Majority Press Releases
Brown Statement on the Pandora Papers
Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement on the newly released Pandora Papers.“The revelations in the massive Pandora Papers leaks reveal once again the extraordinary lengths to which billionaires, oligarchs, kleptocrats, and other bad actors will go to hide their wealth, evade taxes and accountability, and launder dirty money,” said Brown. “It’s why I worked with my Republican colleagues to e… Continue Reading
September 30, 2021
Brown Statement on Rohit Chopra’s Confirmation
Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after Rohit Chopra was confirmed as Director of the Consumer Financial Protection Bureau (CFPB):“The CFPB will have a leader who is ready to stand up to the biggest banks and the most powerful corporations to protect families, service members, students, and the elderly,” said Brown. “Congratulations to Mr. Chopra. I applaud my colleagues for coming toge… Continue Reading
September 30, 2021
Brown Opening Statement at Nomination Hearing
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 on nominations to the National Credit Union Administration (NCUA) and the Export-Import Bank (EXIM).Sen. Brown’s remarks, as prepared for delivery, follow:The Committee meets today to consider the nominations of: Todd Harper to be Chairman of the National Credit Union Administration;Judith Pryor to be First Vice President of … Continue Reading
September 30, 2021
Senator Reverend Warnock Introduces Legislation to Support First-Generation Home Buyers, Pushes for Inclusion in Build Back Better Economic Package
Today, U.S. Senator Reverend Raphael Warnock (D-GA) introduced new legislation to help millions access the benefits of homeownership and provide a pathway to financial security and housing stability across the country. The Downpayment Toward Equity Act of 2021 would provide federal grants, administered through local entities, to aid first-generation homebuyers with qualifying expenses toward purchasing their first home—including downpayment costs, closing costs, and costs to reduce the rates of … Continue Reading
September 28, 2021
Brown to Powell, Yellen: We Must All Continue to Support the Real Economy and Its Workers
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 “CARES Act Oversight of the Treasury and Federal Reserve: Supporting an Equitable Pandemic Recovery.”Sen. Brown’s remarks, as prepared for delivery, follow:We all remember the dark days of 2008, and the painful years that followed. Secretary Yellen and Chair Powell, you both helped us deal with the aftermath in your ro… Continue Reading
September 23, 2021
Brown Statement on the Historic Selection of Saule Omarova to Lead the OCC
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 Saule Omarova to lead the Office of the Comptroller of the Currency (OCC). If confirmed, Omarova would be the first woman, and the first person of color to lead the agency in its 158-year history.“Saule Omarova has spent her career working with both Republicans and Democrats on systemic financial s… Continue Reading
September 22, 2021
Warren, Brown, Smith, and Van Hollen Request Information from SPAC Creators Amid “Astonishing” Reports of Abuse and Market Dysfunction
Text of Letters (PDF)United States Senators Elizabeth Warren (D-Mass.), Sherrod Brown (D-Ohio), Tina Smith (D-Minn.), and Chris Van Hollen (D-Md.) sent letters to six creators of prominent Special Purpose Acquisition Companies, or SPACs, publicly traded shell companies that raise money to buy private companies and take them public. Their letters raise concerns about abuses by the creators and operators of SPACs, including reports that insiders are taking advantage of legislative and regulatory g… Continue Reading
September 22, 2021
Brown: Rohit Chopra Is One Step Closer to Confirmation
Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after Rohit Chopra, nominee for Director of the Consumer Financial Protection Bureau (CFPB), was successfully discharged from the Committee. His nomination will next be considered for final confirmation by the Senate.“Americans need someone at the helm of the CFPB who is ready to stand up to the biggest banks and the most powerful corporations in order … Continue Reading
September 21, 2021
Brown Blasts Ranking Member Toomey’s Letter on Transit Funding, Calls for Greater Investment to Address Our Nation’s Housing Crisis
Today, Sen. Sherrod Brown (D-OH) - Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement in response to a letter from Ranking Member Toomey regarding new transit and housing funding in the House reconciliation bill.“The House reconciliation bill would - for the first time ever - allow the Department of Housing and Urban Development and the Federal Transit Administration to pool resources and work together to help solve the nation’s housing c… Continue Reading
September 21, 2021
Cortez Masto Introduces Bill to Incentivize Whistleblowers to Report Consumer Fraud to the Consumer Financial Protection Bureau
U.S. Senator Catherine Cortez Masto (D-Nev.) introduced legislation to authorize the Consumer Financial Protection Bureau (CFPB) to reward whistleblowers who report wrongdoing to the CFPB with financial compensation. Whistleblower statutes protect people from unfair practices, fraud, and abuse. The bill is cosponsored by Chairman of the Senate Banking, Housing, and Urban Affairs Committee Senator Sherrod Brown (D-Ohio) and Senators Dick Durbin (D-Ill.), Elizabeth Warren (D-Mass.), Jeff Merkley (… Continue Reading
September 21, 2021
Brown: These Nominees Are Prepared to Protect U.S. Interests at Home and Abroad
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 Alan Estevez, to be Under Secretary of Commerce for Industry and Security; Thea Kendler, to be an Assistant Secretary of Commerce; Alexia Latortue, to be an Assistant Secretary of the Treasury; and Graham Steele, to be an Assistant Secretary of the Treasury.Sen. Brown’s remarks, as prepared for delivery, follow:T… Continue Reading
September 14, 2021
Brown Statement on Biden Admin’s Pause of Trump-era Restrictions on Fannie Mae, Freddie Mac
Today, Sen. Sherrod Brown (D-OH) - Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - issued the following statement after the Federal Housing Finance Agency (FHFA) and the Department of Treasury’s release of letter agreements to suspend and review restrictions on Fannie Mae and Freddie Mac’s (the GSEs) business activities. The Trump Administration announced the restrictions in January 2021.“In January, the Trump Administration rushed through haphazard changes impacti… Continue Reading
September 14, 2021
Brown: Together With Chair Gensler, We Can Make Our Markets Work 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 hearing entitled “Oversight of the U.S. Securities and Exchange Commission.”Sen. Brown’s remarks, as prepared for delivery, follow:Welcome, Chair Gensler.Five months ago today, the Senate confirmed you as Chair of the Securities and Exchange Commission. I know you have already gotten to work for the American people, and you had your wo… Continue Reading
September 13, 2021
Brown Statement on Nomination of Reta Jo Lewis for Export-import Bank President and Chair
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 Biden Administration announced the nomination of Reta Jo Lewis to be President and Chair of the Export-Import Bank (EXIM). If confirmed, Lewis would be the first Black woman to lead EXIM. “I want to applaud President Biden for nominating such a well-qualified woman to lead EXIM. EXIM helps create hundreds of thousands of good-paying manufactur… Continue Reading
September 10, 2021
Brown Statement On CFPB And OCC’s $250 Million Fines Against Wells Fargo
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 Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) announced new fines on Wells Fargo:“Wells Fargo has yet again demonstrated it is too large to manage, and it can’t be trusted to do right by its customers or its workers.”###… Continue Reading
September 7, 2021
Brown Applauds New Equitable Housing Plans for Fannie Mae and Freddie Mac
Today, Sen. Sherrod Brown (D-OH) - Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - issued the following statement following the Federal Housing Finance Agency’s (FHFA) announcementthat it will now require Fannie Mae and Freddie Mac (the Enterprises) to prepare and implement Equitable Housing Finance Plans to remove barriers to housing access for underserved borrowers and renters, including households of color. FHFA also published a request for information seeking c… Continue Reading
September 1, 2021
Brown Commends CFPB’s Proposed Rule to Improve Small Business Lending Data
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 Consumer Financial Protection Bureau’s (CFPB) proposed rule to require banks to collect more data on small business lending.“Small businesses drive growth in communities across our country, but too often they face barriers blocking access to credit and loans. This proposed rule is an important step in addressing longstanding gaps in small … Continue Reading
September 1, 2021
Brown Applauds White House Efforts to Address Housing Supply
Today, Sen. Sherrod Brown (D-OH) - Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - applauded the White House’s planned changes to make it easier to produce affordable housing.“Housing has long been too expensive and too hard to find for many families. Building more affordable homes - and keeping the homes we have in the hands of homeowners, not investors - is key to bringing down housing costs, including for communities that have been denied access to housing for t… Continue Reading
August 27, 2021
Brown Blasts Supreme Court for Ruling Against CDC Eviction Moratorium
Today, Sen. Sherrod Brown, Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Supreme Court ruled against the CDC’s eviction moratorium.“The Supreme Court ruled against public safety and against struggling families trying to weather this ongoing crisis,” said Brown. “This is a shameful decision, especially when the troubling rise of the Delta variant means families need protection now more than ever. It is vital that state and… Continue Reading
August 18, 2021
Brown Applauds New Affordable Housing Goals Proposal for Fannie Mae, Freddie Mac
Today, U.S. Senator Sherrod Brown (D-OH) - Chairman of the Senate Committee on Banking, Housing, and Urban Affairs - issued the following statement on the Federal Housing Finance Agency’s (FHFA) announcement of their proposed rule establishing new affordable housing goals for Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs). The proposed rule includes a new benchmark to assess the GSEs’ activity serving low- and moderate-income homeowners in areas with significant popul… Continue Reading
