Majority Press Releases
Brown: These HUD Nominees Stand Ready to Address Our Nation’s Housing Crisis
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 nominations hearing for Julia Gordon, David Uejio, and Solomon Greene to be Assistant Secretaries of Housing and Urban Development (HUD).Sen. Brown’s remarks, as prepared for delivery, follow:Today, we will consider three nominations for critical roles at the Department of Housing and Urban Development.Julia Gordon has been nominated t… Continue Reading
August 4, 2021
Brown Blasts Republican Attack on Qualified HUD Nominees
Today, Sen. Sherrod Brown, Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement regarding Ranking Member Toomey’s letter to President Biden urging him to withdraw Department of Housing and Urban Development (HUD) nominees: Ms. Julia Gordon nominee, to be Assistant Secretary of HUD; and Mr. Solomon J. Greene, to be Assistant Secretary of HUD.“Senator Toomey is asking the president to withdraw nominees over retweets. This is political theat… Continue Reading
August 3, 2021
Senator Reverend Warnock Chairs First Senate Banking Subcommittee Hearing, Underscores Prevalence of Consumer Scams in the Pandemic Recovery Economy
Today, U.S. Senator Reverend Raphael Warnock (D-GA), chair of the U.S. Senate Banking Subcommittee on Financial Institutions and Consumer Protection, held a hearing to address the rising threat of financial fraud and scams during the pandemic and the economic threat these practices pose to a full recovery. The Senate Banking Subcommittee hearing, entitled “Protecting Consumers from Financial Fraud and Scams in the Pandemic Recovery Economy”, is the first hearing that Senator Warnock has chaired … Continue Reading
August 3, 2021
Brown Applauds Biden Administration for New Actions on the Eviction Moratorium Amid Troubling Rise in COVID-19 Cases
Today, Sen. Sherrod Brown, Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding the Biden Administration’s new action to limit evictions.“I applaud the Administration for this effort to protect renters from the public health crisis. The troubling rise of the Delta variant means families need protection now more than ever,” said Brown. “While the order is in place, I again urge all state and local grantees to quickly provide rental… Continue Reading
August 3, 2021
Brown: Financial Watchdogs Must Ensure Banks and Credit Unions Serve Working Families and Their Communities
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 Financial Regulators: Does our Financial System Work for Everyone?”Sen. Brown’s remarks, as prepared for delivery, follow:Before we begin, I want to ask all of my colleagues to work with their governors and local officials to get the eviction prevention assistance out faster - I spoke to Governor DeWine a… Continue Reading
July 29, 2021
U.S. Senator Tina Smith Introduces Legislation to Examine History of Racially Restrictive Covenants
Today, U.S. Senator Tina Smith (D-Minn.) introduced legislation to examine the history of racially restrictive covenants—which were used as tools of discrimination to keep Black families and households of color from moving into certain neighborhoods—so we can better understand the scope of these covenants.Sen. Smith’s Mapping Housing Discrimination Act is inspired by work being done at the University of Minnesota to map racially restrictive covenants, which will help to study the connection betw… Continue Reading
July 29, 2021
Brown: Passing 36% Rate Cap Bill Would Protect Americans From Debt Traps
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 “Protecting Americans from Debt Traps by Extending the Military's 36% Interest Rate Cap to Everyone.”Yesterday, Chairman Brown joined Senator Jack Reed (D-RI), several members of the Committee, and a number of other Senate Democrats in reintroducing the Veterans and Consumers Fair Credit Act, legisla… Continue Reading
July 28, 2021
U.S. Senators Seek to Cap Consumer Loans at 36%
In an effort to put a stop to abusive and predatory lending practices that target vulnerable consumers, U.S. Senators Jack Reed (D-RI), Jeff Merkley (D-OR), Sherrod Brown (D-OH), and Chris Van Hollen (D-MD), today led the reintroduction of legislation that would extend the protections of the Military Lending Act (MLA), which caps the annual percentage rate (APR) on consumer loans at 36 percent, to cover veterans and other consumers.In 2006, Congress passed the MLA to rein in predatory payday len… Continue Reading
July 27, 2021
Brown Presses CFPB to Address Risks to Consumers from Fintechs Like Chime
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio pressing him to address the risks to consumers from Chime, a nonbank fintech.“Chime’s abrupt, involuntary closures of its customers’ accounts—and locking them out of access to their funds—can cause lasting damage to their financial condition. Chime customers who could not access funds may have … Continue Reading
July 27, 2021
Brown: Cryptocurrencies Put Americans’ Hard-earned Money at Risk
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 “Cryptocurrencies: What are they good for?”Sen. Brown’s remarks, as prepared for delivery, follow:First, I’d like to take a moment to acknowledge the passing of our friend and former colleague, Senator Mike Enzi.Some of us served with him on this committee, which he joined in 1997. We remember his kindness, his persona… Continue Reading
July 22, 2021
Brown, Carper: Bipartisan Infrastructure Legislation Must Include Strong Transit Investments
U.S. Senators Sherrod Brown (D-Ohio), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Tom Carper (D-Del.), Chairman of the Senate Committee on Environment and Public Works, today released the following statement:“We have a once-in-a-generation opportunity to invest in our nation’s infrastructure and create a better, more connected future for the American people. We cannot do that if Republicans attempt to strike transit funds and programs from the infrastructure pack… Continue Reading
July 22, 2021
Chairman Menendez Delivers Opening Remarks at Senate Banking Subcommittee Hearing on Future Pandemic Risk
U.S. Senator Bob Menendez (D-N.J.), Chairman of the Senate Banking Subcommittee on Securities, Insurance, and Investment, delivered the following opening remarks at today’s hearing, entitled “Examining Frameworks to Address Future Pandemic Risk.” The Subcommittee heard testimony from a group of experts, businesses leaders, and insurance providers to explore whether Congress should consider a pandemic risk insurance program to limit the economic damage of future global catastrophic events such a… Continue Reading
July 22, 2021
Brown’s Remarks at Subcommittee Hearing: “Examining Frameworks to Address Future Pandemic Risk”
U.S. Sen. Sherrod Brown (D-OH) - chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today delivered remarks during a Securities, Insurance, and Investment Subcommittee hearing entitled “Examining Frameworks to Address Future Pandemic Risk.” Sen. Brown’s remarks, as prepared for delivery, follow:This is the first Securities, Insurance and Investment Subcommittee hearing - thank you Chairman Menendez and Ranking Member Scott for holding this hearing and tha… Continue Reading
July 20, 2021
Chair Tina Smith Leads Senate Hearing on Fire Safety, Home Health Risks Including Lead and Radon
Today, U.S. Senator Tina Smith (D-Minn.) led her third hearing as chair of a key housing subcommittee, where Sen. Smith heard from leaders of housing authorities—including Jennifer Keogh, Deputy Executive Director of the Minneapolis Public Housing Authority—and a nationally recognized expert on led and radon dangers.In 2019, an early morning fire at the Cedar High Apartments, a 25-story public housing building in Minneapolis, led to the deaths of five residents on the upper levels. The building … Continue Reading
July 20, 2021
Brown Applauds Interagency Work on New Community Reinvestment Act Rule
Today, Sen. Sherrod Brown - 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) announced it is rescinding its Trump-era Community Reinvestment Act (CRA) rule and will work on a new rule with the Federal Reserve and Federal Deposit Insurance Corporation (FDIC). The Federal Reserve, FDIC, and OCC also released a joint statement that they are working together on a new proposed CRA r… Continue Reading
July 20, 2021
Brown: As Climate Change Fuels Disasters, We Must Shore Up Our Nation’s Infrastructure
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 “21st Century Communities: Climate Change, Resilience, and Reinsurance.”Sen. Brown’s remarks, as prepared for delivery, follow:This morning the Banking and Housing Committee again looks at the ways climate change puts the American economy and American communities at risk. Earlier, we examined the ways big banks’ focus … Continue Reading
July 19, 2021
Brown Statement on the Nomination of Judith Pryor to Be First Vice President of the Export-import Bank (EXIM)
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 Judith D. Pryor, a native of Richmond Heights, Ohio, to be First Vice President of EXIM. She currently serves as a member of the Board of Directors after being confirmed by the U.S. Senate in May of 2019:“I am pleased the President has nominated Judith Pryor to be First Vice President of EXIM. T… Continue Reading
July 19, 2021
Brown Statement on the Nomination of Graham Steele to Be Assistant Secretary of Financial Institutions at Treasury
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 Graham Steele to be Assistant Secretary of Financial Institutions at the Department of Treasury. Steele worked for Chair Brown as Legislative Assistant for 5 years before serving as Minority Chief Counsel for the Senate Banking and Housing Committee. He also served as Staff Director of the Subco… Continue Reading
July 16, 2021
Brown Applauds FHFA Action to Lower Refinancing Costs for Homeowners
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, applauded Federal Housing Finance Agency (FHFA) Acting Director Sandra Thompson for rescinding the additional 50 basis point adverse market fee charged by Fannie Mae and Freddie Mac (the Enterprises) for all refinance loans. Senator Brown led a group of 15 Senate Democrats last year in urging the Enterprises to reconsider their decision to charge this new fee, particularly during… Continue Reading
July 15, 2021
Brown to Fed Chair Powell: Workers – Not Wall Street – Should Benefit From the Economic Growth They’ve Made Possible
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 “Semiannual Monetary Policy Report to Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:Today, our economy is growing because of the American Rescue Plan and the Biden-Harris Administration’s leadership.We’re putting shots in arms and money in pockets. Families have a little bit extra to help pay the bil… Continue Reading
