Majority Press Releases
Banking Committee Democrats Look Forward to the FDIC Getting Back to Business
WASHINGTON, D.C. - Today, Democrats on the Senate Banking, Housing, and Urban Affairs Committee, led by Chairman Sherrod Brown (D-OH) and including Sens. Bob Menendez (D-NJ), Mark Warner (D-VA), Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), Tina Smith (D-MN), and Raphael Warnock (D-GA) issued the following joint statement regarding Marty Gruenberg stepping into the role of Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Gruenberg, a former FDIC Chairman and Vice Chairman… Continue Reading
February 7, 2022
Brown, Colleagues Seek Answers on Reports of JPMorgan Robo-signing
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, along with Committee members Sens. Menendez (D-NJ), Smith (D-MN), Warren (D-MA), Van Hollen (D-MD), and Warnock (D-GA), sent a letter to JPMorgan Chase seeking to better understand the company’s credit card collection practices, including reports that JPMorgan has resumed the practice of robo-signing to sue customers.Brown and his colleagues emphasized the risks that ro… Continue Reading
February 4, 2022
Warner, Brown Call on SEC to Update Human Capital Disclosures So That Companies Report the Number of Employees Who Are Not Full-time Workers
U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Sen. Sherrod Brown (D-OH), chairman of the committee, today called on the Securities and Exchange Commission (SEC) to require companies to report on how many workers they employ who are not classified as full-time employees, including independent and subcontracted workers.“We believe that the disclosure of this data is critical to fully capture companies’ human capital management. W… Continue Reading
February 3, 2022
Brown: The American People Deserve a Fed Board That Works for Them
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 nomination hearing for the Honorable Sarah Bloom Raskin, nominee to be Federal Reserve Vice Chair for Supervision; and Dr. Lisa Cook and Dr. Philip Jefferson, nominees to be Governors of the Federal Reserve:Sen. Brown’s remarks, as prepared for delivery, follow:In the first year of the Biden-Harris Administration, we’ve seen tremendous… Continue Reading
February 2, 2022
Reporter Memo: Federal Reserve Governor Nominees Dr. Lisa Cook and Dr. Philip Jefferson
TO: Editors, Editorial Writers, and ReportersFROM: Senate Banking and Housing Committee Majority StaffRE: Federal Reserve Governor Nominees Dr. Lisa Cook and Dr. Philip JeffersonOVERVIEW: President Biden’s Fed nominees will ensure workers and their families reap the benefits of the economic growth they create, and will fight for all the communities that have been left on their own, from Black and brown workers to rural towns to the industrial heartland.Top lines for Dr. CookDr. Cook’s background… Continue Reading
February 1, 2022
Brown Statement on Sale of Facebook's Stablecoin Diem
WASHINGTON, D.C. - 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 Diem Association announced its sale, signaling an end to Facebook’s (now Meta) pursuit of a stablecoin product.“Facebook ending its pursuit of Diem is good news for consumers. I still have major concerns with big tech companies moving into the financial space - especially to compete with the U.S. dollar - and the risk that b… Continue Reading
February 1, 2022
Reporter Memo: Federal Reserve Vice Chair of Supervision Nominee the Honorable Sarah Bloom Raskin
TO: Editors, Editorial Writers, and ReportersFROM: Senate Banking and Housing Committee Majority StaffRE: Federal Reserve Vice Chair of Supervision Nominee the Honorable Sarah Bloom Raskin OVERVIEW: President Biden’s Fed nominees will get to work on the economic issues that matter most to Americans’ lives, like raising wages, increasing job opportunities, and bringing down prices.· Governor Sarah Bloom Raskin has dedicated much of her career to public service - she served on the Fed and at … Continue Reading
January 31, 2022
Reporter Memo: Federal Reserve Nominees Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson
TO: Editors, Editorial Writers, and ReportersFROM: Senate Banking and Housing Committee Majority StaffRE: Federal Reserve Nominees Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson OVERVIEW: President Biden’s Fed nominees will ensure workers and their families reap the benefits of the economic growth they create, and will fight for all the communities that have been left on their own, from Black and brown workers to rural towns to the industrial heartland.After the 2008 financial crisis, the … Continue Reading
January 28, 2022
Brown Meets with Federal Reserve Nominees
Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after meetings with the Honorable Sarah Bloom Raskin, nominee to be Federal Reserve Vice Chair for Supervision; and Dr. Lisa Cook and Dr. Philip Jefferson, nominees to be Governors of the Federal Reserve: “There is no question that these nominees are qualified. They are well established and respected in the public and private sectors and academia. They … Continue Reading
January 20, 2022
Brown Statement on Federal Reserve’s CBDC Report
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 the Federal Reserve’s report on central bank digital currencies.“The Federal Reserve’s report is a good first step toward designing a central bank digital currency that will bring more Americans into our banking system and help maintain the United States’ leadership in the global economy,” said Brown. “I look forward to workin… Continue Reading
January 19, 2022
Senate Banking and Housing Committee Votes on Key Biden Administration 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, led the Committee in voting on a number of key Biden Administration nominees: Mr. Arun Venkataraman, to be Assistant Secretary of Commerce and Director General of the United States and Foreign Commercial Service Ms. Reta Jo Lewis, to be President of the Export-Import Bank of the United States The Honorable Judith DelZoppo Pryor, to be… Continue Reading
January 14, 2022
Brown Applauds Biden’s Nominees for Fed Board
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 nominations of the Honorable Sarah Bloom Raskin for Federal Reserve Vice Chair for Supervision; and Dr. Lisa Cook and Dr. Philip Jefferson for Governors of the Federal Reserve.“With these nominees, President Biden is showing the country what a Federal Reserve standing on the side of workers and their local co… Continue Reading
January 13, 2022
Brown, Colleagues Urge CFPB to Improve Lending for Women-owned, Minority-owned, and Small Businesses
WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Sens. Ben Cardin (D-MD), Chair of the Senate Committee on Small Business & Entrepreneurship, Ron Wyden (D-OR), Dick Durbin (D-IL), and Cory Booker (D-NJ) sent a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra on the CFPB’s proposed rule supporting access to credit for small businesses, especially those owned by women or minorities.… Continue Reading
January 13, 2022
Brown: Brainard and Thompson Will Put Workers, Families First
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 nomination hearing for Governor Lael Brainard to be Vice Chair of the Federal Reserve Board of Governors and Acting Director Sandra Thompson to be Director of the Federal Housing Finance Agency.Sen. Brown’s remarks, as prepared for delivery, follow:It’s amazing what a difference a year makes.Today, we have safe and effective vaccines t… Continue Reading
January 11, 2022
Brown: In Second Term, Powell Must Ensure Economy Works for Everyone
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 nomination hearing for Chair Jerome Powell to be Chairman of the Federal Reserve Board of Governors. Sen. Brown’s remarks, as prepared for delivery, follow:Yearning for a return to normalcy, American voters elected Joe Biden President of the United States. The American people were exhausted by divisive rhetoric at neighborhood function… Continue Reading
January 3, 2022
Brown: The FDIC Must Continue its Important Work for the American People
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Chair of the Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams, announced her resignation on Friday, December 31:“The FDIC has a long history of bipartisan cooperation for the good of the American people. This critical board-governed agency keeps our banking system safe and insures our deposits,” said Brown. “I thank Chair McWilliams for h… Continue Reading
December 15, 2021
U.S. Senators Urge CFPB to Take Action to Ensure Transparency & Oversight of Buy Now Pay Later Products & Providers
As more Americans do their holiday shopping online and more online retailers offer consumers a financial technology twist on old-fashioned installment loans that could pose risks to consumers, six U.S. Senators are urging regulators to strengthen oversight and keep up with the growth of these “buy now, pay later” (BNPL) products and providers. Today, U.S. Senator Jack Reed (D-RI) was joined by some of his colleagues on the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Chairman S… Continue Reading
December 15, 2021
Brown Applauds SEC’s Proposed Changes to Stock Buybacks
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Securities and Exchange Commission (SEC) proposed new rules on stock buyback disclosures. Senator Brown has long pushed for reform to stock buybacks, including through his Stock Buyback Reform and Worker Dividend Act.“The first step to workers getting their fair share is learning just how much corporate executives are spending on themselves… Continue Reading
December 15, 2021
Brown: We Must Improve Long-Term Disaster Recovery to Help Communities Rebuild
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 “Disaster Recovery Assistance - Authorization of the Community Development Block Grant - Disaster Recovery Program.”Sen. Brown’s remarks, as prepared for delivery, follow:This morning the Banking, Housing, and Urban Affairs Committee looks at the authorization of the Community Development Block Grant - Disaster Recover… Continue Reading
December 14, 2021
Brown Statement on the Selection of Sandra Thompson to Lead FHFA
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 President Biden announced the nomination of Ms. Sandra Thompson to lead the Federal Housing Finance Agency (FHFA). If confirmed, Thompson would be the first African American woman to serve as Director of FHFA.“I commend the Biden Administration for nominating Sandra Thompson to lead FHFA,” said Brown. “She has a distinguished career as a regu… Continue Reading
