Majority Press Releases
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
August 10, 2021
Senate Passes Bipartisan Infrastructure Bill With Historic Brown Provisions to Invest in Ohio Communities & Create Good-Paying American Jobs
U.S. Senator Sherrod Brown (D-OH) today announced that the Senate passed a bipartisan infrastructure bill, the Infrastructure Investment and Jobs Act, with several key provisions he secured for Ohio communities. As the Chairman of a key committee on infrastructure legislation, Brown fought for Ohio and delivered, with big investments now on the way to the state for good-paying jobs to build and upgrade critical infrastructure like bridges, broadband, waterways, and public transit—all without rai… Continue Reading
August 9, 2021
Brown to Senate Colleagues: Housing Is Infrastructure
U.S. Sen. Sherrod Brown (D-OH) - Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today took to the Senate floor to urge his colleagues to support the robust investments in housing that are included in this week's budget resolution. Brown specifically pushed for investments in affordable housing, underserved urban, rural, and tribal communities, and to make homeownership more accessible for workers and their families. Video of the speech can be found here and Brown’s … Continue Reading
August 9, 2021
Brown Applauds Biden Administration for Renominating Todd Harper
Today, Sen. Sherrod Brown, Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement applauding the Biden Administration for renominating Chair Todd Harper to the Board of Directors of the National Credit Union Association (NCUA).“Todd Harper has worked on a bipartisan basis for stronger consumer protections and capital requirements so credit unions can continue lending to and investing in their communities - in both good times and bad. I look… Continue Reading
August 6, 2021
Brown Applauds SEC for Approving New Diversity Standards
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 Securities and Exchange Commission (SEC) approved Nasdaq’s proposed rule related to board diversity and disclosure:“Corporate America must do more to increase diversity in the boardroom,” said Brown. “I applaud the SEC and Nasdaq for recognizing the benefits to companies and shareholders of a more inclusive and equitable economy.” ###… Continue Reading
