Majority Press Releases

April 9, 2024

Brown to Adeyemo: We Must Crack Down on Illicit Finance to Protect Our National Security

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled, “An Update from the Treasury Department: Countering Illicit Finance, Terrorism and Sanctions Evasion.” Sen. Brown’s remarks, as prepared for delivery follow: We face threats to American national security and global stability every day. Autocrats and terrorists and drug traffickers work to un… Continue Reading


March 25, 2024

Brown Has Introduced Bills to Create and Preserve Affordable Housing

WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, has introduced a set of bills to lower housing costs for Americans by creating and preserving affordable housing. The Housing Supply Fund Act and the Affordable Housing Preservation and Protection Act will help to expand and preserve the supply of affordable housing, creating more options for renters and homeowners. “All over Ohio, I hear from renters and homeowners who… Continue Reading


March 21, 2024

Brown, Colleagues Urge CFPB to Remove Medical Debt From Credit Reports, Ease Burden on Consumers

WASHINGTON, D.C. - Today, U.S. Senators Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, Jack Reed (D-RI), Elizabeth Warren (D-MA), Tina Smith (D-MN), Raphael Warnock (D-GA), John Fetterman (D-PA), Laphonza Butler (D-CA), Jeff Merkley (D-OR), Chris Murphy (D-CT), and Ben Ray Luján (D-NM) are urging the Consumer Financial Protection Bureau to protect Americans from predatory medical debt collection practices. Last year the CFPB announced several potentia… Continue Reading


March 12, 2024

Brown Introduces Yes In God’s Back Yard Act to Support Churches & Other Organizations Developing Affordable Housing

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, introduced the Yes In God’s Back Yard (YIGBY) Act, legislation to support faith-based organizations and colleges wanting to build and preserve affordable housing on their land and reduce barriers to the development of this housing. “Housing is too expensive and too hard to find in almost every community in America,” said Brown. “This is a common sense solution - … Continue Reading


March 12, 2024

Brown: We Need Solutions that Lower Housing Costs and Expand Options for Families

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled, “Examining Proposals to Address Housing Affordability, Availability, and Other Community Needs.” Sen. Brown’s remarks, as prepared for delivery follow: In every part of the country, everywhere you turn, housing is too expensive and families have too few housing options. High interest rates a… Continue Reading


March 11, 2024

Brown Thanks Secretary Fudge for Her Leadership

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after Secretary of the Department of Housing and Urban Development (HUD) Marcia Fudge announced her departure. “As a proud daughter of Ohio, and my Congresswoman for twelve years, Marcia Fudge served Ohioans and families all around the country for decades. She understood that housing is at the center of people’s lives, and she led H… Continue Reading


March 7, 2024

Brown Advances Treasury Nominee Borzekowski

WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, held an executive session to vote on the nomination of Dr. Ron Borzekowski, of Maryland, to be Director, Office of Financial Research, Department of the Treasury.  Dr. Borzekowski’s nomination was advanced by a vote of 12-11. ###… Continue Reading


March 7, 2024

Brown to Powell: High Interest Rates Keep Housing Costs High, Do Nothing to Stop Corporate Price Gouging

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled, “The Semiannual Monetary Policy Report to the Congress.” Sen. Brown’s remarks, as prepared for delivery follow: The Fed has immense power in shaping our economy. Your job is clear: promote stable prices and maximum employment. Today, the cost of living is still far too expensive for most Ame… Continue Reading


March 6, 2024

Brown Statement on Final Sec Climate Disclosure Rules

WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Securities and Exchange Commission (SEC) finalized new climate disclosure rules. The new disclosure requirements require public companies to disclose material climate-related risks to investors, including the first SEC requirements to disclose material greenhouse gas emissions. “Climate risk, like any other financial risk, is a threa… Continue Reading


February 29, 2024

Brown Introduces Bill to Crack Down On Corporations Shrinking Products Without Lowering Prices

WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH) introduced the Shrinkflation Prevention Act to crack down on corporations that raise costs on Americans by reducing the size of their products without also lowering prices. “Americans are forced to pay for corporate stock buybacks and executive bonuses every time they go to the grocery store. And corporations are always finding new ways to charge people more to increase their profits, like shrinking their product without shrinking their price… Continue Reading


February 29, 2024

Brown Statement on the Administration’s Actions to Lower Housing Costs, Expand Housing options, and Protect Renters

WASHINGTON, D.C. - Today, U.S. Senator Brown (D-OH), Chair of the Senate Banking, Housing, and Urban Affairs Committee, issued the following statement on the administration’s new actions to lower cost and boost the supply of affordable housing. “At a time when housing is unaffordable for too many families, these actions will help to bring down housing costs and expand housing options, including through a program I urged the Administration to continue to provide low-cost financing for new afford… Continue Reading


February 23, 2024

Brown Statement on Sanctions Against Russia

WASHINGTON, DC - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, released the following statement regarding sanctions against Russia, following Alexei Navalny’s death in Russian custody and the second anniversary of Vladimir Putin’s invasion of Ukraine. “As we approach the second anniversary of Putin’s brutal, criminal war, we cannot waiver in our commitment to our democratic ally, Ukraine. Putin believes he can murder opponents … Continue Reading


February 20, 2024

Brown to Federal Reserve: Prohibitions on Stock Trading Need Teeth

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, urged Federal Reserve Chair Jerome Powell to strengthen enforcement penalties under the Fed’s Investment and Trading Policy. In a letter to Chair Powell, Brown cites a Fed report that said that in March 2020, just before the Board met to consider monetary policy and emergency lending programs in response to the COVID-19 crisis, two former Federal Reserve Bank Pres… Continue Reading


February 20, 2024

Brown Statement on Capital One-Discover Merger

WASHINGTON, D.C. - Today, U.S. Senator Brown (D-OH), Chair of the Senate Banking, Housing, and Urban Affairs Committee, issued the following statement regarding this week’s announcement that Capital One will buy Discover Financial. “With a merger this size, the regulators need to ensure our financial system remains strong and competitive, so that consumers continue to have access to safe, affordable financial products and services. A rubber-stamped merger that makes powerful financial companies… Continue Reading


February 15, 2024

Brown, Colleagues Press Zelle to Clarify Policies to Protect Customers from Fraud and Scams

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Senators Jack Reed (D-RI) and Elizabeth Warren (D-MA), members of the Banking, Housing, and Urban Affairs Committee, are pressing Zelle CEO Cameron Fowler to clarify policies protecting consumers from scams and fraud on the instant payment platform. In a letter to Fowler, the Senators ask that Zelle publicly clarify their reimbursement policy for impost… Continue Reading


February 8, 2024

Brown to Yellen: FSOC Must Be There to Protect Our Economy When Wall Street Tries to Duck Regulators

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled, “Financial Stability Oversight Council Annual Report to Congress.” Sen. Brown’s remarks, as prepared for delivery follow: For a long time, it’s been pretty clear what gets rewarded on Wall Street. Bigger risks mean bigger profits. Bigger profits mean more stock options. Bigger profits mean f… Continue Reading


February 6, 2024

Brown, Colleagues Press President to Boost Funding for Export Controls, National Security

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Senators Jack Reed (D-RI), Bob Menendez (D-NJ), and Mark Warner (D-VA) urged President Joe Biden to increase funding for export control administration and enforcement. In a letter to the President, the Senators emphasized the Bureau of Industry and Security’s (BIS) importance to national security policy, citing comments from key administration officials… Continue Reading


February 5, 2024

Brown Statement on Bipartisan National Security Deal

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH) released the following statement on the bipartisan border bill released by Senate negotiators. The legislation includes Brown’s bipartisan Fentanyl Eradication and Narcotics Deterrence (FEND) Off Fentanyl Act, which would impose new sanctions and anti-money laundering penalties targeting the illicit fentanyl supply chain, from the chemical suppliers in China to the cartels that transport the drugs in from Mexico. “We need to come toget… Continue Reading


February 1, 2024

Brown: Scammers Have Ramped Up Efforts While Banks and Payment Apps Stand By

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled, “Examining Scams and Fraud in the Banking System and Their Impact on Consumers.” Sen. Brown’s remarks, as prepared for delivery follow: When consumers send money through an app or send a check in the mail, they are supposed to be able to trust that financial companies are protecting their mon… Continue Reading


January 30, 2024

Brown to Fed: Cutting Rates Will Cut Housing Costs

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, urged Federal Reserve Chair Jerome Powell, ahead of the upcoming Federal Open Market Committee meeting, to lower interest rates early this year in order to lower housing costs and support workers and families who are feeling the burden of high prices. In a letter to Federal Reserve Chair Jerome Powell, Brown outlined how higher interest rates are burdening consume… Continue Reading

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