Majority Press Releases
Brown: Crypto Risks And Scams Put Americans' Money At Risk
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Protecting Investors and Savers: Understanding Scams and Risks in Crypto and Securities Markets.”Sen. Brown’s remarks, as prepared for delivery, follow:Financial fraud and scams have always been with us. In fact, they’re older than money itself. Criminals have always found inventive ways to cheat pe… Continue Reading
July 27, 2022
Brown: Working Families Must Not Be Crushed in Our Fight Against Inflation
WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Open Market Committee (FOMC) announced an increase in interest rates:“When Wall Street and corporations run the economy, no matter what goes wrong, working people always pay the price,” said Brown. “Interest rate hikes alone, without action from the politicians who enabled the corporate concentration and outsourcing of su… Continue Reading
July 26, 2022
Brown, Colleagues Reintroduce Legislation to Fight Discrimination from Financial Institutions
WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Sens. Raphael Warnock (D-GA), Bob Menendez (D-NJ), Catherine Cortez-Masto (D-NV), Cory Booker (D-NJ), Tina Smith (D-MN), Chris Van Hollen (D-MD), Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Kirsten Gillibrand (D-NY), Alex Padilla (D-CA), Tammy Duckworth (D-IL), Jeff Merkley (D-OR), Ed Markey (D-MA), Tammy Baldwin (D-WI), Sheldon Whitehouse (D-RI), Dianne Fe… Continue Reading
July 21, 2022
Brown: Too Many Americans Are Priced Out of the Housing Market
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Priced Out: The State of Housing in America.”Sen. Brown’s remarks, as prepared for delivery, follow:You can’t open up a paper or turn on the news without hearing about housing - how much it costs, and how hard it is to find. The headlines tell the story.“The Housing Shortage Isn’t Just a Coastal Cri… Continue Reading
July 14, 2022
Brown: Export Controls Are Crucial to Weaken Russia
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Advancing National Security and Foreign Policy Through Export Controls: Oversight of the Bureau of Industry and Security.Sen. Brown’s remarks, as prepared for delivery, follow:Today we welcome our witness, Alan Estevez, who serves as Under Secretary for Industry and Security at the Department of Com… Continue Reading
July 14, 2022
Brown Applauds Herrnstadt Confirmation to EXIM
WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Senate confirmed Mr. Owen Herrnstadt to be a Member of the Board of Directors of the Export-Import Bank of the United States.“I applaud Owen Herrnstadt’s confirmation to the Board of Directors of the Export-Import Bank,” said Brown. “Mr. Herrnstadt has decades of experience advocating for American workers and manufacturers,… Continue Reading
July 13, 2022
Brown, Colleagues Urge Stronger Fed Ethics Rules
WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, joined Sen. Raphael Warnock (D-GA), Sen. Jon Ossoff (D-GA), Sen. Jeff Merkley (D-OR), and Sen. Kirsten Gillibrand (D-NY), in a letter to Chairman Jerome Powell of the Board of Governors of the Federal Reserve urging stronger investment and trading policies for Federal Reserve officials to improve accountability and transparency. In the letter, the Senators highlighted shortc… Continue Reading
July 13, 2022
Brown Urges Support For Michael Barr Ahead of Confirmation Votes
WASHINGTON, D.C. - Today on the Senate Floor, U.S. Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, called on his colleagues to support the nomination of Mr. Michael Barr to be a Member and the Vice Chair for Supervision of the Board of Governors of the Federal Reserve System. After Barr is confirmed, the Federal Reserve will be fully staffed for the first time in nearly a decade.Video of Senator Brown’s remarks is available here.Sen. Br… Continue Reading
July 12, 2022
Brown: Transit is All About the Dignity of Work
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Advancing Public Transportation under the Bipartisan Infrastructure Law: Update from the Federal Transit Administration.”Sen. Brown’s remarks, as prepared for delivery, follow:Last Thursday, I invited our witness, FTA Administrator Nuria Fernandez, to Columbus to see the excitement in the community … Continue Reading
June 30, 2022
Brown Blasts the Supreme Court’s Decision in West Virginia v. EPA
WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement in response to the Supreme Court’s decision in West Virginia v. EPA.“Let’s be clear about what is at the heart of the matter - the Supreme Court has sided with corporate power and polluters over the people and the planet. Stripping the Environmental Protection Agency of its ability to regulate under the Clean Air Act hobbles the agency’s abilit… Continue Reading
June 23, 2022
Brown Statement on Wall Street Stress Test
WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Federal Reserve released its Dodd Frank Act Stress Test (DFAST) results. Stress tests are assessments performed by the Federal Reserve to ensure banks are strong enough to withstand a downturn in the economy without setting off another financial crisis.“It is past time for the Fed to implement rigorous stress tests and strong capital … Continue Reading
June 23, 2022
Brown Holds NFIP Reauthorization Hearing With FEMA
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Reauthorization of the National Flood Insurance Program: Administration Perspectives.”Sen. Brown’s remarks, as prepared for delivery, follow:Flooding is the most common and most costly natural disaster facing families, businesses, and communities across the country. And climate change is only making… Continue Reading
June 22, 2022
Brown Urges Chair Powell to Prioritize Working Families
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “The Semiannual Monetary Policy Report to Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:Today we’ve seen the fastest job growth in decades, faster growth than China, and the lowest unemployment levels in 50 years.But when Americans see the price of gas and groceries going up, week … Continue Reading
June 16, 2022
Brown: We Need to Protect Communities and Families From Rising Flood Risks
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Reauthorization of the National Flood Insurance Program: Protecting Communities from Flood Risk.”Sen. Brown’s remarks, as prepared for delivery, follow:Flooding is the most common and most costly natural disaster facing families, businesses, and communities across the country. And our failure to com… Continue Reading
June 14, 2022
Brown: Don't Jeopardize Working Families' Financial Futures
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Considering the Index Fund Voting Process.”Sen. Brown’s remarks, as prepared for delivery, follow:My colleagues and I often say the U.S. markets are the envy of the world. Our strong and diverse economy and the rule of law benefit families and workers saving for the future.The breadth of our markets… Continue Reading
June 8, 2022
Brown Applauds the Confirmation of Todd Harper for NCUA Chairman
WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Senate confirmed Todd Harper for Chairman of the National Credit Union Administration (NCUA). He is the first openly gay man to lead a federal financial regulatory agency.“I applaud the confirmation of Todd Harper for Chairman of the National Credit Union Administration,” Brown said. “Mr. Harper understands the vital role t… Continue Reading
June 8, 2022
Brown Advances Fed and SEC Nominees
WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, held an executive session to vote on the nominations of: The Honorable Michael S. Barr for Vice Chairman for Supervision of the Federal Reserve, and Mr. Jaime E. Lizárraga and Mr. Mark T. Uyeda to be members of the Securities and Exchange Commission.The Honorable Michael S. Barr was advanced by a vote of 17-7. Mr. Jaime Lizarraga and Mr. Mark Uyeda were advanced… Continue Reading
June 8, 2022
Brown Applauds the Release of Fannie Mae and Freddie Mac's New Equitable Housing Finance Plans
WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Housing Finance Agency (FHFA) released Fannie Mae and Freddie Mac’s Equitable Housing Finance Plans for 2022-2024.“Access to housing remains unequal. I applaud Director Thompson for requiring Fannie Mae and Freddie Mac to show how they will make sure they are meeting the needs of all homebuyers and renters, and… Continue Reading
June 7, 2022
Brown Presses FSOC to Protect Consumer Data
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Treasury Secretary Janet Yellen to request a review by the Financial Stability Oversight Council (FSOC) of financial institutions’ consumer data activities and their potential threat to U.S. financial stability and security. In the letter, Brown highlighted the risks that data sharing poses when bad actors have access to sensitive consumer data.“I have long expressed serious c… Continue Reading
May 31, 2022
Brown: Wells Fargo Has Again Failed Its Customers and Workers
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Wells Fargo CEO Charles Scharf laying out the megabank’s history of consumer abuses and gross mismanagement. In the letter, Brown urged Wells Fargo to finally right past wrongs and live up to the promises made to the American people following their fake accounts scandal.“Recent revelations of racial disparities in mortgage lending, fake job interviews for mi… Continue Reading
