Majority Press Releases
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
April 11, 2019
Brown: Mnuchin Must Take Action To Address Emerging Threats To The Economy
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 the Financial Stability Oversight Council (FSOC) to take decisive action to address heightened risk in the leveraged loan market. Despite growing concern from analysts and international regulators, FSOC members have weakened guidance that would protect Americans and their communities from a future downturn. “FSOC must consider whether this … Continue Reading
April 10, 2019
Brown Calls on Chairman Crapo to Hold Hearing on Megabank Misconduct and Enforcement Actions
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 Chairman Crapo to hold a hearing on megabank misconduct following the release of “Misconduct By The Numbers” snapshots of the largest consumer facing domestic megabanks. The snapshots demonstrate that large Wall Street banks are too big to manage and are consistently violating multiple laws. “A decade after the financial crisis, Wall Stre… Continue Reading
April 5, 2019
Following Demands By Brown, FHFA Authorizes Funds for Housing Trust Fund and Capital Magnet Fund
Washington, D.C. - U.S. Senator Sherrod Brown - ranking member of the Senate Committee on Banking, Housing and Urban Affairs - released the following statement on FHFA’s decision to authorize payments to the Housing Trust Fund and the Capital Magnet Trust Fund. Last week, during hearings on Chairman Crapo’s Housing Finance Reform Outline, Sen. Brown questioned why FHFA inexplicably delayed the release of these critical affordable housing funds.“There is an affordable housing crisis in Ame… Continue Reading
April 4, 2019
Brown, Wyden Demand Answers From Stephen Moore on Unpaid Taxes
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. Ron Wyden (D-OR), Ranking Member of the U.S. Senate Committee on Finance, are seeking additional information from Stephen Moore, a possible nominee to the Federal Reserve Board of Governors, on his unpaid federal taxes, interest and penalties. Following President Trump’s indication that he would nominate Moore to the Board of Governors of the Fede… Continue Reading
