Majority Press Releases
JOHNSON HOLDS HEARING ON CONSUMER PROTECTIONS
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Assessing and Enhancing Protections in Consumer Financial Services." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Six years ago this week, the collapse of Lehman Brothers sparked a financial panic more severe than most of us have seen in our lifetimes. The crisis exposed many failures in the financial system, including a failure to adequately p… Continue Reading
September 16, 2014
JOHNSON HOLDS HEARING ON SMALL DEPOSITORY INSTITUTIONS
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Examining the State of Small Depository Institutions." Below is Chairman Johnson's statement as prepared for delivery: "Good Morning. I call this hearing to order. "Today, we have two thoughtful panels that will help us explore the current state of our nation's small depository institutions. "For many years, it has been a priority of mine to support efforts that tailor supervision and … Continue Reading
September 9, 2014
JOHNSON HOLDS WALL STREET REFORM HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Wall Street Reform: Assessing and Enhancing the Financial Regulatory System." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Today I welcome back the financial regulators for another one of our many Wall Street Reform oversight hearings in this Committee since the enactment of the law. You all have been busy over August as you continued to make p… Continue Reading
September 8, 2014
CBO SCORES BIPARTISAN HOUSING FINANCE REFORM LEGISLATION
Washington, DC - Last week, the Congressional Budget Office (CBO) released a score for S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2013, which estimates a cost savings to the government of $60 billion over a ten-year period. This legislation, drafted by Chairman Johnson and Ranking Member Crapo to stabilize the housing finance market and strengthen the economy, passed the Senate Banking Committee in May. "After the housing crisis we experienced, it is clear that our ho… Continue Reading
July 31, 2014
JOHNSON ON INTRODUCTION OF EX-IM REATHORIZATION
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) today released the following statement on the introduction of the Export-Import Bank Reauthorization. Yesterday evening, Chairman Johnson along with Senators Joe Manchin (D-WV), Mark Kirk (R-IL), Roy Blunt (R-MO), Joe Donnelly (D-IN), Mark Warner (D-VA), Maria Cantwell (D-WA), and Tim Kaine (D-VA) introduced a 5-year reauthorization of the Bank. "As Chairman of the Banking Committee, I am proud to have come together with a bip… Continue Reading
July 31, 2014
JOHNSON HOLDS HEARING ON FINANCIAL PRODUCTS FOR STUDENTS
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Financial Products for Students: Issues and Challenges." Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "Financial institutions play a role in higher education in many ways, from private student loans to student loan servicing, debt collection, and campus banking. Student loan debt is currently $1.2 trillion and continues to be … Continue Reading
July 17, 2014
BANKING COMMITTEE LEADERS LAUD SENATE TRIA PASSAGE
Washington, DC - Today, the United States Senate approved S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014 (TRIA), by a strong bipartisan vote of 93-4. This bill extends the existing TRIA program for seven years while taking steps to further protect taxpayers. "I am pleased that my colleagues on both sides of the aisle in the Senate came together today to pass this critical, bipartisan reauthorization, which passed out of the Banking Committee unanimously," said Sena… Continue Reading
July 15, 2014
JOHNSON STATEMENT AT MONETARY POLICY HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the Federal Reserve's Semiannual Monetary Policy Report to Congress. Below is Chairman Johnson's statement as prepared for delivery: "This morning we welcome Chair Yellen back to the Committee for testimony on the Federal Reserve's Semiannual Monetary Policy Report to the Congress. Since Chair Yellen was last before the Committee, Stanley Fischer, Lael Brainard and Jerome Powell were confirmed by t… Continue Reading
July 9, 2014
JOHNSON HOLDS EQUITY MARKET STRUCTURE HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "The Role of Regulation in Shaping Equity Market Structure and Electronic Trading." Below is Chairman Johnson's statement as prepared for delivery: "Good morning. Today the Committee will examine equity market structure. It is a complicated topic, and a whole new vocabulary is needed to understand market structure and electronic trading. Words like: dark pool, high-frequency trading, and data f… Continue Reading
June 25, 2014
JOHNSON HOLDS HEARING ON FINANCIAL STABILITY REPORT
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "The Financial Stability Oversight Council Annual Report to Congress." Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "Today we welcome Secretary of the Treasury Jack Lew back to the Committee for his testimony on the 2014 Financial Stability Oversight Council Annual Report to Congress. FSOC has played a critical role in coordina… Continue Reading
June 19, 2014
JOHNSON CONGRATULATES NEWLY CONFIRMED NCUA BOARD MEMBER
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on the Senate confirmation of Mr. Mark McWatters to serve as a Member of the National Credit Union Administration (NCUA) Board. "I congratulate Mark on being confirmed by the U.S. Senate. His legal background and experience in the financial services industry will serve him well on the NCUA board, and I look forward to working with him. I would also like to thank outgoing Board Member Michael Fr… Continue Reading
June 19, 2014
JOHNSON CONGRATULATES GUSTAVO VELASQUEZ AGUILAR
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on the Senate confirmation of Mr. Gustavo Velasquez Aguilar to be the Assistant Secretary for Fair Housing and Equal Opportunity at the U.S. Department of Housing and Urban Development (HUD). "Mr. Velasquez is a well-qualified nominee to serve at the helm of HUD's Office of Fair Housing and Equal Opportunity, and I congratulate him on being confirmed. His direct experience in leading a fair hou… Continue Reading
June 17, 2014
JOHNSON HOLDS CONFIRMATION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a confirmation hearing for Mayor Julián Castro, to be Secretary of the Department of Housing and Urban Development, and Ms. Laura Wertheimer, to be Inspector General of the Federal Housing Finance Agency. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Today we consider the nominations of Mayor Julián Castro, to be Secretary of the Department of … Continue Reading
June 12, 2014
JOHNSON CONGRATULATES FISCHER, POWELL AND BRAINARD
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on the Senate confirmation of Dr. Stanley Fischer, Vice Chairman of the Federal Reserve; and the Honorable Jerome H. Powell and the Honorable Lael Brainard, Members of the Federal Reserve. "I would like to congratulate Stan Fischer, Jerome Powell, and Lael Brainard on being confirmed. Each of these individuals has a unique set of skills and experience to provide the Board of Governors a diverse… Continue Reading
June 10, 2014
JOHNSON ON CFPB’S SEMI-ANNUAL REPORT TO CONGRESS
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Director Cordray, welcome back to the committee. Today, we continue our regular oversight of the CFPB. In the three years since the CFPB opened its doors, it has had a noticeable impact on nearly every aspect of the cons… Continue Reading
June 4, 2014
JOHNSON STATEMENT ON CFTC CONFIRMATIONS
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the below statement on the Senate voting to confirm three U.S. Commodity Futures Trading Commission (CFTC) members: Chairman Timothy Massad, Commissioner J. Christopher Giancarlo and Commissioner Sharon Bowen. "I would like to congratulate Tim Massad, Sharon Bowen and Chris Giancarlo on being confirmed today by the Senate to serve on the Commodity Futures Trading Commission, and I am glad the CFTC once again has a ful… Continue Reading
June 3, 2014
SENATE BANKING COMMITTEE PASSES TRIA REAUTHORIZATION
Washington, DC - Today, the Senate Banking Committee approved S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, by a unanimous vote of 22-0. This bill extends the existing TRIA program for seven years while taking steps to further protect taxpayers. "I am pleased today that the Banking Committee unanimously supported this important bipartisan bill," said Johnson. "This seven year extension of TRIA will continue to help promote economic growth and provide certainty fo… Continue Reading
June 3, 2014
CHAIRMAN JOHNSON STATEMENT AT THE TRIA MARKUP
Washington, DC - Today, Chairman Tim Johnson (D-SD) held a markup on S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014. This bill extends the current TRIA program for seven years while taking steps to further protect taxpayers. Below is Chairman Johnson's Statement as Prepared for Delivery. "I call the Committee to order and move to executive session. "We will now consider S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, offered by Se… Continue Reading
May 15, 2014
SENATE BANKING COMMITTEE PASSES BIPARTISAN HOUSING FINANCE REFORM LEGISLATION
Washington, DC - Today, the Senate Banking Committee approved S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2013, by a bipartisan vote of 13-9. The legislation included a bipartisan agreement drafted by Chairman Johnson and Ranking Member Crapo and is designed to stabilize the housing finance market and strengthen the American economy. It will create greater competition in the housing finance system and reduce risk to the taxpayer while ensuring affordable, fair access to al… Continue Reading
May 15, 2014
JOHNSON STATEMENT AT THE HOUSING FINANCE REFORM MARKUP
Washington, DC - Today, Chairman Tim Johnson (D-SD) resumed consideration of S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2013. The legislation being marked up included a bipartisan agreement drafted by Chairman Johnson and Ranking Member Crapo and is designed to stabilize the housing finance market and strengthen the American economy. It will create greater competition in the housing finance system and reduce risk to the taxpayer while ensuring affordable, fair access to a… Continue Reading
