Majority Press Releases
Brown Floor Speech on the Consumer Financial Protection Bureau
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 speech on the Senate floor today on the Consumer Financial Protection Bureau (CFPB) under OMB Director Mick Mulvaney's leadership. Brown's remarks, as prepared for delivery, follow. Mr. President, This month, the toy company Hasbro announced it's introducing a new version of the board game Monopoly -in this version, players get reward… Continue Reading
February 16, 2018
Brown Leads Letter Demanding Answers On CFPB Plan To Strip Office Of Fair Lending
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 - along with 53 members of congress, demanded answers on reports that the Consumer Financial Protection Bureau (CFPB) intends to re-organize the Office of Fair Lending and Equal Opportunity and strip the Office of its enforcement and supervisory role. Yesterday, the Center for Investigative Reporting released a study of 61 U.S. cities demonstrating that … Continue Reading
February 13, 2018
Brown:President's Budget Defunds Consumer Bureau
Proposed Budget Elimination of the Consumer Financial Protection Bureau 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 in response to the Trump Administration's proposed budget cuts for the Consumer Financial Protection Bureau (CFPB) for Fiscal Year 2019. The President's budget claims a $6.4 billion savings from "restructuring" the CFPB - but Republicans save that money by… Continue Reading
February 12, 2018
Brown Says Consumer Bureau Must Protect Working People, Not Banks And Payday Lenders
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 in response to reports that the Consumer Financial Protection Bureau (CFPB), under orders from OMB Director Mick Mulvaney, has decided to revise the mission and vision of the bureau by further deterring the agency from pursuing its mission of protecting consumers. "Banks and payday lenders have enough lobbyists working on their… Continue Reading
February 6, 2018
Brown Opening Statement At Banking Committee Hearing On Virtual Currencies
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 opening statement at today's hearing on "Virtual Currencies: The Oversight Role of the SEC and CFTC." Sen. Brown's remarks, as prepared for delivery, follow: Thank you Chairman Crapo, and welcome to Chair Clayton and Chair Giancarlo. Virtual currencies, and Bitcoin specifically, have captured the attention of investors, speculators, c… Continue Reading
February 5, 2018
Brown Says Mulvaney Refusal To Investigate Equifax Breach Is Malpractice
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 in response to reports that the Consumer Financial Protection Bureau (CFPB), under orders from OMB Director Mick Mulvaney, has decided to end the investigation into the Equifax data breach, which put the personal information of 145 million consumers at risk. "Refusing to investigate a data breach that put 145 million Americans… Continue Reading
January 31, 2018
Brown, Cardin Lead 20 Democrats in Letter to Tillerson: Lack of Trump Administration’s Mandatory Russia Sanctions Impositions is Unacceptable
WASHINGTON - U.S. Senators Ben Cardin (D-Md.), Ranking Member of the Senate Foreign Relations Committee, and Sherrod Brown (D-Ohio), Ranking Member of the Senate Banking Committee, led twenty of their Democratic Senate colleagues Tuesday in a letter to Secretary of State Rex Tillerson, expressing their concern that six months after Congress overwhelmingly passed mandatory sanctions measures to hold Russia accountable for their destabilizing activities against our country and nations around the w… Continue Reading
January 31, 2018
Brown Applauds Courts Decision To Uphold CFPB's Independence
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 U.S. Court of Appeals for the District of Columbia Circuit decision to uphold a provision in the Dodd-Frank law that states the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional and that its director can only be fired by the president for cause. "Today the DC Circuit affirmed that CFPB… Continue Reading
January 30, 2018
Brown Opening Statement At Banking Committee Hearing On The Financial Stability Oversight Council
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 opening statement at today's hearing on "The Financial Stability Oversight Council (FSOC) Annual Report to Congress." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, and thank you Secretary Mnuchin for appearing before the Committee today. I look forward to your testimony on the threats to financial … Continue Reading
January 25, 2018
Brown Opening Statement At Banking Committee Hearing On CFIUS, Part II
BROWN OPENING STATEMENT AT BANKING COMMITTEE HEARING ON CFIUS, Part II 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 opening statement at today's hearing on "CFIUS Reform: Administration Perspectives On the Essential Elements." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. And thanks to our witnesses for joining us today to share the views of … Continue Reading
January 23, 2018
Brown Opening Statement At Banking Committee Hearing On Nominations To The Federal Reserve, FDIC and FSOC
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 opening statement at today's hearing on nominations to the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Financial Stability Oversight Council (FSOC). Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for convening this hearing. Thank you to the three nominees for your willingn… Continue Reading
January 18, 2018
Brown Statement on CFPB Decision to Reconsider Payday Lending 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 - released the following statement opposing the Consumer Financial Protection Bureau's (CFPB) decision to delay and reconsider the payday lending rule that protects consumers from predatory payday lenders: "Rather than focus on keeping the government open, the Trump administration's top budget expert is busy unraveling important consumer protections for payday b… Continue Reading
January 18, 2018
Brown Opening Statement at Banking Committee Hearing on CFIUS
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 opening statement at today's hearing on "CFIUS Reform: Examining the Essential Elements." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. And thanks to our witnesses for joining us today to share their insights on this important topic. I commend Senators Cornyn and Feinstein for their work on th… Continue Reading
January 16, 2018
Brown Opening Statement at Banking Committee Hearing on HUD Nominations
Opening Statement of Ranking Member Sherrod Brown Executive Session of the Committee on Banking, Housing, and Urban Affairs HUD Nominations The Committee will vote today on three of President Trump's nominees to serve in the U.S. Department of Housing and Urban Development. I want to congratulate each of the nominees once again, and thank them for their willingness to serve our country. If confirmed, the nominees before us today would: oversee rental assistance for over 4.5 mill… Continue Reading
January 16, 2018
Brown Stands Up for Working Families During Consideration of Bill to Roll Back Wall Street Reform Law
BROWN stands up for working families during Consideration of bill to roll back WALL STREET REFROM LAW Ranking Member Voted for over 30 Amendments to Improve S.2155 for Taxpayers, Homeowners, Consumers in Banking Committee Markup WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - supported over 30 amendments today during the Committee's consideration of S. 2155, the "Economic Growth, Regulatory Relief and C… Continue Reading
January 9, 2018
Brown Opening Statement At Banking Committee Hearing On Opportunities To Reform And Strengthen BSA Enforcement
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 opening statement at today's hearing on "Combating Money Laundering and Other Illicit Finance: Opportunities to Reform and Strengthen BSA Enforcement." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for this important hearing, the first of two this month in which the Committee will look at ideas f… Continue Reading
December 19, 2017
Brown Opening Statement at Banking Committee Executive Session On Export-Import Bank Nominations
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 opening statement at today's executive session on the nominations to the Export-Import Bank of the United States. Sen. Brown's remarks, as prepared for delivery, follow Mr. Chairman, thank you for scheduling today's votes. To put it plainly, we have lost American jobs because of the games that have been played with the Export-Import Ba… Continue Reading
December 12, 2017
Brown Leads Amicus Brief Supporting CFPB Independence Under Dodd-Frank Law
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), ranking member of the Senate Banking, Housing, and Urban Affairs Committee, along with 36 current and former Members of Congress including Sen. Chris Dodd and Rep. Barney Frank, filed an amicus brief in support of the Consumer Financial Protection Bureau (CFPB) Deputy Director Leandra English's motion to obtain a preliminary injunction in order to be reinstated as acting Director of the CFPB. "The Dodd-Frank law is clear that Deputy Director En… Continue Reading
December 12, 2017
Waters, Brown and Green Statement on GAO Report on Management Representation of Minorities and Women and Diversity Practices in the Financial Services Industry
Waters, Brown and Green Statement on GAO Report on Management Representation of Minorities and Women and Diversity Practices in the Financial Services Industry WASHINGTON, D.C. - Today, following the public release of a Government Accountability Office (GAO) report entitled "Financial Services Industry: Trends in Management Representation of Minorities and Women and Diversity Practices, 2007-2015," Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, … Continue Reading
December 5, 2017
BROWN OPENING STATEMENT AT BANKING COMMITTEE MARKUP OF S.2155
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 opening statement at today's executive session on S.2155, the "Economic Growth, Regulatory Relief and Consumer Protection Act." Brown's remarks, as prepared for delivery, follow Thank you, Mr. Chairman. Mr. Chairman, I was hopeful we could have reached an agreement on a bill to provide meaningful relief to consumers, small banks … Continue Reading
