Majority Press Releases
Ahead of Confirmation Vote, Brown Urges Colleagues to Support Sandra Thompson for FHFA Director
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 Ms. Sandra Thompson for Director of the Federal Housing Finance Agency (FHFA). Ms. Thompson will be the first African American woman to be confirmed as Director of FHFA. Video of Senator Brown’s remarks is available here.Sen. Brown’s remarks, as prepared for delivery, follow:Mr./Madame … Continue Reading
May 18, 2022
Brown: Energy-Efficient Housing Will Lower Housing Costs and Fight Climate Change
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 “Addressing Climate Change with Energy-Efficient and Resilient Housing.”Sen. Brown’s remarks, as prepared for delivery, follow: First, I want to wish a quick and full recovery to our colleague Senator Van Hollen, who has been so active on these issues. We are all thinking of him and his family this m… Continue Reading
May 12, 2022
Brown Applauds the Confirmation of President Biden’s Federal Reserve Slate
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm President Biden’s Federal Reserve slate, including The Honorable Jerome H. Powell for Chairman of the Federal Reserve:“I congratulate Chair Powell, Vice Chair Brainard, Governor Jefferson, and Governor Cook on their confirmations and look forward to working with them to make our economy work for everyone,” said Brown. “All four h… Continue Reading
May 11, 2022
Brown Applauds the Confirmation of Dr. Philip Jefferson to the Federal Reserve Board
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm Dr. Philip Jefferson to be a Governor of the Federal Reserve. Jefferson will be the fourth Black man to serve as Governor:“I congratulate Dr. Jefferson on his confirmation to the Federal Reserve Board. Dr. Jefferson is one of the country’s leading thinkers on the economics of poverty and will be a critical voice on the Fed. He wi… Continue Reading
May 11, 2022
Brown Applauds Julia Gordon’s Confirmation to HUD
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm Julia Gordon to be Assistant Secretary for Housing and to lead the Federal Housing Administration.“I congratulate Julia Gordon on her confirmation. With decades of experience and support from every corner of the housing community, she has the expertise to help keep families in their homes and to make housing more affordable for e… Continue Reading
May 10, 2022
Brown Applauds the Historic Confirmation of Dr. Lisa Cook to the Federal Reserve Board
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm Dr. Lisa DeNell Cook to be a Governor of the Federal Reserve:“I congratulate Dr. Cook on her historic confirmation to the Federal Reserve Board. She will be the first Black woman to ever serve on the Federal Reserve Board. She will bring an invaluable perspective while implementing the Federal Reserve’s dual mandate and protectin… Continue Reading
May 10, 2022
Brown: FSOC Should Protect Workers Not Wall Street
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 Financial Stability Oversight Council Annual Report to Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:Today we will hear testimony from the Secretary of the Treasury on the Financial Stability Oversight Council’s Annual Report for the first time in four years. This is the first time Secretary Yel… Continue Reading
May 5, 2022
Brown Applauds Interagency Community Reinvestment Act Rule
Today, 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 Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) together proposed updates to modernize and strengthen implementation of the Community Reinvestment Act (CRA).“The Community Reinvestment Act was a landmark civil rights law, passed by Congress to begin to undo the shameful legacy … Continue Reading
May 5, 2022
Brown: Student Debt Made a Lie Out of the American Dream
Today, 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 “Examining Student Loan Servicers and Their Impact on Workers.” On Tuesday, Chairman Brown convened a listening session to hear from borrowers across the country about their experiences with student loan debt and its impact on their lives, including how crippling student debt undermines the dignity of work.Last … Continue Reading
May 3, 2022
Brown Applauds FHFA for Recommitting to Collecting Language Preference and Counseling Information
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement applauding the Federal Housing Finance Agency’s (FHFA) announcement that it would require mortgage lenders to collect key information on a borrower’s language preference and housing counseling history as part of the mortgage loan application.“Today’s action from FHFA is a long-overdue step to ensure that our housing system serves all eligible homebuyers… Continue Reading
May 3, 2022
Brown Hosts Listening Session on How Student Loan Debt Undermines the Dignity of Work
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, hosted a listening session with student loan borrowers from around the country. The borrowers shared their experiences with student loan debt and its impact on their lives, including how crippling student debt undermines the dignity of work.“Student loan debt is preventing the hard work of a generation of Americans from paying off,” said Senator Brown at this morning’s listening s… Continue Reading
April 26, 2022
Brown Blasts Republican Attempts to Stonewall Dr. Lisa Cook’s Confirmation
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding the confirmation of votes of Governor Lael Brainard to be Vice Chair of the Federal Reserve Board, and the cloture vote of Dr. Lisa Cook, nominee to be a Member of the Board of Governors of the Federal Reserve System.“I congratulate Governor Lael Brainard on her confirmation to be Vice Chair of the Federal Reserve Board. I look forward to working with h… Continue Reading
April 26, 2022
Brown: Finally, the CFPB Is On the Side of Workers
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 Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:Welcome back Director Chopra.American workers need a strong Consumer Financial Protection Bureau on their side. With you at the helm, they finally have one again.We know … Continue Reading
April 21, 2022
Brown, Murray, Colleagues Urge Investigation of Training Repayment Agreements Saddling Workers With Debt
WASHINGTON, D.C. - Today, Sen. Sherrod Brown, Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Sen. Patty Murray, Chair of the U.S. Senate Health, Education, Labor, and Pensions Committee, led their colleagues in a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra urging the agency to investigate training repayment agreements (TRAs), which raise significant concerns about consumer and worker protection.TRAs require workers to pay back their… Continue Reading
April 19, 2022
Brown, Colleagues Applaud Biden Admin's Actions on Student Loan Program
WASHINGTON, D.C. - Today, Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Senators Dick Durbin (D-IL) and Elizabeth Warren (D-MA) released the following statement after the Biden administration announced it will take action to address problems with debt cancellation under the income-driven repayment (IDR) program.“This is an important step to ensure the effectiveness of our student loan cancellation programs and to enable low-income… Continue Reading
April 15, 2022
Brown Statement On The Vice Chair Of Supervision Nominee
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 President Biden announced the nomination of Michael Barr for Federal Reserve Vice Chair for Supervision: “Now more than ever, we need a full Fed Board - including a Vice Chair of Supervision. The Vice Chair of Supervision plays a critical role in protecting our financial system and must prioritize strong financial regulation, and … Continue Reading
April 14, 2022
Brown, Warren, Durbin Urge Review of Student Loan Program Mismanagement
WASHINGTON, D.C. - Today, Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Senators Dick Durbin (D-IL), and Elizabeth Warren (D-MA) sent letters urging the Consumer Financial Protection Bureau (CFPB) and Department of Education (ED) to review student loan servicers’ reported mismanagement of the income-driven repayment (IDR) program, leading to significant harm for low-income borrowers.“A recent NPR investigative report found the IDR… Continue Reading
April 14, 2022
Brown Applauds EXIM Bank For Its Continued Commitment to Domestic Manufacturers
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 board of the Export-Import Bank (EXIM) voted unanimously and with bipartisan support to establish a new financing tool for domestic manufacturers. The creation of a domestic financing facility will help expand American manufacturing and improve domestic supply chains. “EXIM is doing exactly what Congress told the Bank to do when we re… Continue Reading
April 11, 2022
Biden Admin Heeds Brown's Calls to Ease Medical Debt
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Biden Administration announced it will take action to address consumer medical debt. In a hearing and a letter to the CFPB last month, Sen. Brown called on the Administration to take greater action to ease the growing burden of medical debt on consumers.“No one should have their financial future ruined because they get sick. These a… Continue Reading
April 7, 2022
Brown Urges Fed and OCC to Scrutinize Bank Mergers
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Federal Reserve Chair Pro Tempore Jay Powell and Acting Comptroller of the Currency Michael Hsu urging them to join the Federal Deposit Insurance Corporation (FDIC) in ensuring that bank mergers, if approved, serve American families, small businesses, and communities - not Wall Street and big corporations.“Enabled by rubber-stamp merger oversight, the … Continue Reading
