Majority Press Releases
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
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
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
