Majority Press Releases
Brown Opening Statement at Banking Committee Hearing on The Federal Reserve's Semiannual Monetary Policy Report
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 Semiannual Monetary Policy Report to Congress”. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for holding this virtual hearing, and thank you, Chair Powell, for participating in this hearing remotely to practice social distancing and to prevent t… Continue Reading
June 16, 2020
Brown, Schumer Push Newly Confirmed Special Inspector General For Pandemic Recovery (SIGPR) Brian Miller To Demonstrate His Independence And Integrity
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Senate Democratic Leader Chuck Schumer (D-NY), yesterday sent a letter to newly confirmed Special Inspector General for Pandemic Recovery (SIGPR) Brian Miller reminding him of his commitment to the American people and his oversight responsibilities. Specifically, the lawmakers urged Inspector General Miller to resist influence or pressure, uphold the l… Continue Reading
June 15, 2020
Brown Urges Fannie, Freddie, and the Trump Administration to Do More to Protect Renters From Evictions
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, wrote to Fannie Mae and Freddie Mac demanding that they do more to protect renters in Fannie Mae- and Freddie Mac-backed properties from illegal eviction. Senator Brown’s push comes on the heels of reports from around the country of property owners filing evictions which may not comply with protections included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).… Continue Reading
June 12, 2020
In New Letter To Secretary Mnuchin And SBA Administrator Carranza, Sens. Brown, Schumer, Cardin, And Shaheen Lead All 47 Senate Democrats In Calling For Urgently-Needed Improvements To Streamline And Simplify Current, Onerous Process For Smaller Businesses Applying For PPP Loan Forgiveness
Washington, D.C.— All 47 Senate Democrats, led by 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-NY), Senate Committee on Small Business and Entrepreneurship Ranking Member Ben Cardin (D-MD), and Senator Jeanne Shaheen (D-NH), today sent a letter to Treasury Secretary Steven Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza calling for urgently needed … Continue Reading
June 10, 2020
Brown, Wyden, Booker Seek Answers On Federal Use Of Facial Recognition Technology To Monitor Nationwide Protest
U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sen. Ron Wyden (D-OR), Ranking Member of the U.S. Senate Committee on Finance, and Senator Cory Booker (D-N.J.), today sent a letter to Attorney General William Barr and Acting Secretary of Homeland Security Chad Wolf expressing concern about the use of facial recognition technology to gather information on those Americans who joined in protest of systemic racial injustice. A… Continue Reading
June 9, 2020
Brown Joins Bicameral Request for an Investigation into HUD’s Policy Changes to Deny DACA Recipients FHA-Backed Mortgage Loans
WASHINGTON D.C. -U.S. Senator Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joined a bicameral group of colleagues in requesting the Inspector General for the Department of Housing and Urban Development (HUD) to open an investigation into whether the agency violated the Administrative Procedure Act (APA) in its decision to change the agency’s policy to deny Federal Housing Administration (FHA) insured loans to Deferred Action for… Continue Reading
June 9, 2020
BROWN URGES HOUSING REGULATORS TO WORK FOR A MORE EQUITABLE HOUSING SYSTEM
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 “Oversight of Housing Regulators.” Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman. Over the past two weeks, protesters have taken to the streets demanding justice: Justice for George Floyd and Breonna Taylor and Ahmaud Arbery and so many other Black A… Continue Reading
June 4, 2020
BROWN CALLS ON AMERICANS TO PROTECT HUMAN RIGHTS AT HOME AND ABROAD
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 “Crisis in Hong Kong: A Review of U.S. Policy Tools.”Sen. Brown’s remarks, as prepared for delivery, follow: Thank you Mr. Chairman. At our hearing earlier this week, a number of us said that this committee must show Americans that we are on their side - that we see our black and brow… Continue Reading
June 2, 2020
Brown Statement on Brian Miller’s Confirmation to be Special Inspector General for Pandemic Recovery (SIGPR)
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 Brian Miller was confirmed to be Special Inspector General for Pandemic Recovery (SIGPR):“Now that he has been confirmed as SIGPR, Mr. Miller must show Congress and the American people that he is capable of acting independently from the Administration and that he will hold all bad actors accountable,” said Senator Br… Continue Reading
June 2, 2020
BROWN CALLS FOR AMERICANS TO STAND WITH ESSENTIAL WORKERS & FOR THE DIGNITY OF WORK
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 “Implementation of Title IV of the CARES Act.”Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman for holding this hearing.The pandemic has been the ‘great revealer.’ It reminds us how vulnerable many Americans are, and how the economy and government policy… Continue Reading
June 1, 2020
Brown To SEC: Put Investors First Now and After 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 sent a letter to Securities and Exchange Commission (SEC) Chair Jay Clayton expressing concern about the implementation of Regulation Best Interest(Reg. BI), which takes effect on June 30, 2020. Brown in his letter urged the SEC to provide robust oversight of brokers and dealers and thorough enforcement of Reg. BI to protect savers, retirees, and workers as they naviga… Continue Reading
May 29, 2020
Brown Statement On Otting’s Resignation From The Office Of The Comptroller Of The Currency (OCC)
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 the news that Joseph Otting, Comptroller of the Currency, resigned from his post after finalizing a rule on the Community Reinvestment Act (CRA). The CRA was enacted to address longstanding racial discrimination in our nation’s housing policies and increase access to credit in historically disinvested communities… Continue Reading
May 29, 2020
Brown, Warren, Merkley, Colleagues Demand Education Department Hold Student Loan Servicer Great Lakes Accountable for CARES Act Blunder That Likely Lowered Credit Scores for Millions of Borrowers
WASHINGTON, D.C.,- U.S. Senators Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - Elizabeth Warren (D-MA), Jeff Merkley (D-OR), Dick Durbin (D-IL), Richard Blumenthal (D-CT), and Tina Smith (D-MN) sent a letter to Secretary of the U.S. Department of Education (ED) Betsy DeVos raising serious concerns about reports that one of ED's federal student loan servicers, Great Lakes Educational Loan Services, Inc. (which is owned by Nelne… Continue Reading
May 28, 2020
Brown Statement On Trump Administration Announcement Of $10 Billion Set-Aside For CDFIs In The Paycheck Protection 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 following the announcement that the Trump Administration will set aside $10 billion for Community Development Financial Institutions (CDFIs) participating in the Paycheck Protection Program (PPP): “Across the country, CDFIs serve low-income, rural, and minority small business owners and communities. They need and deserve access to … Continue Reading
May 27, 2020
Brown, Colleagues Seek Answers from Trump Administration on the Borrower Protection Program
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 led 7 of his Senate colleagues in a letter requesting additional information on the Borrower Protection Program that the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) announced in April. The agencies’ announcement stated that the CFPB and FHFA would share data under the program but did not say how that data … Continue Reading
May 22, 2020
Brown, Senators Introduce Bill to Prevent Garnishment of Relief Payments
Washington - U.S. Senator Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Senate Finance Committee Chairman Chuck Grassley (R-Iowa), Finance Committee Ranking Member Ron Wyden (D-Ore.) and Sen. Tim Scott (R-S.C.) introduced a bill to protect recovery payments provided in the recent CARES Act pandemic response legislation from garnishment by private debt collectors.“During this public health crisis, we must come together to protect… Continue Reading
May 21, 2020
BROWN, WARREN, REED, COLLEAGUES BLAST JETBLUE, DELTA FOR ACCEPTING FEDERAL CARES ACT BAILOUT FUNDS AND THEN CUTTING EMPLOYEES' HOURS, PAYCHECKS
WASHINGTON D.C. - United States Senators Sherrod Brown (D-OH) Elizabeth Warren (D-MA) and Jack Reed (D-RI), along with Senators Edward J. Markey (D-MA), Kirsten Gillibrand (D-NY), Sheldon Whitehouse (D-RI), Bernie Sanders (I-VT), Robert Menendez (D-NJ), Jeff Merkley (D-OR.), Mazie K. Hirono (D-HI), Brian Schatz (D-HI), Ron Wyden (D-Ore.), and Kamala D. Harris (D-Calif.), sent letters to JetBlue and Delta expressing concern about the companies' decision to cut the hours of their employees a… Continue Reading
May 20, 2020
Brown, Murray, Colleagues Demand Answers from CFPB Director on Agency’s Oversight Plans for the Student Loan Market
U.S. Senator Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joined U.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Sen. Jack Reed (D-RI), Sen. Chris Van Hollen (D-MD), Sen. Brian Schatz (D-HI), Sen. Elizabeth Warren (D-MA), Sen. Bob Menendez (D-NJ), and Sen. Tina Smith (D-MN) in sending a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy … Continue Reading
May 20, 2020
Brown Condemns Otting For Rushing Flawed Final CRA Rule As He Plans Agency Exit
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 Office of the Comptroller of the Currency (OCC) announced new rules on the Community Reinvestment Act (CRA). Federal Deposit Insurance Corporation (FDIC) did not join in the final rule and the proposed rule did not have the backing of the Federal Reserve Board of Governors. The CRA was enacted to address longstan… Continue Reading
May 19, 2020
Brown, Senate Dems Blast Consumer Financial Protection Bureau (CFPB) Director For Defending The Rulemaking Process For Payday Lending Rule
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sen. Brian Schatz (D-HI), Sen. Elizabeth Warren (D-MA), Sen. Dick Durbin (D-IL) and Sen. Tina Smith (D-MN) today sent a letter to the Consumer Financial Protection Bureau (CFPB) after Director Kraninger defended the CFPB’s rulemaking process for the Payday Rule. The Senators again urged the agency to halt work on the current Payday Rule and restart the rulemaking process. T… Continue Reading
