Majority Press Releases
BROWN DEMANDS HUD AND INDEPENDENT FINANCIAL REGULATORS CEASE NON-CORONAVIRUS RELATED RULEMAKING DURING THIS PUBLIC HEALTH EMERGENCY
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 letters to the Department of Housing and Urban Development (HUD) and independent financial regulators demanding that they suspend all rulemaking that could impede the federal response to the COVID-19 pandemic.“The COVID-19 virus threatens both the health of the public and the economy. It presents immediate challenges to real households and ever… Continue Reading
March 11, 2020
ICYMI: Brown Again Calls For FSOC Briefing As Trump Meets With Bank CEOs, Mnuchin
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - once again called on Treasury Secretary Steven Mnuchin, Chair of the Financial Stability Oversight Council (FSOC), and FSOC member agencies to schedule a meeting of the Council and brief the Senate Committee on Banking, Housing and Urban Affairs on the Council’s plan to address the threat of an economic downturn due to coronoavirus. Brown’s call follows… Continue Reading
March 11, 2020
Brown Calls On Administration to Address Federally-Assisted Housing Coronavirus Concerns
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 wrote to Vice President Mike Pence, Secretary Ben Carson and Secretary Sonny Perdue asking that the Administration and the White House Coronavirus Task Force take steps to address the health and economic concerns of millions of Americans who live in federally-assisted housing properties. Brown called on the Administration to engage with residents, owners … Continue Reading
March 10, 2020
Brown: ‘Director Kraninger Should Return the Consumer Protection Bureau to Its Core Mission: Put Consumers First.’
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: “The Consumer Financial Protection Bureau’s Semiannual Report to Congress.” Today, Brown released a report ahead of Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger’s report.The report details the ways the agency has failed to live up to its mission under Director Kraninger’s lead… Continue Reading
March 10, 2020
Brown Releases Report Outlining How CFPB Fails to Carry out Mission, Betrays Americans under Director Kraninger’s Leadership
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 Democrats on the Committee released a report today ahead of Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger’s semi-annual report to Congress. The report details the ways the agency has failed to live up to its mission under Director Kraninger’s leadership, including failing to defend the constitutionality of the CFPB, ref… Continue Reading
March 5, 2020
Brown Stands Up Against Economic, National Security Threats Posed By State-Owned & State-Supported Chinese Rail and Bus Companies
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: “Threats Posed by State-Owned and State-Supported Enterprises to Public Transportation.” Sen. Brown’s remarks, as prepared for delivery, follow:Thank you, Mr. Chairman, for calling today’s hearing on a bipartisan bill that you and I, along with Senators Cornyn and Baldwin and 48 others, suc… Continue Reading
March 4, 2020
Brown, Senate Democrats to SEC: New Rules Harm Investors and Limit Corporate Accountability
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 with Senators Jack Reed (D-RI), Brian Schatz (D-HI) and Dick Durbin (D-IL) today to the Securities and Exchange Commission (SEC) in response to proposed rules that will restrict shareholder rights and limit corporate accountability to shareholders. The Senators wrote that the proposed rules would limit the ability of small shareholders to … Continue Reading
March 4, 2020
Brown Calls for FSOC Briefing on Plans to Address Risks of Economic Downturn Due To Coronavirus
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs -called on Treasury Secretary Steven Mnuchin, Chair of the Financial Stability Oversight Council (FSOC), and FSOC member agencies to brief the Senate Committee on Banking, Housing and Urban Affairs on the Council’s plan to address the threat of an economic downturn due to coronoavirus.In the letter, the Senator highlighted FSOC’s lack of response to other… Continue Reading
March 3, 2020
Brown Statement on Fed Interest Rate Cut In Face of Coronavirus Concerns
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 the following statement after Fed Chair Jerome Powell announced an interest rate cut amid concerns about the coronavirus.“Today, Federal Reserve Chairman Powell reminded us how our leaders should act when faced with a public health emergency and its potential economic impacts—with a steady hand, reliance on facts, and coordination with ou… Continue Reading
March 2, 2020
Brown Once Again Fights Trump Administration Efforts to Undermine Consumer Protection Agency
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 as the Supreme Court is set to hear oral arguments this week in Seila Law v. CFPB, a case to determine whether the Consumer Financial Protection Bureau (CFPB) is constitutionally structured. Brown has been a vocal champion of the CFPB since its inception and has led efforts by the Trump Administration to dismantle the co… Continue Reading
February 25, 2020
Brown Opening Statement at Banking Committee Hearing on Surface Transportation Reauthorization
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: "Surface Transportation Reauthorization: Public Transportation Stakeholders' Perspectives." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for calling this hearing. I look forward to working with you to develop a bipartisan transit title for a surface transportati… Continue Reading
February 21, 2020
Brown Statement on Wells Fargo Settlement
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 Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) announced the settlement with Wells Fargo following the company's failure to detect millions of fraudulent accounts opened in customers' names. "Today's announced settlement sends a clear message to Wall Street banks: you can defraud American… Continue Reading
February 21, 2020
Brown Statement on CRA Comment Period Extension
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) and the Federal Deposit Insurance Corporation (FDIC) extended the comment period for their proposed rulemaking on the Community Reinvestment Act (CRA). "Comptroller Otting and Chair McWilliams have finally acknowledged what civil rights leaders and others have been sayin… Continue Reading
February 13, 2020
Brown Presses Nominees on Independence of the Federal Reserve
Senator's OPENING STATEMENT AT BANKING COMMITTEE HEARING ON NOMINATION 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 nominees to be a Member of the Board of Governors of the Federal Reserve System. Sen. Brown's remarks, as prepared for delivery, follow: Mr. Chairman, thank you. Ms. Shelton and Mr. Waller, I would like to extend my greeting… Continue Reading
February 13, 2020
Brown, Senate Democrats Press Upstart, Lenders for Answers Following Reports of Higher Interest Rates for Students of Minority-Serving Institutions
WASHINGTON -- Today, Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, and Senators Elizabeth Warren (D-MA), Bob Menendez (D-NJ), Cory Booker (D-NJ) and Kamala Harris (D-CA) pressed Upstart and other lenders and service providers for answers following a report from the nonprofit Student Borrower Protection Center that lenders may be charging higher interest rates to students who graduated from Historically Black Colleges and Universities … Continue Reading
February 12, 2020
Brown Presses Republican Colleagues on Trump's 'Retribution Tour'
Senator's Opening Statement on the Semiannual Monetary Policy Report to Congress 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 the Congress". Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. Chair Powell, welcome back to the Committee. Before we start, I wan… Continue Reading
February 6, 2020
Brown, Senators Seek Answers On Federal Reserve Repurchase Activity Ahead of Hearing
WASHINGTON, DC - U.S. Senators Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, along with Sens. Reed (D-RI), Warren (D-MA) and Smith (D-MN), wrote to Federal Reserve Chairman Jerome Powell requesting answers regarding the Federal Reserve’s ongoing repurchase activity.“Though the Fed’s actions are consistent with its policy of maintaining the targeted interest rate range, we have not seen interventions of this size and persistence si… Continue Reading
February 5, 2020
Brown, Warren Request Answers From CFPB Director Regarding Federal Consumer Law Taskforce
WASHINGTON, DC - U.S. Senators Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Elizabeth Warren (D-MA), Ranking member of the Financial Institutions and Consumer Protection Subcommittee, wrote a letter to Consumer Financial Protection Bureau (CFPB) Director Kathleen Kraninger requesting answers regarding the Taskforce’s formation, composition, and the selected Taskforce members’ conflicts-of-interests. Instead of selecting a diverse gr… Continue Reading
February 3, 2020
Brown, Menendez Demand Answers From CFPB Director On Failure To Protect Student Loan Borrowers
WASHINGTON, DC - U.S. Senators Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, and Bob Menendez (D-NJ) wrote a letter to Consumer Financial Protection Bureau (CFPB) Director Kathleen Kraninger demanding answers regarding the CFPB’s failure to conduct oversight of federal student loan servicers. “We are deeply disturbed by your lack of transparency with Congress. But we are even more disturbed by the way you have stood by—and continu… Continue Reading
January 30, 2020
Brown Leads Banking Dems In Questioning Homelessness Chief's Direction
WASHINGTON, DC - U.S. Senator Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, led all Committee Democrats in requesting answers from U.S. Interagency Council on Homelessness (USICH) Executive Director Robert Marbut regarding the policies and approach he may advance as the new leader of the USICH. USICH plays a critical role in the nation’s response to homelessness, coordinating the work of 19 federal agencies and building partners… Continue Reading
