Majority Press Releases
Brown Statement on FOMC Meeting
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 Open Market Committee (FOMC) raised interest rates for the first time since 2018: “At this pivotal moment, as we grapple with unprecedented supply chain disruptions and economic uncertainty surrounding Russia’s invasion of Ukraine, the Fed must use every tool at its disposal to tackle inflation, protect our economy from financ… Continue Reading
March 15, 2022
Brown Statement on the Federal Reserve Nominees
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding the withdrawal of Ms. Sarah Bloom Raskin, nominee to be Federal Reserve Vice Chair for Supervision.“I thank Sarah Bloom Raskin for her commitment to public service, and for serving our nation with honor and distinction as Deputy Secretary of Treasury, Governor of the Federal Reserve System, and Commissioner of Financial Regulation for… Continue Reading
March 15, 2022
Brown: Better, Faster Transit Will Help Communities Grow
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.”Sen. Brown’s remarks, as prepared for delivery, follow:Ohioans know how we let our infrastructure languish for far too long. They talked to Congress for years, trying to get Washington to listen.Presidents of both parties promi… Continue Reading
March 9, 2022
Brown Applauds President Biden's Ban on Russian Energy Imports
WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement applauding President Biden’s announcement to ban Russian energy imports following the invasion of Ukraine.“Now is the time to ban Russian oil imports. It will increase the economic consequences of Putin’s invasion even further, and send a clear signal to the Ukrainian people: Putin cannot invade your country, kill innocent civilians, … Continue Reading
March 9, 2022
Brown Applauds President Biden's Crypto Executive Order
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding President Biden’s executive order on digital assets.“It’s imperative we strengthen our financial resilience and national security right now. That includes protecting Americans from the risks of crypto to our economy and ensuring crypto can’t be used to skirt the law,” said Brown. “The President is right to take a whole-of-gove… Continue Reading
March 8, 2022
Brown: Banning Forced Arbitration Will Give Consumers Back Their Rights
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 “Examining Mandatory Arbitration in Financial Service Products.”Sen. Brown’s remarks, as prepared for delivery, follow:Last Thursday, President Biden signed the “Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act” - a bipartisan bill to stop corporations from denying their workers … Continue Reading
March 7, 2022
Brown Introduces Bill to Protect Consumers By Banning Forced Arbitration
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, introduced the Arbitration Fairness for Consumers Act, legislation to prohibit banks and other financial institutions from using forced arbitration clauses against consumers who want to seek restitution and justice.“Forced arbitration clauses let big companies hide from accountability and silence victims, giving more power to Wall Street over workers and their families… Continue Reading
March 4, 2022
Waters, Brown, Gottheimer Request Information on Financing of Domestic Violent Extremism
WASHINGTON, D.C. - Yesterday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Senator Sherrod Brown (D-OH), Chairman of the Committee on Banking, Housing, and Urban Affairs, and Congressman Josh Gottheimer (D-NJ), sent a letter to the Government Accountability Office (GAO) requesting a review of the methods by which domestic violent extremists (DVE) and homegrown violent extremists (HVE) fund their activities and how financial institutions are addressing… Continue Reading
March 3, 2022
Brown to Powell: The Fed Must Continue to Lead Our Economic Recovery
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 the Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:I want to start by acknowledging that as we sit here this morning, Ukrainians are showing such courage and resolve, fighting Russian invaders in their homeland. Ukrainian families fleeing in… Continue Reading
March 2, 2022
Tester, Tillis, Brown, Toomey Introduce Bipartisan Legislation to Protect Consumers, Provide Certainty for Financial Institutions
(U.S. Senate) - As a critical but little-known financial tool that determines global interest rates for more than $200 trillion in contracts in the United States and across the world is set to end in June 2023, U.S. Senators Jon Tester (D-Mont.), Thom Tillis (R-N.C.), and Senate Banking Committee Chairman Sherrod Brown (D-Ohio) and Ranking Member Pat Toomey (R-Penn.) today introduced their bipartisan Economic Continuity and Stability Act that would provide certainty for American consumers and bu… Continue Reading
March 2, 2022
Senators Warren, Warner, Brown, Reed Express Concerns to Treasury Regarding Potential Use of Cryptocurrency to Evade Sanctions
Text of Letter (PDF)Washington, D.C. — United States Senator Elizabeth Warren (D-Mass.), Senate Intelligence Committee Chairman Mark Warner (D-Va.), Senate Banking, Housing, and Urban Affairs Chairman Sherrod Brown (D-Ohio), and Senate Armed Services Committee Chairman Jack Reed (D-R.I.) led a letter to Treasury Secretary Janet Yellen raising concerns regarding the potential use of cryptocurrency to evade sanctions, which have become even more urgent amid the sanctions imposed on Russia after th… Continue Reading
March 1, 2022
On Senate Floor, Brown Stresses the Need for a Full Federal Reserve Board to Address Inflation and Economic Uncertainty
U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, took to the Senate floor today to call on his Republican colleagues to vote on crucial Federal Reserve Board nominations.Video of Senator Brown’s remarks is available here.Sen. Brown’s remarks, as prepared for delivery, follow:Mr./Mdme. President, Every day, Americans get up, go to work, and do their jobs. It’s time for us to do ours. We have five outstanding nominees for the Federal Res… Continue Reading
February 24, 2022
Brown Applauds Biden Administration Plan to Impose Stricter Sanctions on Russia in Response to Its Invasion of Ukraine
WASHINGTON, D.C. - 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 Biden administration’s plan to impose stricter economic and financial sanctions on Russia and Putin following the invasion of Ukraine.“Russia’s unprovoked assault on Ukraine is an affront to freedom and democracy the world over. This attack will be met with united, decisive action by the United States and our allies. Vl… Continue Reading
February 17, 2022
Brown: Republicans Are AWOL in the Fight Against Inflation
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement on Republican attempts to block key federal Reserve Nominees:“Ranking Member Toomey is holding up our fight against inflation because Ms. Bloom Raskin doesn’t remember a phone call from five years ago. Ranking Member Toomey isn’t interested in answers, only preventing a qualified Vice Chair for Supervision, twice before confirmed by the… Continue Reading
February 17, 2022
Brown: We Must Use Every Tool We Can to Fight Inflation and Continue Our Economic Recovery
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 State of the American Economy: A Year of Unprecedented Economic Growth and Future Plans.”Sen. Brown’s remarks, as prepared for delivery, follow:Every day, Americans get up, go to work and do their jobs. But our Republican colleagues refuse to do theirs.On Tuesday, this Committee met to vote on f… Continue Reading
February 16, 2022
On Senate Floor, Brown Calls on Republicans to Get Back to Work and Vote on Fed Nominees
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, took to the Senate floor today to call out Republicans for walking out on the American people. Yesterday, Republicans of the Committee refused to attend a pre-scheduled vote on crucial Federal Reserve Board nominations, even as Americans struggle with surging prices and inflation.“Americans every day get up, go to work, do their jobs. They expect us to get up every day… Continue Reading
February 15, 2022
Brown: Republicans Have Walked Out on the American People
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 remarks during a meeting with Banking Committee members. Sen. Brown’s remarks, as prepared for delivery, follow:In a little over a year since President Biden took the oath of office, we’ve seen the American economy come roaring back.We’ve added 6.6 million new jobs—a record for any President’s first year in office. For the first time in two deca… Continue Reading
February 15, 2022
Chairman Brown Blasts Ranking Member Toomey For Walking Out On the American People
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after Ranking Member Toomey announced he would not attend the markup for the Federal Reserve Nominees:“Today, Ranking Member Toomey chose to abdicate his duty to the American people and put our economic recovery at risk, instead of doing his job and showing up to vote on Ms. Bloom Raskin, Dr. Cook, Dr. Jefferson, Gov. Brainard, and Chai… Continue Reading
February 15, 2022
Brown: Stablecoins Endanger Americans’ Hard-earned Money and Our Entire Economy
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 the President’s Working Group on Financial Markets Report on Stablecoins.” The Treasury Department released the President’s Working Group report in November. Sen. Brown’s remarks, as prepared for delivery, follow:Let me start by talking about the Federal Reserve. This afternoon at 2:15 we will be meeting in … Continue Reading
February 10, 2022
Brown: Our Housing Market Should Serve Renters and Communities – Not Private Equity’s Bottom Lines
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 “How Institutional Landlords are Changing the Housing Market.” On Tuesday, the Committee hosted a listening session to amplify stories from renters living in homes owned by private equity firms and other institutional investors.Sen. Brown’s remarks, as prepared for delivery, follow:Whenever there’s a problem in the eco… Continue Reading
