocery prices and cuts to school meals exacerbating the crisis.
According to the Center on Budget and Policy Priorities (CBPP), approximately 5.5 million people, including roughly 2 million children, have lost Supplemental Nutrition Assistance Program (SNAP) assistance since Trump signed the so-called One Big Beautiful Bill Act (OBBBA) in July 2025.
The legislation approved the deepest cuts to SNAP—also known as food stamps—and Medicaid in those programs' histories while slashing billions of dollars from other essential social programs to fund massive tax breaks for billionaires and corporations.
This, at a time when more than 47 million Americans—including 1 in 5 US children—are living in food-insecure households.
The 5.5 million people who have lost SNAP represent 13% of the program's recipients, according to CBPP. The decline is far below projections made by the Congressional Budget Office.
"The declines are especially pronounced in some states," the report noted. "SNAP participation fell in Arizona by nearly 51%... The caseload declines are 20% or more in Arizona, Florida, Illinois, Louisiana, Nebraska, Nevada, and Oklahoma, and—using more recent state data—in Indiana, Kansas, and Texas."
In absolute numbers, Texas saw the biggest loss of SNAP recipients, with 709,435 fewer enrollees. Florida lost 665,935 SNAP enrollees, while Arizona had 408,204 fewer and California lost 333,062.
The CBPP report follows an analysis released Tuesday by Unrig Our Economy and Americans for Tax Fairness that showed how Latino SNAP recipients have been disproportionately affected by food stamp cuts. The groups estimated that 1.5 million Latinos have been kicked off SNAP since Trump signed the OBBBA, with Texas (396,164) and Arizona (200,124) hardest-hit.
More cuts are highly likely, as "starting in October 2027, most states will have to pay between 5-15% of SNAP benefit costs, totaling hundreds of millions of dollars a year in many states," according to CBPP.
"The magnitude of the cost shift and the urgency surrounding error rates incentivized states to take drastic measures to reduce their payment error rates quickly and cut program costs, even if it meant delaying or improperly denying benefits to eligible people," the analysis warns.
The OBBBA's SNAP cuts, combined with stricter eligibility requirements, have forced schools across the country to scale back universal free meal programs amid declining federal reimbursements.
The Washington Post reported Thursday that school districts are experiencing ballooning unpaid lunch bills and struggling to ensure children are fed. In rural Indiana, one district’s share of students qualifying for free or reduced-price meals plunged from 66% to 44% in a year, while its lunch debt has already reached $10,000. In San Antonio, Texas, the number of schools offering free meals to every student under a federal program fell from 48 to 16. Nationwide, the average number of children receiving free school lunches dropped by 600,000 between fiscal years 2025 and 2026.
Making matters worse, many eligible immigrants are not applying for SNAP benefits out of fear it could affect their citizenship prospects.
Food banks and other charities are having to meet needs the government once addressed.
“It’s been getting out of control since last year,” Paco Vélez, president and chief executive of the Feeding South Florida food bank, told the Post. “It’s all created a situation where families are needing more and more assistance.”
The CBPP and Post reports came on the same day as a "Food Misery Index," published by the office of Sen. Elizabeth Warren (D-Mass.), offered a detailed view of how the combined impact of SNAP cuts and skyrocketing grocery prices—exacerbated by Trump policies including tariffs, the deadly immigration crackdown, and the illegal war of choice on Iran—"has stripped more than $22 billion from American families since July 2025."
“SNAP participation is falling because the Trump administration has intentionally kicked people off of the program—leaving Americans hungry and still struggling to afford food,” Warren wrote Wednesday in a letter to US Agriculture Secretary Brooke Rollins.
“Instead of reaching for tools to mitigate these threats to families and working to bring down costs, the administration continues to sit idly by, peddling false narratives about the drop in SNAP participation, while delivering a one-two punch to American families who are struggling to put food on their tables," the senator continued.
"With grocery prices and food insecurity on the rise," Warren added, "I urge the administration to work with Congress to immediately reverse its harmful cuts to SNAP."
Keep ReadingShow Less
Senate Democrats Demand Public Release of Pentagon's Secret Data Detailing Costs of Iran War
"Congress and the public need this information to determine the steps necessary to recover from this debacle," the lawmakers wrote.
Oct 19, 2026
Democrats on the US Senate Armed Services Committee called on the Pentagon on Monday to reveal how much President Donald Trump's Iran War is costing American taxpayers, citing "ongoing efforts to hide the true cost."
US Central Command (CENTCOM) told Congress that the war had cost $43.6 billion as of September 3. But in Monday's letter, Democratic lawmakers noted that this figure excluded the cost of damage caused by Iranian attacks on US bases and other facilities in the region. That estimate remains classified, but lawmakers have seen it.
Sen. Elizabeth Warren (D-Mass.) led the letter, which was also signed by Sens. Mazie Hirono (D-Hawaii), Richard Blumenthal (D-Conn.), Tammy Duckworth (D-Ill.), and Gary Peters (D-Mich.). They called on CENTCOM commander Adm. Brad Cooper to release the estimate publicly.
"There is no rationale for classifying that cost estimate," the lawmakers wrote. "Our allies and our adversaries are, unfortunately, keenly aware of the extraordinary toll that this reckless war has taken on military readiness, and Congress and the public need this information to determine the steps necessary to recover from this debacle."
Iranian strikes have damaged or destroyed hundreds of buildings and structures at US bases across eight Middle Eastern countries, according to a report released in September by the Pentagon's inspector general.
“Despite a lack of clarity and candor from [the Department of Defense], press reports of attacks, video footage, satellite images, and photos leaked to the media by active US service members have painted a dire picture of US bases and facilities damaged and destroyed by Iran,” the lawmakers wrote.
US officials and congressional aides have previously said the damage was far more extensive than the administration had publicly acknowledged and was expected to cost billions of dollars to repair.
More than 50,000 US troops have been deployed to support the Iran War. At least 23 US service members have died, and another 865 have been injured since Trump launched the war. The Pentagon has repeatedly failed to disclose casualties from the war, including dozens of troops injured in Iranian strikes, while moving other casualties out of its official Iran War tally.
At least 1,700 Iranian civilians have also been killed, according to the US-based Human Rights Activists News Agency (HRANA). Iran's Health Ministry reported that more than 26,500 people were injured in the war's first 40 days. HRANA has reported more than 2,200 children injured.
Since the war began in late February, independent analysts have argued that the Pentagon has presented an incomplete picture of the war's costs.
The Center for Strategic and International Studies projected that the war had already cost roughly $40 billion by June, including an estimated $4 billion to $9.4 billion to repair and rebuild damaged US bases. At that time, the Pentagon's most recent public tally was just $29 billion, issued the previous month.
In May, Stephen Semler of the Center for International Policy argued that the Pentagon was also overlooking other critical war costs—underestimating the expense of replacing weapons and repairing bases, and ignoring spending outside the Pentagon, including military aid to Israel, which has joined the US in bombing Iran.
Accounting for those expenses, Semler estimated that the war had cost nearly $72 billion in just its first 60 days—about three times the Pentagon's estimate at the time.
Americans are also paying for the war beyond government spending. Last week, Moody's Analytics chief economist Mark Zandi estimated that the war had cost the average US household nearly $2,000—including $1,100 in higher energy prices, $540 in higher interest rates, and $360 in military costs.
Urging the military to respond to the letter, Warren said on Monday that “Americans deserve to know how much of their money is being burned on Trump’s war with Iran.”
Keep ReadingShow Less
'Illegitimate Show Trial': Warren Condemns Trump's Latest Attack on Fed Gov. Lisa Cook
Sen. Elizabeth Warren said President Donald Trump's formation of a committee to investigate cook is part of his "dangerous quest to illegally take over our nation’s central bank."
Oct 09, 2026
Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, said Friday that President Donald Trump's formation of a new committee to investigate Federal Reserve Gov. Lisa Cook amounts to "an illegitimate show trial in his dangerous quest to illegally take over our nation’s central bank."
"Instead of playing judge in a kangaroo court of his own making, Trump should end the war in Iran and cancel his chaotic tariffs," Warren (D-Mass.) said after the White House announced a "committee of inquiry" to investigate allegations that Cook "made false statements in connection with one or more mortgage instruments." Cook, a frequent target of the president's, has denied the White House's repeated accusations that she committed mortgage fraud.
The White House said that the new committee—which will consist of three officials including Trump economic adviser Kevin Hassett and the Trump-appointed acting director of the Office of Government Ethics—will hold an in-person hearing at the White House on November 5 to "consider the evidence and allegations against Gov. Cook."
In a Friday statement, Cook's lawyers said they "have grave doubts that this 'hearing' is a legitimate one that would conform to the law."
"If it is anything close to objective, the conclusion will be that Gov. Cook did not commit mortgage fraud," said Abbe Lowell and Norm Eisen. "We have engaged with the White House to evaluate whether the process proposed has a possibility of being a genuine one and not simply a box-checking exercise."
Trump attempted to fire Cook last year but was rebuffed by the US Supreme Court after the Fed governor took legal action to prevent her removal. Under federal law, the president can only remove members of the Fed Board of Governors "for cause."
Critics argue that the Trump administration has concocted baseless mortgage fraud allegations against Cook to justify a politically motivated termination.
"Trump is escalating his smear campaign against Lisa Cook while turning the presidency into a personal ATM: crypto schemes, taxpayer-funded propaganda ads, cash for his family—the list could go on forever," Senate Minority Leader Chuck Schumer (D-NY) said Friday. "This has nothing to do with 'ethical concerns.' It’s about Trump trying to seize control of the Fed, something that would mean even more economic chaos for American families."
Keep ReadingShow Less
Warren's Trump Inflation Tracker Reveals Pain Caused by 'Failed Economic Agenda' of GOP
"Donald Trump promised to lower costs on day one. Instead, he has spent his presidency creating an affordability crisis, and now he's calling his self-made crisis a hoax."
Oct 07, 2026
With the US midterm elections just weeks away and control of Congress up for grabs, the top Democrat on the Senate Banking, Housing, and Urban Affairs Committee on Wednesday released a tool tracking inflation under Republican President Donald Trump.
"Donald Trump promised to lower costs on day one. Instead, he has spent his presidency creating an affordability crisis, and now he's calling his self-made crisis a hoax," said Ranking Member Elizabeth Warren (D-Mass.) in a statement. "The Trumpflation Tracker will show families across the country exactly how much of a price they are paying for Trump's and Republicans' failed economic agenda."
The tracker shows not only cumulative inflation since December 2024, the month before Trump returned to office—it's up 5.2%— but also limited job growth during his second term, the impact of his broken promise to cap credit card interest rates, falling wages since he launched an illegal war on Iran in February, mortgage rate increases, and rising household debt.
The tool also highlights the country's affordability crisis, detailing how costs have skyrocketed for childcare, electricity, gasoline, groceries, healthcare, and rent, with the average US household paying over $3,000 more.
As Trump rallies behind efforts to build more energy-sucking artificial intelligence data centers, Warren's tracker shows that residential electricity prices are up 12.7% during this term, with the average US household paying $222 more.
Last year, congressional Republicans passed and Trump signed a budget package that cut government healthcare programs and did not extend expiring Affordable Care Act subsidies. Now, per the new tool, healthcare costs are up 14.6%.
Prices for gas and diesel have skyrocketed since Trump and the Israeli military started bombing Iran, but the US president has dismissed concerns, claiming that paying $4 at the pump is "not very high" and is worthwhile to prevent the Middle Eastern nation from building a nuclear weapon—which the US intelligence community concluded, before the war, that Tehran wasn't trying to do.
Warren's tracker puts the gas surge at 43.7% since December 2024, with an average cost of over $750 per household. The senator plans to have the panel's economic experts update the figures on a monthly basis, as more data becomes available.
The Century Foundation's president, Julie Margetta Morgan, applauded the committee "for doing the math on this," writing on social media that "the Trump administration continues to claim that the economy is strong, but this tracker shows clearly just how much families are being squeezed."
Keep ReadingShow Less
Warren and Fetterman: A Tale of Two Bipartisans
In contrast with Sen. John Fetterman's (D-Pa.) contrarian grandstanding, Sen. Elizabeth Warren (D-Mass.) has spent the last two years (and more) showing Democrats that it’s possible to reach across the aisle without losing your soul.
Sep 19, 2026
Democrats’ chances of taking back the Senate look better than ever, but even if November brings a blue wave, they will still not have control of the legislative and executive branches simultaneously until at least 2029.
The question facing Democratic lawmakers now is how they should conduct themselves during these wilderness years if they want to regain a trifecta in the next presidential election.
Voting down any idea the White House or GOP leadership propose without suggesting any alternative is a bad idea. More than three-quarters of Americans say they want more bipartisanship in Washington, and voters often punish opposition parties they view as do-nothing obstructionists.
Fetterman, take notes: When you vote with Republicans, do it to help working-class families buy homes, not to make sure gas prices keep going up.
But when we say Democrats should be more bipartisan, it’s important to specify what we mean. This moment has provided exemplars of two very different kinds of aisle crossing, which I’ll refer to as John Fetterman Bipartisanship and Elizabeth Warren Bipartisanship.
Sen. Fetterman’s (D-Pa.) bipartisanship is largely performative. He’s constantly appearing on Fox News to scold his fellow Democrats for calling President Donald Trump a fascist, denounce democratic socialism, defend Israel’s devastation of Gaza, or praise the giant monument to Trump’s ego that is the White House ballroom.
And when it’s not performative, it’s actively harmful. Fetterman voted to confirm disastrous Trump appointees like former Attorney General Pam Bondi and former Department of Homeland Security Secretary Kristi Noem—both of whom turned out to be too incompetent even for this administration. He voted against war powers resolutions that could have hastened the end of the costly and unnecessary conflict with Iran. He voted to end last year’s government shutdown, throwing away leverage Democrats could have used to keep healthcare affordable for millions of families. And he voted to keep funding Immigration and Customs Enforcement after agents murdered two Americans in the streets.
It’s a voting record defined by cruelty, contrarianism, and pettiness. In his home state of Pennsylvania, Republicans have rewarded him with a near 80% approval rating, and Trump is actively courting him to switch parties.
Whether he does or not, Fetterman has already betrayed the people who elected him and undermined the party whose donors and campaign arm spent over $100 million on his Senate race.
Thankfully, Fetterman Bipartisanship is not the only alternative to blind obstructionism. Sen. Elizabeth Warren (D-Mass.) has spent the last two years (and more) showing Democrats that it’s possible to reach across the aisle without losing your soul.
Last month, Warren signed a letter to the CEOs of Midwest Real Estate Data—a multiple listing service (MLS) that serves as a database for property listings in the Chicago area—and Compass, the country’s largest brokerage firm. The two had signed an agreement that hides certain listings from members of the public and makes them available only to brokers who pay a subscription fee. This practice, Warren warned, will create a “two-tiered housing market” that benefits insiders while driving up prices for regular people who have to compete for a smaller pool of homes.
Warren wasn’t the first to raise the alarm about this corrupt bargain. Rep. Scott Fitzgerald (R-Wis.) beat her to it by about two weeks. But instead of treating the MRED-Compass deal as a toxic GOP issue, Warren threw her weight behind the probe to stop corporate greed from making homeownership even more prohibitively expensive.
And speaking of affordable housing, she also co-sponsored the 21st Century ROAD to Housing Act—the most consequential federal housing legislation in 30 years. This bill cuts red tape to make home construction cheaper and easier, rewards jurisdictions that build more housing, and bans private equity from buying up homes that should go to families. And as an added bonus, Trump was too focused on disenfranchising minorities to be bothered to sign the thing. It became law without his signature, but his total lack of interest makes it easy for Democrats to claim the legislation as their win.
Fetterman, take notes: When you vote with Republicans, do it to help working-class families buy homes, not to make sure gas prices keep going up.
Warren also joined Sen. Josh Hawley (R-Mo.) to co-sponsor the Break Up Big Medicine Act and co-authored an op-ed with Sen. Bernie Moreno (R-Ohio) calling for a tax increase on the wealthy to save Social Security.
Even if these proposals never become law, they provide Democrats with a powerful argument for 2028: “We’ve been proposing solutions all along. We even tried to work with reasonable Republicans. It’s not our fault they failed, and if you vote for us, they won’t fail again.”
Calling Trump a Nazi or a threat to democracy is a great way to fire up the base, but independents are tired of hearing it. They want to know what Democrats will do to make their groceries, health insurance premiums, day care bills, mortgages, and gas station trips more affordable. We won’t win them over by parroting stale Fox News talking points, but if we can show that we care more about affordability than about partisan bickering, we might just pull it off.
Keep ReadingShow Less
See More
Most Popular
To inform. To inspire. To ignite change for the common good.
News & Opinion
Trending
Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit
Privacy Policy