Majority Press Releases
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
August 20, 2020
Brown, Colleagues Sound Alarm, Demand Answers Regarding Fannie Mae & Freddie Mac’s Sudden Decision to Increase Mortgage Refinancing Costs for Homeowners In The Midst Of An Economic Downturn
U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today led 15 Senate Democrats in a letter to Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), expressing concern and demanding answers regarding the sudden announcement that Fannie Mae and Freddie Mac (the Enterprises) will begin charging an additional 50 basis points in up-front fees for all refinance loans delivered to the Enterprises on or after Septemb… Continue Reading
August 14, 2020
Brown Statement On The GSE Fee Increase
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 Fannie Mae and Freddie Mac (the GSEs) announced their decision, which was approved by their regulator, the Federal Housing Finance Agency (FHFA), to raise costs for home refinances: “This is what one would expect from Trump’s FHFA Director. FHFA and the GSEs’ decision to raise costs on homeowners will hurt families … Continue Reading
August 11, 2020
Brown, Colleagues Urge FHFA To Extend The Comment Period For Critical Capital Rule
U.S. Sen. Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today led 9 Senate Democrats in a letter to Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), urging the agency to extend the comment period for the proposed capital framework for Fannie Mae and Freddie Mac. The Senators cited the importance and complexity of the proposal, as well as the ongoing public health crisis, in calling for the extension. The Se… Continue Reading
August 10, 2020
BROWN: PRESIDENT TRUMP’S MEANINGLESS EXECUTIVE ORDERS DO NOTHING TO MAKE UP FOR HIS FAILURE TO ADDRESS PUBLIC HEALTH & ECONOMIC CRISES
CLEVELAND, OH - U.S. Senator Sherrod Brown (D-OH) today released a statement following President Trump’s announcement that he signed executive orders related to payroll tax, unemployment benefits, student loan payments, and evictions moratoriums. These meaningless PR stunts do not provide enough relief for Ohio workers and families to make up for the President’s failure to address the pandemic. “The President has shown no leadership since day one, and now he’s trying to save face by ann… Continue Reading
August 7, 2020
Brown, Colleagues Demand Trump Administration Rescind Proposals Leaving Workers’ Retirement Savings At Risk
WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor, and Pensions Committee, and Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee joined the House Education and Labor Committee Chairman Robert C. “Bobby” Scott, and House Financial Services Committee Chairwoman Maxine Waters in sending a letter to Labor Secretary Eu… Continue Reading
August 7, 2020
Brown Statement on the Confirmation of Caroline Crenshaw to the Securities and Exchange Commission
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 Ms. Caroline Crenshaw was confirmed by the Senate to the Securities and Exchange Commission (SEC):“Ms. Crenshaw's history of public service and commitment to ensuring the financial markets work for all Americans will serve her well as an SEC Commissioner. I am confident that in her work she will think first about the… Continue Reading
August 6, 2020
Brown Presses CFTC For A Comprehensive Review of Possible Oil Market Manipulation; Says The Agency Must Do More To Protect Consumers From Market Abuses
Washington, DC - 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 Commodity Futures Trading Commission (CFTC) Chair Heath Tarbert pushing for the agency to complete a thorough review of the unusual trading in oil futures that occurred earlier this year. The Senator citedrecent press reports that alleged one trading firm was central to the market conditions that caused the price of oil to fall below ze… Continue Reading
August 4, 2020
Brown, Colleagues Urge Congressional Leaders Negotiating The Next Coronavirus Relief Package To Ban Arbitration Clauses Attached To Needed Benefits
WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Bob Menendez, a senior member of the both the Banking and Finance Committee, led its Democratic members in urging lead negotiators of the next COVID-19 stimulus package to prohibit the Federal Government from attaching forced arbitration agreements to any form of benefit payments to Americans. Last March, the pre-paid debit cards IRS sent to four m… Continue Reading
July 31, 2020
Warren, Brown Criticize Fed Vice Chair Quarles' "Outrageous and Irresponsible" Lobbying for Regulatory Favors for Big Banks in COVID-19 Relief Package
Text of letter to Quarles (PDF) Text of letter to Powell (PDF) Washington, DC - United States Senators Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs' Subcommittee on Consumer Protection and Financial Institutions, and Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Federal Reserve's Vice Chairman for Supervision Randal Quarles questioning why he … Continue Reading
July 31, 2020
Brown, Warren, and Harris Call On CFPB To Protect Borrowers from Discrimination
United States Senators Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs’ Subcommittee on Consumer Protection and Financial Institutions, and Kamala D. Harris (D-Calif.) sent a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger urging the agency to take immediate actions to address potential viola… Continue Reading
July 29, 2020
At Hearing Brown Pushes CFPB Director To Protect Consumers, Not Corporations
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 Consumer Financial Protection Bureau’ Semiannual Report to Congress’.Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for holding this virtual hearing, and thank you, Director Kraninger, for participating in this hearing remotely to practice social … Continue Reading
July 23, 2020
Brown Statement On The Passage Of His Bipartisan Bill To Prevent Garnishment Of Relief Payments
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 following passage of a bill he introduced with Senate Finance Committee Chairman Chuck Grassley (R-Iowa), Finance Committee Ranking Member Ron Wyden (D-Ore.), and Sen. Tim Scott (R-S.C.) to protect CARES Act recovery payments provided from garnishment by private debt collectors: “During this public health crisis, Congre… Continue Reading
July 23, 2020
Brown’s Statement on HUD’s Action to Undermine the Fair Housing Act
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 Administration announced its final Affirmatively Furthering Fair Housing (AFFH) rule, gutting a key element of the Fair Housing Act:“It’s a dark day for the country when the President boasts about maintaining housing segregation, and the agency charged with carrying out the Fair Housing Act becomes a tool to help… Continue Reading
July 23, 2020
Brown Calls On His Colleagues To Pass Rental Assistance And Provide Relief For Millions Of Renters And Homeowners
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 continued his push for emergency rental assistance to help the millions of people struggling to pay their rent or at risk of losing their homes.“The House passed the HEROES Act nearly two months ago. That would have eliminated these cliffs, provided $100 billion in emergency rental assistance, and given families some peace of mind,” said, Senator Brow… Continue Reading
July 21, 2020
Brown’s Remarks During Executive Session On The Nominations Of Dr. Judy Shelton And Dr. Christopher Waller
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 delivered remarks during an Executive Session to consider the nominations of Dr. Judy Shelton and Dr. Christopher Waller to be Members of the Board of Governors of the Federal Reserve System:Thank you, Mr. Chairman.And thank you to all of my colleagues for wearing masks today. It keeps all of us in this room safe, including staff members. It model… Continue Reading
July 21, 2020
Brown Opening Statement at Nomination 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 on nominations to the Securities and Exchange Commission and the National Credit Union Administration Board:Thank you, Chairman Crapo, for holding today's nomination hearing.First, I want to take a brief moment to remember my friend and colleague, Representative John Lewis. Let us honor his lega… Continue Reading
July 21, 2020
Brown, Cortez Masto, Colleagues Press OCC For Information On The Agency’s Fair Lending Oversight
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Sen. Catherine Cortez Masto (D-Nev.) today joined 16 of their Senate colleagues in sending a letter to the Office of the Comptroller of the Currency (OCC), pressing the agency for information on how it pursues violations of civil rights laws by financial institutions. The Senators cited press reports that show the OCC undermined OCC examiners’ e… Continue Reading
July 16, 2020
BROWN, LEADER SCHUMER, SENATE DEMOCRATS ANNOUNCE HISTORIC PROPOSAL FOR $350 BILLION INVESTMENT IN COMMUNITIES OF COLOR
WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Senate Democratic Leader Chuck Schumer (D-NY) and Senate Democrats today unveiled the Economic Justice Act, a major new legislative proposal to make $350 billion in immediate and long-term investments in Black communities and other communities of color. For far too long, Congress has underfunded critical priorities like public health, child care, infrastructure, and job creation in these communities. Senate Democrats’ plan woul… Continue Reading
July 10, 2020
Senate Banking Committee Democrats Urge Chairman Crapo To Hold Another Hearing On Dr. Judy Shelton’s Nomination to the Federal Reserve Board
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, led a letter signed by all Committee Democrats to U.S. Senator Mike Crapo (R-ID), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs urging him to hold another hearing on Dr. Judy Shelton’s nomination for the Board of Governors of the Federal Reserve before moving her nomination forward. On Friday, Chairman Crapo announced that he … Continue Reading
