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Jun 2 • 8 tweets • 4 min read
The Biden administration will automatically cancel the student debt of more than half a million Americans defrauded by Corinthian College — it’s long-overdue justice.

I’ve been fighting for years, alongside @VP & many advocates, to get these borrowers relief from crushing debt.
In 2014, we forced the @usedgov to acknowledge that students defrauded by Corinthian College had a right to debt forgiveness and launched a campaign to urge the Department to provide that relief.
Through letters, hearings, investigations, campaigns, and work with state officials — including tireless efforts of @VP — we urged more and faster relief for cheated students.
washingtonpost.com/news/business/…
In 2015, I testified at @usedgov’s rulemaking committee, urging them to quickly adopt strong rules for defrauded students. Within a few months, the Obama admin announced new rules that strengthened protections for victims of predatory schools.
During the Trump admin, I fought each step Secretary Betsy DeVos took to limit relief for Corinthian borrowers, exposing her failures and pushing her to strengthen protections for students cheated by predatory schools. warren.senate.gov/oversight/repo…
When I learned that some defrauded borrowers finally receiving relief were hit with huge tax liabilities, I urged @USTreasury to exempt these borrowers from paying taxes on forgiven loans. In 2020, the IRS finally delivered on this. washingtonpost.com/education/2020…
Justice for Corinthian borrowers has been a long, tough fight. But today, half a million Americans — veterans, moms, first-gen students — will finally have this burden of debt lifted. businessinsider.com/student-loan-d…
The Biden administration took a huge step towards righting the wrongs of our broken student loan system.

Next, @POTUS should #CancelStudentDebt to offer life-changing relief to millions of hard working Americans who are still being crushed by student debt.

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More from @SenWarren

Elizabeth Warren Profile picture
May 25
There’s been a lot of debate whether corporate monopolies and price gouging are contributing to inflation when it’s plain as day that’s what’s happening.

The @BostonFed has weighed in. And here’s what they found. Buckle up.
First, they found clear evidence that the economy has become more concentrated: “Industry concentration has increased significantly in the United States in the past 20 years, and this trend has accelerated since the onset of the COVID-19 pandemic.”
Meaning? Concentration results in market power—& corporations use it to jack up prices & profiteer during inflationary times. @BostonFed puts it: “the pass-through of cost shocks into prices..becomes..greater when there's an increase in concentration.”
Read 5 tweets
Elizabeth Warren Profile picture
Apr 27
We've got to break up @WellsFargo. Here's why:
In 2016, Wells Fargo’s fake accounts scandal was exposed. The bank created 3 1/2 million unauthorized bank accounts. But the fine they paid was just a slap on the wrist. And over the next few months, more scandals came to light:
▪️ Wells Fargo forced consumers to buy unneeded car insurance
▪️ They changed the information on customers’ documents without authorization
▪️ And they illegally repossessed cars from service members
Read 5 tweets
Elizabeth Warren Profile picture
Apr 12
Giant corporations are using inflation as cover to raise their prices & boost their profits. In industry after industry, we have too little competition & companies have too much power to increase prices. I've been calling out this corporate profiteering & price gouging. Thread:
The auto and rental car industries are using deceptive practices and consolidation to rake in large profits. I’ve called on the Biden Administration to crack down on their corporate profiteering.
warren.senate.gov/newsroom/press…
Giant private equity firms and corporate landlords are hiking up rents and taking advantage of the housing shortage to squeeze millions out of their paychecks. I’ve demanded that these companies provide answers on their predatory practices.
bloomberg.com/news/articles/…
Read 7 tweets
Elizabeth Warren Profile picture
Feb 15
Giant corporations are making record profits by increasing prices, and CEOs are saying the quiet part out loud: they’re happy to help drive inflation.

American families pay higher prices and corporate executives get fatter bonuses. See for yourself what executives are saying:
.@TysonFoods CEO: "we’re asking [consumers] to pay for inflation.” But Tyson didn't just pass on higher costs, it more than doubled its first quarter profits by increasing beef prices 33% & chicken prices 20%. Tyson is driving higher inflation for profit.
reuters.com/business/retai…
.@Kroger CEO: "A little bit of inflation is always good in our business."

Huge grocery chains like @Kroger are using inflation as cover up to jack up consumer prices to fatten their profits.
cnn.com/2021/06/18/bus…
Read 4 tweets
Elizabeth Warren Profile picture
Nov 18, 2021
America’s largest corporations have rigged the tax code in their favor. This must stop. My new report examines how 70 of the most profitable companies exploit the system & how my Corporate Profits Minimum Tax would crack down on tax dodgers.
nytimes.com/2021/11/18/us/…
In 2020, @DISH raked in $2.6 B in profits, but paid $0 federal income taxes & even got a $223 M net tax refund from the government. Does that sound fair to you? A 15% tax rate would have raised $386 M in revenue from DISH in 2020 alone.
warren.senate.gov/newsroom/press…
Last year, @FedEx pocketed $6.7 B in profits but paid only $483 M in taxes, a 7.2% rate. Under my Corporate Profits Minimum Tax, giant companies like FedEx would have to pay more in taxes. This will raise hundreds of billions in revenue, and it’s just plain fair. Tax Fairness for FedEx Graphic
Read 4 tweets
Elizabeth Warren Profile picture
Oct 5, 2021
Today, I called out the culture of corruption among top Fed officials—officials who make decisions that affect the global economy and lives of all Americans. There is no room for self-dealing.
In his years as Chair, it's unclear why Chair Powell didn't act to prevent behaviors that erode public trust. Once there's a problem, a quick and aggressive response is critical. We need changes at the Fed.
I've called on Fed officials to voluntarily adopt stricter ethics standards & asked @SECgov to investigate recent trades to determine if Fed officials may have broken insider trading laws. I'll continue pushing to enforce vigorous ethics standards.
Read 4 tweets

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