Majority Press Releases
Brown, Senate Dems Demand HUD Reverse Eric Blankenstein's Promotion
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee and four Banking Committee Democrats are demanding the Department of Housing and Urban Development (HUD) rescind the promotion of Eric Blankenstein to Executive Vice President at the Government National Mortgage Association (Ginnie Mae). In a letter to HUD Secretary Ben Carson, the Senators cited Blankenstein’s racist and sexist remarks, and the previous Inspector… Continue Reading
November 19, 2019
Brown Blasts Regulators for Approving BB&T and SunTrust Merger
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee blasted the Federal Reserve and FDIC for approving the merger BB&T and SunTrust Bank. The merger is the largest since the financial crisis, sending a signal that the agencies are open for business for further consolidation of the largest banks.“The merger of BB&T and SunTrust, along with the agencies’ gutting of regulation, will further decrease competition among … Continue Reading
November 7, 2019
Brown, Grassley Introduce Legislation To Provide Stable Housing For Foster Youth Transitioning To Adulthood
WASHINGTON, D.C. - Today, U.S. Sens. Sherrod Brown (D-OH), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, and Charles Grassley (R-IA), Chairman of the Senate Finance Committee, introduced legislation to help provide stable housing options for foster care youth transitioning to adulthood. Each year, approximately 20,000 youth across the country age out of foster care. Unfortunately, this sudden transition places these vulnerable young adults at risk of homeless… Continue Reading
October 28, 2019
Senate Democrats Slam Carson For Undercutting Transgender Rights
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs along with thirty two Senators are demanding Housing and Urban Development (HUD) Secretary Ben Carson retract his statements about the rights of transgender individuals, following dismissive remarks he made during a staff meeting according to the Washington Post.“We are deeply concerned that your comments undercut protections provided to transgender people… Continue Reading
October 28, 2019
Senate Democrats Slam Carson For Undercutting Transgender Rights
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs along with thirty two Senators are demanding Housing and Urban Development (HUD) Secretary Ben Carson retract his statements about the rights of transgender individuals, following dismissive remarks he made during a staff meeting according to the Washington Post.“We are deeply concerned that your comments undercut protections provided to transgender people… Continue Reading
October 22, 2019
Brown Opening Statememt at Banking Committee Hearing on Consolidated Audit Trail
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 the Status of the Consolidated Audit Trail’. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Chairman Crapo, and welcome to our witnesses. We are just shy of 200 days from the 10th anniversary of the 2010 flash crash. Although there hasn’t been a marke… Continue Reading
October 17, 2019
Brown Opening Statement at Hearing On CFPB Semi-Annual 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 Consumer Financial Protection Bureau’ Semiannual Report to Congress’. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. We created the Consumer Financial Protection Bureau to stand up for students, servicemembers, and other hardworking Americans a… Continue Reading
October 11, 2019
Brown Statement On Payment Providers Declining To Join Facebook's Libra Association
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 on MasterCard, Visa, and Stripe announcing that they will not join Facebook’s Libra Association. “Large payment companies are wise to avoid legitimizing Facebook’s private, global currency,” said Brown. “Facebook is too big and too powerful, and it is unconscionable for financial companies to aid it in monopolizing our … Continue Reading
October 10, 2019
Brown and Murray Lay Out Expectations For New CFPB Student Loan Ombudsman
Washington, D.C. -U.S. Senator Sherrod Brown (D-OH), ranking member of the Senate Banking, Housing, and Urban Affairs Committee, and Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, sent a letter to the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman Mr. Robert Cameron laying out guiding principles and expectations for the Student Loan Ombudsman's Office“As you know, the Consumer Financial Protection Act … Continue Reading
October 9, 2019
Brown, Schatz Warn Payments Providers Of Risks With Libra Association
WASHINGTON - Today, U.S. Senator Sherrod Brown (D-Ohio), Ranking Member of the Senate Banking Committee and U.S. Senator Brian Schatz (D-Hawai‘i), a member of the Senate Banking Committee, sent letters to the CEOs of Visa, MasterCard, and Stripe to express deep concerns over Facebook’s Libra Association and to urge potential member companies to proceed with caution until Facebook is able to provide real answers. PayPal left the Libra Association on Friday. “We are concerned because key que… Continue Reading
September 27, 2019
Brown and Waters Call On Appraisal Subcommittee To Provide Answers On Unprecedented Appraisal Waiver
Washington, D.C. - U.S. Senator Sherrod Brown (D-OH), ranking member of the Senate Banking, Housing, and Urban Affairs Committee and Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a letter to the Appraisal Subcommittee (ASC) Chairman Arthur Lindo requesting answers about ASC’s decision to grant a waiver of appraiser certification and licensing to the state of North Dakota. Created in 1989 by Congress, ASC strengthened federal oversight of t… Continue Reading
September 26, 2019
Brown Demands Answers From CFPB On Why Funds Were Not Returned To Harmed Consumers
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - is demanding that the Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger stop protecting bad actors at the expense of harmed consumers. In his letter, Brown criticized the CFPB enforcement actions under Director Kraninger that have provided little and in some cases zero monetary relief for consumers. “This is a critical function of the B… Continue Reading
September 17, 2019
Banking Committee Senators Urge CFPB to Protect Consumers' Access to Safe, Affordable Mortgages
BANKING COMMITTEE SENATORS URGE CFPB TO PROTECT CONSUMERS’ ACCESS TO SAFE, AFFORDABLE MORTGAGES 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 Senate Banking Committee Democrats in urging that the Consumer Financial Protection Bureau (CFPB) maintain strong consumer protections and access to credit as it revises the Qualified Mortgage (QM) and Ability to Repay (ATR) rules under the Truth in Lendi… Continue Reading
September 13, 2019
ICYMI: WaPo –‘ TRUMP’S HOUSING FINANCE PLAN WILL MAKE MORTGAGES MORE EXPENSIVE, ESPECIALLY FOR BLACK BORROWERS, HOUSING GROUPS SAY’
WASHINGTON, D.C. - In case you missed it, the Washington Post reported that fair housing and lending groups say that the Trump Administration’s proposed housing finance plan will make mortgages more expensive for black borrowers in the South, Midwest and rural communities. The administration proposed a plan last week that will make mortgages more expensive and harder to get.During a Senate Banking Committee hearing on Tuesday, entitled ‘Housing Finance Reform: Next Steps,’ U.S. Senator S… Continue Reading
September 12, 2019
Senate Banking Committee Democrats Demand Capital One Protect Consumers Impacted By Data Breach
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 Senate Banking Committee Democrats in demanding that Capital One take action to protect the more than 100 million consumers impacted by the March 2019 data breach. In response to the data breach, Capital One promised to provide free credit monitoring and identity protection services to its consumers. As the Senators describe in the letter, Capital On… Continue Reading
September 10, 2019
Brown Opening Statement at Hearing on Housing Finance Reform
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 ‘Housing Finance Reform: Next Steps’. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, and thank you to all of our witnesses for being here today. We’re going to hear from the Trump Administration about the “next steps” on housing finance reform, but it’… Continue Reading
September 5, 2019
BROWN TO TRUMP: DO NOT RAISE MORTAGE RATES FOR WORKING FAMILIES
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 - slammed President Trump’s housing finance reform proposal as another industry giveaway that would destabilize the economy, raise mortgage and rent costs and limit access to mortgages for working people across the country.“President Trump’s housing plan will make mortgages more expensive and harder to get. I’m urging the President: Make it easier f… Continue Reading
September 4, 2019
Brown Commends Civil Rights Community's Housing Finance Reform Proposals
WASHINGTON, D.C. — Today, following the release of a letter from civil rights and advocacy organizations on guiding principles of housing finance reform, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs -applauded their work to ensure access to sustainable, affordable rental and homeownership opportunities throughout the housing market. “Civil Rights organizations have laid out a strong plan for an equitable housing market… Continue Reading
September 3, 2019
Brown and Murray Demand Answers From New CFPB Student Loan Ombudsman
Washington, D.C. -U.S. Senator Sherrod Brown (D-OH), ranking member of the Senate Banking, Housing, and Urban Affairs Committee and Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, sent a letter to the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman Robert Cameron demanding answers as to how he will carry his duties in his new role given his potential conflicts of interest from working for the federal s… Continue Reading
August 22, 2019
Brown to White House: Do Not Put Housing Market and Taxpayers At Risk
WASHINGTON, D.C. — Today, following news reports that the Treasury Department has submitted its housing finance reform plan to the White House for the final signoff, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - warned the Trump Administration that if its housing reform plan fails to protect the housing market and working families it could risk destabilizing the economy. “In March, stakeholders told us what it takes to… Continue Reading
