Majority Press Releases
Brown Demands Regulators Do More to Protect The American Economy From Further Devastation
WASHINGTON, D.C. -- U.S. Sen. Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs yesterday sent a letter to the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) urging the agencies to take action now to protect workers and families from even more economic hardship, instead of helping Wall Street. Brown in his letter… Continue Reading
October 5, 2020
Leading Democrats Raise Questions about Trump Administration’s Export of Potential Missile Materials to China
WASHINGTON - A group of leading national security Democrats today are raising an alarm over an approval by the Trump Administration to export over 227 tons of sensitive material critical to building missiles to the People’s Republic of China.In a new letter to Secretary of Commerce Wilbur Ross, Senate Foreign Relation Committee Ranking Member Bob Menendez (D-N.J.), Senate Democratic Leader Chuck Schumer (D-N.Y.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affair… Continue Reading
October 5, 2020
ICYMI: Brown, Colleagues Criticize Proposed Labor Department Rule Weakening Tool to Advance Financial Interests of Workers and Retirees
Members: “This proposal does the opposite of protecting retirees—it decreases the value of retirement plans’ investments by discouraging fiduciaries from using a key tool to fight for the financial interests of the workers and retirees they serve.”WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, U.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (… Continue Reading
September 24, 2020
Brown Statement at Quarterly CARES Act Hearing
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following opening statement at today’s hearing entitled ‘The Quarterly CARES Act Report to Congress.’Sen. Brown’s remarks, as prepared for delivery, follow:Thank you, Chair Crapo. While I’m disappointed this hearing wasn’t held fully remote, I’m glad to see masks in the hearing room. Chair Powell, I also want to thank you for your leadership… Continue Reading
September 23, 2020
Brown Blasts SEC For Moving Forward With Its Anti-Investor Proposal And Undermining The Whistleblower Program
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement after the Securities and Exchange Commission (SEC) moved two final rules forward, one on the whistleblower program, and the other on the shareholder proposal rule: “The SEC’s actions today will undermine efforts to uncover fraud and misconduct and will prevent shareholders from holding corporate management accountable. The rule change… Continue Reading
September 23, 2020
Brown Floor Speech: Detailing How The Trump Administration Has Systematically Undermined Decades Of Fair Housing Progress
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following floor speech on a new report that outlines how the Trump Administration has systematically undermined 50 years of fair housing progress. The report which was written by the Banking and Housing Committee minority staff can be found here:Sen. Brown’s remarks, as prepared for delivery, follow:Mr./Mdme. President, The coronavirus … Continue Reading
September 21, 2020
Brown Releases Civil Rights Report Entitled: Turning Back The Clock: How The Trump Administration Has Undermined 50 Years Of Fair Housing Progress
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today released a report outlining how the Trump Administration has systematically undermined 50 years of fair housing progress. The report details how the Trump Administration has turned its back on the federal government’s fair housing obligations established in the 1968 Fair Housing Act by turning a blind eye to housing discrimination, rewriting the ru… Continue Reading
September 21, 2020
Brown Commends The Federal Reserve For Its Work to Update the Community Reinvestment Act (CRA)
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement after the Federal Reserve moved forward with its process to update the Community Reinvestment Act (CRA): “Today’s announcement from the Federal Reserve marks the start of its process to update the Community Reinvestment Act to ensure that banks are meeting the needs of all communities where they do business. The proposal l… Continue Reading
September 17, 2020
Senate Democrats Unveil The America LEADS Act To Make Comprehensive Investments In American Workers, Competitiveness, Alliances, And Diplomacy To Confront The Rise of China
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senate Democrats today introduced the America Labor, Economic competitiveness, Alliances, Democracy and Security (America LEADS) Act, Senate Democrats’ proposal for a new U.S.-China policy. The most comprehensive China legislation to date, the America LEADS Act seeks to recognize that only when we have a… Continue Reading
September 17, 2020
Brown, Colleagues to SEC: Protect The Whistleblower Program, Don’t Undermine It
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today sent a letter to Securities and Exchange Commission (SEC) Chair Jay Clayton regarding the pending rule proposal that would alter the Whistleblower Program (the Proposal). The lawmakers stressed that the proposal could damage the SEC’s successful whistleblower program by making it harder for whistleblowers to receive awards and discouraging reporting o… Continue Reading
September 11, 2020
ICYMI: Senate Democrats: Trump Administration Must Take Stronger Action Against Election Interference Following Sanctions on Derkach
Banking Committee Ranking Member Sherrod Brown, Finance Committee Ranking Member Ron Wyden, Senate Minority Leader Chuck Schumer, Intelligence Committee Vice-Chair Mark Warner, Homeland Security and Governmental Affairs Committee Ranking Member Gary Peters, Armed Services Committee Ranking Member Jack Reed, Foreign Relations Committee Ranking Member Bob Menendez, Democratic Whip Richard Durbin and Rules Committee Ranking Member Amy Klobuchar issued a joint call for action today, a week af… Continue Reading
September 9, 2020
Brown: Trump Administration Again Undermines Civil Rights Protections
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement after Secretary Ben Carson of the Department of Housing and Urban Development (HUD), posted a new anti-civil rights rule online that undermines the ability of victims of housing discrimination to seek justice under the Fair Housing Act. HUD’s final “disparate impact” rule will make it all but impossible to root out policies and practic… Continue Reading
September 9, 2020
Brown Demands Congress Do More For The Workers Who Keep Our Economy Afloat
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following opening statement at today’s hearing entitled “The Status of the Federal Reserve Emergency Lending Facilities.”Sen. Brown’s remarks, as prepared for delivery, follow:More than 150 years ago President Lincoln observed, “It has so happened in all ages of the world that some have labored, and others have, without labor, enjoyed a lar… Continue Reading
September 4, 2020
Brown Statement on HUD Inspector General’s Reports on Water Contamination in Assisted-Housing Units
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement after the U.S. Department of Housing and Urban Development (HUD) Inspector General released reports on water contamination in HUD-assisted communities. The HUD Inspector General’s office report specifically examined Public Housing and Housing Choice Voucher communities and Multifamily communities under HUD’s supervision. “No one shou… Continue Reading
September 4, 2020
BROWN, WARREN, VAN HOLLEN, MENENDEZ, AND REED PROBE CFPB’S FAILURE TO ALERT BORROWERS TO MORTGAGE RELIEF OPTIONS DURING PANDEMIC
Washington, DC - U.S. Senator Sherrod Brown (D-OH), Ranking Member of the Banking Committee, along with Elizabeth Warren (D-MA), Senators Chris Van Hollen (D-MD), Robert Menendez (D-NJ), and Jack Reed (D-RI), also members of the Banking Committee, sent a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger regarding the agency’s failure to use its authority to ensure that borrowers are aware of the mortgage relief options they are legally entitled to during the CO… Continue Reading
September 3, 2020
Leading Senate Democrats Demand Immediate U.S. Sanctions for Russian Interference in 2020 Elections
Washington, D.C. - Leading Senate Democrats urged the U.S. Treasury Department to sanction Russian individuals and government actors for their interference in the 2020 election.Finance Committee Ranking Member Ron Wyden, Senate Minority Leader Chuck Schumer, Banking Committee Ranking Member Sherrod Brown, Intelligence Committee Vice-Chair Mark Warner, Homeland Security and Governmental Affairs Committee Ranking Member Gary Peters, Armed Services Committee Ranking Member Jack Reed, Foreign… Continue Reading
September 1, 2020
Brown Statement on Trump Administration’s Eviction Order
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement after the Trump administration announced a new order on evictions. Brown has been calling for emergency rental assistance to keep renters in their homes. This assistance was included in the House-passed HEROES Act in May 2020. “President Trump has finally acknowledged what Democrats have been saying for months: that our nation’s impe… Continue Reading
September 1, 2020
Brown, Colleagues Demand the Office of Special Counsel Investigate HUD Secretary Ben Carson for Possible Hatch Act Violation
U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today led his colleagues in demanding the Office of Special Counsel (OSC) investigate whether Secretary Ben Carson of the Department of Housing and Urban Development (HUD), violated the Hatch Act. The Hatch Act limits the use of federal resources for certain political activities of federal employees. The lawmakers made clear that HUD’s decision to distribute Secretary Carson’… Continue Reading
August 27, 2020
Brown Statement On HUD and FHFA Again Extending Foreclosure Moratoriums for Homeowners During The Coronavirus Pandemic
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement following the announcement that the Department of Housing and Urban Development (HUD) and Federal Housing Finance Agency (FHFA) will extend the suspension of foreclosures on FHA-insured and Fannie Mae- and Freddie Mac-backed mortgages until at least December 31, 2020. While the announcement extends protections for some homeowners, mill… Continue Reading
August 21, 2020
Brown Blasts SEC For Moving Anti-Investor Proposal Forward
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today sent a letter to Securities and Exchange Commission (SEC) Chair Jay Clayton regarding the Procedural Requirements and Resubmission Thresholds under Exchange Act Rule 14a-8. The SEC is expected to finalize the rule next month, but Brown in his letter urged the agency to withdraw the rule, which based on the SEC’s own data could prevent a substantial portion of individual… Continue Reading
