Majority Press Releases
Brown Applauds Biden-Harris Administration’s First Step to Restoring Fair Housing Act
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 the U.S. Department of Housing and Urban Development (HUD) released an interim final rule restoring key provisions of HUD’s Affirmatively Furthering Fair Housing (AFFH) rule, which implements a critical element of the Fair Housing Act but had been gutted by the Trump Administration:“More than 50 years ago, we made a commitment to promote fair… Continue Reading
June 8, 2021
Senate Passes Bipartisan Legislation With Key Brown Provisions to Make Historic Investments in Science, Technology & Innovation, Allow U.S. To Better Compete With China
Today, the U.S. Senate passed the U.S. Innovation and Competition Act, which included key provisions from U.S. Senator Brown (D-OH) to make a once-in-a-generation investment in American science, technology and innovation to help the U.S. preserve its competitive edge.“Our competitors like China spend billions propping up state-owned enterprises and subsidizing research and development, and they also take our ideas and use them to compete - and sometimes cheat - against American workers and busin… Continue Reading
June 8, 2021
Chair Tina Smith Leads Hearing on Rural Transit, Brings Transit Leaders Together to Discuss Connecting Rural Communities
Today, U.S. Senator Tina Smith (D-Minn.), Chair of a key Senate transportation subcommittee, led a hearing to gather input from rural transit leaders from across the country—including Brandon Nurmi from Arrowhead Transit in Virginia, Minnesota. The local transit officials shared the challenges they face each day in managing transit services in rural areas, as well as innovative solutions to connect rural communities.Chair Smith, who was joined at the bipartisan hearing by the Subcommittee’s Rank… Continue Reading
June 4, 2021
Brown, Reed, Tester Applaud Fixes to VA’s Assistance for Military Borrowers
Today, U.S. Sens. Sherrod Brown (D-OH), Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Jack Reed (D-RI), Chair of the U.S. Senate Committee on Armed Services, and Jon Tester (D-MT), Chair of the U.S. Senate Committee on Veterans’ Affairs, applauded the Department of Veterans Affairs (VA) for making changes to the agency’s proposed COVID-19 Veterans Assistance Partial Claim Payment (COVID-VAPCP) program in response to concerns raised by the Senators and other stakehold… Continue Reading
May 27, 2021
U.S. Senator Tina Smith Highlights Urgent Need to Invest in Housing for Native Americans at First Hearing as Chair of Key Senate Panel
U.S. Senator Tina Smith (D-Minn.) - in her first hearing as Chair of a key Senate housing panel - said there is an urgent need for investment in housing for Native Americans in Minnesota and across the country, and promised to continue efforts to knock down the systemic barriers that have kept generations of Native Americans from having a safe, stable, and affordable place to live.Chair Smith, who was joined at the bipartisan hearing by the Subcommittee’s Ranking Member Sen. Mike Rounds (R-SD), … Continue Reading
May 26, 2021
Brown Statement on Big Bank Hearing
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 a historic hearing with the CEOs of JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.“Wall Street is on notice. The days of these banks and their allies controlling this committee are over,” said Brown. “The CEOs that came before us are the most powerful economic actors in the country and the signals they se… Continue Reading
May 26, 2021
Brown to Wall Street CEOs: Prove to Us You’ll Change the System to Make the Economy 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 “Annual Oversight of Wall Street Firms.”Sen. Brown’s remarks, as prepared for delivery, follow:Today is the first time we have ever had the CEOs of the nation’s six largest banks together before the Committee.Over a century ago, Louis Brandeis wrote about the concentration of corporate power and how it distorts the mar… Continue Reading
May 25, 2021
Brown: Regulators Need to Stand Up for the Workers Who Make Up the Real 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 “The Semiannual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System.”Sen. Brown’s remarks, as prepared for delivery, follow:A year ago today, we watched for eight minutes and 46 seconds as police murdered George Floyd, and across the country, we saw Americans demand justice for the kil… Continue Reading
May 20, 2021
Brown: Investing in Infrastructure Will Help Communities Thrive
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: Expanding Opportunity Through Infrastructure Investments.”Sen. Brown’s remarks, as prepared for delivery, follow:We are honored today to welcome Secretary Marcia Fudge of the Department of Housing and Urban Development and Secretary Pete Buttigieg of the Department of Transportation. Presiden… Continue Reading
May 20, 2021
Brown Calls on OCC Acting Comptroller Hsu to Review Cryptocurrency Bank Charters
U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, urged Acting Comptroller Michael Hsu to review charters granted to several cryptocurrency exchanges by the Trump Administration. In his letter, he highlighted the risk of granting charters to non-banks and the need to ensure consumers and the banking system are protected. “I am concerned about a number of national trust charters granted by the prior leadership of the OCC. Shortly after f… Continue Reading
May 19, 2021
Senate Banking and Housing Committee Advances Todman, Fernandez Nominations
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, advanced two nominations: Ms. Adrianne Todman, of the Virgin Islands, to be Deputy Secretary of Housing and Urban Development (HUD); and Ms. Nuria Fernandez, of California, to be Administrator of the Federal Transit Administration (FTA). Both nominees were approved by a voice vote.Sen. Brown’s remarks at today’s markup, as prepared for delivery, follow:Today, we are approving the … Continue Reading
May 18, 2021
Brown Urges OCC to Strengthen Community Reinvestment Act in Upcoming Revamp of Trump-Era Rule
Today, U.S. Senator Sherrod Brown (D-Ohio), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding the Office of the Comptroller of the Currency’s (OCC) announcement that it will reconsider the Trump Administration’s Community Reinvestment Act rule, finalized in June 2020. “Acting Comptroller Hsu and the OCC took a step in the right direction today by announcing that they will reconsider the misguided Community Reinvestment Act rul… Continue Reading
May 18, 2021
Brown: We Can and Must Make Our Communities Safer and More Resilient to Flooding
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 “Reauthorization of the National Flood Insurance Program, Part I.”Sen. Brown’s remarks, as prepared for delivery, follow:This hearing is the beginning of our effort to enact a long-term reauthorization of the National Flood Insurance Program this Congress. At a later hearing, we will invite the Federal Emergency Manage… Continue Reading
May 13, 2021
Brown, Toomey Reach Bipartisan Agreement on Amendment to China Competition Bill
WASHINGTON, D.C. — Today, U.S. Senate Committee on Banking, Housing and Urban Affairs Chairman Sherrod Brown (D-OH) and Ranking Member Pat Toomey (R-PA) announced an agreement on bipartisan legislation called the “Meeting the China Challenge Act of 2021.” The Brown-Toomey amendment addresses critical concerns about China in the national security and financial services arena, including urging intensified use of existing sanctions authorities against Chinese violators on Hong Kong, human rights, … Continue Reading
May 11, 2021
Van Hollen, Brown, Schumer Applaud Bipartisan Senate Passage of Congressional Review Act Legislation to Repeal Trump-era “Rent-A-Bank” Rule
Today, U.S. Senator Chris Van Hollen (D-Md.), a member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Committee Chairman Sherrod Brown (D-Ohio), and Majority Leader Chuck Schumer (D-N.Y.) applauded the bipartisan Senate passage of a resolution to repeal the Trump Administration’s so-called True Lender Rule through the use of the Congressional Review Act. This regulation, finalized in the last months of the prior Administration, allows predatory lenders to skirt state laws m… Continue Reading
May 11, 2021
Brown Urges Senate Colleagues to Support Overturning OCC's Trump-era Rule Encouraging Predatory Rent-a-Bank Schemes
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, today headed to the Senate floor to urge his colleagues to support his legislation to repeal the Trump Administration’s so-called True Lender Rule through the Congressional Review Act. The OCC’s rule allows predatory lenders to evade state interest rate caps and charge consumers outrageous interest on payday and other loans. Senator Brown introduced the legislation wit… Continue Reading
May 11, 2021
Brown: As We Invest In Infrastructure, Let’s Ensure Todman and Fernandez Can Get To Work
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 nominations hearing for Ms. Adrianne Todman to be Deputy Secretary of Housing and Urban Development (HUD) and Ms. Nuria Fernandez to be Federal Transit Administrator (FTA).Sen. Brown’s remarks, as prepared for delivery, follow:Today we’ll consider the nominations of two distinguished public servants: Adrianne Todman … Continue Reading
May 4, 2021
Majority Leader Schumer And Chairman Brown Unveil New Clean Transit For America Plan To Replace Nation’s Polluting Buses With Clean Buses
Washington, D.C. - Today, Tuesday, May 4, 2021, Senate Majority Leader Chuck Schumer (D-NY) and Chairman of the Senate Committee on Banking, Housing and Urban Affairs Sherrod Brown (D-OH) unveiled their new Clean Transit for America plan to help protect our planet by providing $73 billion to move our country’s public transit systems to zero-emission fleets. This announcement comes on the heels of President Biden’s American Jobs Plan and will help combat climate change, improve air quality, and e… Continue Reading
April 29, 2021
Brown: When Work Has Dignity, It Pays Off for Workers – Not Wall Street
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 Dignity of Work.”Today’s hearing follows Tuesday’s “Dignity of Work” worker listening session, which was the Committee’s first-ever listening session of its kind. At the event, workers shared their stories about how the economy is set up to ensure Wall Street and big corporations profit - at ev… Continue Reading
April 28, 2021
Brown: It Is Time to Crack Down on Predatory Lenders
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 Reemergence of Rent-a-Bank?’Sen. Brown’s remarks, as prepared for delivery, follow:Emerson teaches us that history is a battle between what he called “the innovators” and “the conservators.” The innovators work to find new ways to make government work for the people it serves, and deliver results for everyone.But … Continue Reading
