Majority Press Releases
JOHNSON STATEMENT ON FHFA OVERSIGHT HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held an oversight hearing on the Federal Housing Finance Agency. Below is Chairman Johnson's statement as prepared for delivery: "I would like to thank Mr. DeMarco for being here today. As I mentioned at our hearing on November 3, we have been planning to hold an FHFA oversight hearing, and I am pleased it was able to come together so quickly. "As Ranking Member Shelby, and others, so accurately noted during … Continue Reading
November 14, 2011
JOHNSON TO HOLD HEARING ON SPURRING JOB GROWTH THROUGH CAPITAL FORMATION
WASHINGTON - Today, Banking Committee Chairman Tim Johnson (D-SD) announced he will hold a full committee hearing on capital formation proposals to create jobs. The committee will review a number of outstanding proposals and explore additional avenues to help small businesses. "There are a number of bipartisan proposals introduced to ensure small businesses have adequate access to capital. On December 1st, I will hold a hearing in the Banking Committee where we will take a closer look at p… Continue Reading
November 10, 2011
JOHNSON CHAIRS HEARING ON JOB CREATION IN NATIVE COMMUNITIES
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing today to discuss the opportunities and challenges faced by Native American communities around the country. The Committee discussed obstacles holding back job creation such as lack of access to capital, as well as work being done to address the problem. While progress has been made, many Native communities continue to face significant challenges, including staggering unemployment rates, inadequate health care, h… Continue Reading
November 9, 2011
JOHNSON CONTINUES STRONG OVERSIGHT OF FINANCIAL REFORM
WASHINGTON - The recent financial crisis devastated our economy: millions of Americans lost their jobs, their homes, or their savings. As a response to the worst financial crisis since the Great Depression, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act to address regulatory gaps and establish vital new safeguards for consumers, investors, and taxpayers. As Chairman of the Senate Banking Committee, Senator Tim Johnson (D-SD) is committed to ensuring the oversi… Continue Reading
November 3, 2011
JOHNSON STATEMENT ON CONSUMER FINANCIAL PROTECTIONS FOR SERVICEMEMBERS AND VETERANS
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on consumer financial protections for servicemembers, veterans, and their families. The Banking Committee heard from witnesses including Holly Petraeus, head of the new Office of Servicemember Affairs at the Consumer Financial Protection Bureau, and discussed financial challenges facing these consumers, the importance of financial education, and the enforcement of existing consumer protection laws. Below … Continue Reading
November 3, 2011
JOHNSON TO HOLD FHFA OVERSIGHT HEARING
WASHINGTON -This morning at a Senate Banking Committee hearing, Chairman Tim Johnson (D-SD) announced his intention to hold an oversight hearing on the Federal Housing Finance Agency (FHFA) where the recently announced bonuses for executives at Fannie Mae and Freddie Mac will be explored. Below are Chairman Johnson's remarks as prepared for delivery. "Earlier this week, it was reported that 10 executives at Fannie Mae and Freddie Mac were scheduled to receive bonuses totaling more than $… Continue Reading
November 2, 2011
JOHNSON TO HIGHLIGHT FINANCIAL PROTECTIONS FOR SERVICEMEMBERS AND VETERANS
WASHINGTON - With Veterans Day approaching and in recognition of November being Military Family Month, Senate Banking Committee Chairman Tim Johnson (D-SD) will hold a hearing tomorrow to explore consumer financial protection for servicemembers, veterans, and their families. At 10:00 A.M. in Dirksen 538 the Banking Committee will hear from witnesses including Holly Petraeus, head of the new Office of Servicemember Affairs at the Consumer Financial Protection Bureau. The Committee will discuss fi… Continue Reading
October 27, 2011
SENATORS URGE INNOVATIVE REO REHAB-TO-RENT STRATEGY TO HELP STABILIZE HOUSING
WASHINGTON, DC - In an effort to boost the economy, create jobs, and stabilize neighborhoods, 33 U.S. Senators are asking the Obama Administration and the Federal Housing Finance Agency (FHFA) to swiftly develop an efficient and effective real estate owned (REO) management strategy to make better use of vacant foreclosed homes. Led by Senators Jack Reed (D-RI), Tim Johnson (D-SD), and Bob Menendez (D-NJ), the senators today wrote a letter to the U.S. Department of the Treasury, the U.S. Dep… Continue Reading
October 26, 2011
JOHNSON COMMENTS ON CFPB'S NEW FINANCIAL AID SHOPPING SHEET
WASHINGTON -Today, Senator Tim Johnson (D-SD), Chairman of the Senate Banking Committee, released the following statement on the Consumer Financial Protection Bureau's "financial aid shopping sheet." This afternoon, Raj Date, Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau, unveiled details of the CFPB's new financial aid shopping sheet at the University of Minnesota. "The CFPB's Financial Aid Shopping Sheet is a perfect example of what this ne… Continue Reading
October 24, 2011
JOHNSON COMMENTS ON FHFA'S CHANGES TO ITS MORTGAGE REFINANCING PROGRAM
WASHINGTON -Today, Senator Tim Johnson (D-SD), Chairman of the Senate Banking, Housing and Urban Affairs Committee, welcomed the announcement by the Federal Housing Finance Agency that it was working with Fannie Mae and Freddie Mac to implement changes to the Home Affordable Refinance Program (HARP) in an effort to help some borrowers benefit from refinancing their home mortgage. "The Federal Housing Finance Agency's mortgage refinancing plan is an important and overdue step in the right dir… Continue Reading
October 13, 2011
JOHNSON OPENING STATEMENT ON IRAN SANCTIONS OVERSIGHT HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing entitled "Addressing Potential Threats from Iran: Administration Perspectives on Implementing New Economic Sanctions One Year Later." Below is Chairman Johnson's statement as prepared for delivery: "Good morning, I call this hearing to order, and I welcome my colleagues and our witnesses. "In the wake of the alarming announcement this week of an Iranian-government supported plot to assassinate th… Continue Reading
October 6, 2011
JOHNSON STATEMENT ON COMMITTEE APPROVAL OF RICHARD CORDRAY’S NOMINATION TO LEAD THE CFPB
Committee also sends nominations for the Council of Economic Advisers, HUD, and the Export Import Bank to the full Senate WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement following the successful Committee vote on the nomination of Richard Cordray to be the first ever Director of the Consumer Financial Protection Bureau. The Committee voted to send Mr. Cordray's nomination to the full Senate with a straight party line vote 12-10. "Today's Banking Commit… Continue Reading
September 22, 2011
JOHNSON STATEMENT ON NOMINATION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the nominations of Alan Krueger to be Chairman of the Council of Economic Advisers, David Montoya to be HUD Inspector General, and Cyrus Amir-Mokri to be Assistant Secretary of the Treasury. Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "Thanks to all of our nominees for joining us here today. I also extend a warm welcome to our … Continue Reading
September 13, 2011
JOHNSON OPENING STATEMENT ON HOUSING FINANCE REFORM HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to discuss housing finance focusing on the role of a government guarantee, as well as the benefits and risks to taxpayers. This is the tenth in a series of hearings the Committee has been holding related to housing finance reform. Below is Chairman Johnson's statement as prepared for delivery: "I would like to thank our witnesses for joining us today. This will be the tenth housing finance reform hear… Continue Reading
September 9, 2011
CHAIRMAN JOHNSON LAUDS PRESIDENT OBAMA'S CALL FOR TRANSIT FUNDING
WASHINGTON - Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Johnson (D-SD) applauded President Obama's call tonight for Congress to pass important transportation funding. The current surface transportation bill is set to expire at the end of the month and if Congress does not act 1.8 million jobs will be threatened. The Senate Banking, Housing, and Urban Affairs Committee is responsible for oversight of our nation's public transportation systems. Below is Chairman Johnson's … Continue Reading
September 8, 2011
BANKING COMMITTEE PASSES EXPORT-IMPORT BANK REAUTHORIZATION
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a markup of the Export-Import Bank Reauthorization Act of 2011. The Export-Import Bank is the official export credit agency of the United States and it assists in financing the export of U.S. goods and services to international markets. The Committee approved the bill with bipartisan support by unanimous voice vote. Below is Senator Johnson's statement following the markup. "The Ex-Im Bank is a proven jobs cr… Continue Reading
September 8, 2011
BANKING COMMITTEE APPROVES NOMINEES FOR FDIC, SEC, OCC, FSOC, SIPC
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a Committee markup of the nominations of Mr. Anthony Frank D'Agostino and Mr. Gregory Karawan to be Directors of the Securities Investor Protection Corporation; the Honorable Luis Aguilar and Mr. Daniel Gallagher to be Members of the Securities and Exchange Commission; Mr. S. Roy Woodall, Jr. to be a Member of the Financial Stability Oversight Council; the Honorable Martin Gruenberg to be a Member and Chairperson of th… Continue Reading
September 8, 2011
BANKING COMMITTEE PASSES FLOOD INSURANCE REAUTHORIZATION
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a markup of the Flood Insurance Reform and Modernization Act of 2011 which reauthorizes the National Flood Insurance Program (NFIP) for five years and makes critical improvements to the long term stability of the program. The Committee approved the bill with bipartisan support by unanimous voice vote and it will now be sent to the floor for consideration by the full Senate. Below is Senator Johnson's statement follo… Continue Reading
September 6, 2011
JOHNSON HOLDS CONFIRMATION HEARING FOR RICHARD CORDRAY
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to consider the nomination of Richard Cordray to be the first Director of the Consumer Financial Protection Bureau. Below is Chairman Johnson's statement as prepared for delivery: "On our next panel, we will consider the nomination of Richard Cordray to be the first Director of the Consumer Financial Protection Bureau. "Mr. Cordray, welcome to the Senate Banking Committee and a warm welcome to y… Continue Reading
September 6, 2011
ACCOUNTABILITY AT THE CONSUMER FINANCIAL PROTECTION BUREAU
TO: Interested Parties FROM: Sean Oblack, Senate Banking Committee Communications Director DATE: September 6, 2011 RE: Accountability at the Consumer Financial Protection Bureau __________________________________________________________________________________ Even before the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, opponents of consumer protection have been fighting the creation of the Consumer Financial Protection Bureau (CFPB). One of the latest … Continue Reading
