Majority Press Releases
Brown To SEC: Put Investors 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 - released the following statement on the Securities and Exchange Commission’s (SEC) final rule and interpretations issued this week on the standards of conduct for investment advisers and broker-dealers. This rule weakens investor protection and allows Wall Street to continue gaming the system at the expense of Americans saving and investing for their futu… Continue Reading
June 6, 2019
In Wake of Crackdown on Annoying Robocalls, Menendez, Brown Lead Colleagues in Calling on Trump Administration to Protect Consumers from Abusive Debt Collection Tactics
WASHINGTON, D.C. - Following passage of legislation cracking down on annoying and unwanted robocalls, U.S. Senators Bob Menendez (D-N.J.) and Sherrod Brown (D-Ohio), ranking member of the Senate Banking Committee, today led a group of 24 colleagues in calling on Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger to reverse a proposed rule that would, for the first time, allow debt collection companies to send unlimited texts and emails to consumers. Just last year, ofte… Continue Reading
June 6, 2019
Brown, Van Hollen Senate Democrats Urge Fed Investigate Deutsche Bank’s Relationship with Trump and Kushner
WASHINGTON - Today U.S. Senators Chris Van Hollen (D-Md.) and Sherrod Brown (D-Ohio), ranking member of the Senate Banking Committee, led a letter with Democrats on the Committee asking the Federal Reserve to investigate Deutsche Bank’s relationship with President Trump and Jared Kushner, following reports that Bank officials ignored suspicious activities on accounts associated with the two men. Senators Jack Reed (D-R.I.), Robert Menendez (D-N.J.), Elizabeth Warren (D-Mass.), Catherine C… Continue Reading
June 4, 2019
Brown Opening Statement at Banking Committee Hearing on Confronting Threats From 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 - delivered the following opening statement at today’s hearing entitled “Confronting Threats From China: Assessing Controls on Technology and Investment, and Measures to Combat Opioid Trafficking”. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for calling this important hearing to assess key questions before the committee… Continue Reading
May 23, 2019
ICYMI: Brown Presses Treasury To Investigate Deutsche Bank
In case you missed it, MSNBC’s Rachel Maddow discussed with Senate Banking Committee ranking member Sherrod Brown his demands for more information from Deutsche Bank following the New York Times story exposing that the bank’s anti-money laundering specialists had repeatedly recommended the filing of suspicious activity reports (SARs) on transactions by Trump entities, including the Trump Foundation, and by Kushner companies -- including transactions with overseas actors. · … Continue Reading
May 21, 2019
Senators To Deutsche Bank: Why Did You Block Filing Of Trump And Kushner Suspicious Activity Reports?
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 Sen. Chris Van Hollen (D-MD) are demanding more information from Deutsche Bank following the New York Times story exposing that the bank’s anti-money laundering specialists had repeatedly recommended the filing of suspicious activity reports (SARs) on transactions by Trump entities, including the Trump Foundation, and by Kushner companies -- including… Continue Reading
May 21, 2019
Brown Opening Statement Hearing On Beneficial Ownership
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 “Combating Illicit Financing by Anonymous Shell Companies Through the Collection of Beneficial Ownership Information”. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for calling this important hearing as a follow-up to previous hearings in the Committ… Continue Reading
May 15, 2019
Brown Opening Statement at Hearing on Oversight of the Financial Regulators
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 Financial Regulators”. Sen. Brown’s remarks, as prepared for delivery, follow: When you look at all the rules the regulators have torn up over the last year and a half, you have to wonder if they want to see another financial crisis. In 2006, back when President Tru… Continue Reading
May 14, 2019
Brown Slams Mnuchin's Proposed Changes to Nonbank SiFi Designations
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 a statement today opposing the Financial Stability Oversight Council’s (FSOC) proposed interpretive guidance for nonbank SIFI designations. Brown’s comments come after former Chairs of the Federal Reserve, Ben Bernanke and Janet Yellen and former Secretaries of the Treasury, Timothy Geithner and Jacob Lew submitted a comment letter opposing FSOC’… Continue Reading
May 13, 2019
Brown: Regulators Must Take Action to Address Risks of Leveraged Lending
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - sent a letter ahead of the Senate Banking Committee’s May 15th hearing to Federal Reserve Vice Chair Randal Quarles, OCC Comptroller Joseph Otting, FDIC Chair Jelena McWilliams, and NCUA Chair Rodney Hood, requesting that the regulators be prepared to answer how their agencies are responding to the emerging threat of leveraged lending. Despite growing con… Continue Reading
May 10, 2019
Brown Condemns Trump Administration's Proposed Anti-Family Housing Rule
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - condemns the Department of Housing and Urban Development’s (HUD) proposed rule that would result in the loss of housing for tens of thousands of eligible people, including American children. The proposal would do away with regulations that preserve families by permitting members with mixed immigration status to live together, provided that ineligible mem… Continue Reading
May 9, 2019
Brown: Any Conversation About GSE Reform Must Be Inclusive of All Communities
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 a speech at the National Association of Real Estate Brokers (NAREB) Spring Policy Conference. NAREB is the historically African-American realtors association founded in 1947 to promote equal opportunity in housing. Sen. Brown highlighted the critical importance of an equitable housing finance system that is inclusive of all Americans. Sen. Br… Continue Reading
May 7, 2019
Brown Opening Statement at Hearing On Privacy Rights and Data Collection
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 “Privacy Rights and Data Collection in a Digital Economy”. Sen. Brown’s remarks, as prepared for delivery, follow: I’m excited to be working in a bipartisan way with Chairman Crapo on protecting Americans’ sensitive personal data - an issue everyone agrees is important.As we start to… Continue Reading
May 3, 2019
Brown Condemns CFPB'S Plan To Help Lenders Hide Mortgage Data
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 opposing the Consumer Financial Protection Bureau’s (CFPB) proposed rule allowing lenders to no longer report any data under the Home Mortgage Disclosure Act (HMDA) about the mortgage loans they make. HMDA data is a primary tool to measure trends and disparities in mortgage credit access. Rural and urban areas and communities of color are most likel… Continue Reading
May 2, 2019
Brown: Trump Must Choose FED Nominee Who Will Put Working People First
U.S. Senator Sherrod Brown (D-Ohio) - Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - is calling on President Trump to nominate qualified, independent candidates to serve on the Federal Reserve Board of Governors who will put the needs of working people first. Brown commented today following news that Stephen Moore had withdrawn from consideration. Brown led opposition to Moore and Herman Cain in the Senate. Moore is the second potential Fed nominee to… Continue Reading
April 30, 2019
Brown Opening Statement at Hearing on Banking Guidance and Supervision
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 “Guidance, Supervisory Expectations, and the Rule of Law: How do the Banking Agencies Regulate and Supervise Institutions”. Sen. Brown’s remarks, as prepared for delivery, follow: This is a hearing to talk about guidance - the non-binding advice from federal agencies that’s supposed … Continue Reading
April 29, 2019
Senators Demand CFPB Maintain Home Mortgage Disclosure Database
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 eight Senators are demanding that CFPB Director Kathy Kraninger reverse her decision to remove Home Mortgage Disclosure Act (HMDA) Explorer and the Public Data Platform Application Programming Interface (API) from the CFPB website. HMDA data is a primary tool to measure trends and disparities in mortgage credit access, and CFPB’s HMDA Explorer and API… Continue Reading
April 24, 2019
Brown Demands Retraction After Video Serfaces of Likely FED Nominee Disparaging Ohio & Midwest
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 an apology and public retraction from expected FED nominee Stephen Moore after video surfaced of Moore referring to Cincinnati, Cleveland and other cities across the Midwest as the “armpits of America” (WATCH 46:00). Brown said Moore’s disdain for millions of Americans who live and work across the Midwest, along with his history of support… Continue Reading
April 23, 2019
Brown: Full FDIC Board Must Consider Impact of BB&T and SunTrust Merger
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 calling on FDIC Chair Jelena McWilliams to ensure that the full FDIC Board considers the proposed merger of BB&T and SunTrust thoroughly, with the utmost transparency and accountability. The proposed merger would be the largest since the financial crisis, potentially signaling the beginning of a surge in consolidation and would create the largest entity … Continue Reading
April 15, 2019
Brown Announces More Than $6,000,000 In Affordable Housing Funds For Ohio
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 - announced that Ohio will receive $6,190,138 from the U.S. Department of Housing and Urban Development (HUD) to create and preserve affordable housing. The funds were awarded through the national Housing Trust Fund, which aims to create and preserve safe affordable housing for low-income households and families experiencing homelessness.“Stable hou… Continue Reading
