Majority Press Releases

July 19, 2024

Brown Introduces Bill to Create Antitrust Review Process & Crack Down on Corporate Investors in The Housing Market

WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH), Chairman of the Banking, Housing, and Urban Affairs Committee, introduced legislation to increase competition in the housing market by requiring corporations and private equity firms that buy up large numbers of houses and apartments to report those transactions to antitrust enforcers. The Housing Acquisitions Review and Transparency (HART) Act would make it easier to stop anticompetitive transactions that could increase housing costs, decrea… Continue Reading


July 12, 2024

Bipartisan Brown-Braun Bill to Support Veteran Homebuyers Passes Senate

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, and Senator Mike Braun (R-IN), announced Senate passage of their legislation to help inform veteran homebuyers of their eligibility for the VA Home Loan Program, which helps more veterans achieve the dream of homeownership. “This is an important step toward making the dream of homeownership a reality for more military families and veterans. Ohioans who have served o… Continue Reading


July 11, 2024

Brown: These Nominees Will Play An Important Role In The Success and Stability of Our Financial System

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 nominations hearing for the Honorable Christy Goldsmith Romero, of Virginia, to be Chairperson and Member of the Board of Directors of the Federal Deposit Insurance Corporation; The Honorable Caroline A. Crenshaw, of the District of Columbia, to be a Member of the Securities and Exchange Commission; The Honorabl… Continue Reading


July 9, 2024

Brown to Powell: Keeping Rates Too High Threatens Workers’ Paychecks

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: Welcome Chair Powell. Ohioans know and Americans know that our economy fundamentally is not a fair playing field. Instead, we have a David and Goliath economy, where the largest c… Continue Reading


July 3, 2024

Brown Demands Transparency from Uber and Lyft on Surge Pricing

Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, called for transparency from Uber and Lyft on its use of surge pricing to set fares. In a letter to the CEOs of Uber and Lyft, Brown expressed concern that frequent and opaque price changes and diminishing competition are making ride-hailing services less affordable, and that pricing algorithms enable corporations to charge higher prices in circumstances where consumers have the gre… Continue Reading


July 1, 2024

Brown, Wyden, Baldwin, Fetterman Urge Synapse’s Owners and Partners to Immediately Make Customers’ Deposits Available

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 Ron Wyden (D-OR), Tammy Baldwin (D-WI), and John Fetterman (D-PA) are urging Synapse’s owners and bank and fintech partners to restore customers’ access to their money. Since mid-May, customers who entrusted their money to its fintech and bank partners have been unable to access their money. In a letter to Synapse’s partners and owners, Brown a… Continue Reading


June 17, 2024

Brown Pushes Bank Regulators to Protect Consumers and Communities When Reviewing Mergers

WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, urged the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) to ensure their updated bank merger policies will adequately scrutinize mergers’ effects on consumers and communities. “Last year’s bank failures coupled with an increasing trend towards concentration in the banking industry demonstrate the immediate need for t… Continue Reading


June 13, 2024

Brown Statement on Christy Goldsmith Romero Nomination to Chair the FDIC

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, congratulated Christy Goldsmith Romero on her nomination to be Chair of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and issued the following statement: “Christy Goldsmith Romero, who has been unanimously confirmed by the Senate twice, would bring to the FDIC decades of financial services experience, including valuable experience as … Continue Reading


June 12, 2024

Brown: The CFPB Stands Up for Consumers

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 Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” Sen. Brown’s remarks, as prepared for delivery follow: Last month, we defeated the latest in a long, long line of attacks on the Consumer Financial Protection Bureau by the corporate interests that want the agency of… Continue Reading


June 11, 2024

CFPB Heeds Brown Call to Eliminate Medical Debt from Consumers’ Credit Reports

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement on the Consumer Financial Protection Bureau’s new proposal to eliminate medical debt from consumer credit reports: “Medical debt can happen to anyone, at any time, and does not reflect creditworthiness. No one should be forced to pay higher rates for a mortgage or a car loan or deal with aggressive debt collectors, just because th… Continue Reading


May 22, 2024

Brown Presses DoorDash on High-Cost Loans to Small Businesses

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, raised concerns about DoorDash advertising merchant cash advance (MCA) products to small businesses on its platform. “MCAs are often high cost: merchants have paid the equivalent of interest rates over 800 percent or even higher in connection with MCAs,” wrote Brown. “The high cost of many MCAs—especially when combined with renewing or stacking advances—creates a… Continue Reading


May 20, 2024

Brown Calls for New Leadership at the FDIC

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 calling for new leadership at the Federal Deposit Insurance Corporation (FDIC): “After chairing last week’s hearing, reviewing the independent report, and receiving further outreach from FDIC employees to the Banking and Housing Committee, I am left with one conclusion: there must be fundamental changes at the FDIC. Those changes be… Continue Reading


May 16, 2024

Brown Reacts to Supreme Court Decision to Uphold the CFPB

WASHINGTON, DC - Today, U.S. Senator Sherrod Brown, Chairman of the Senate Committee on Banking, Housing and Urban Affairs released the following statement on the United States’ Supreme Court decision in Consumer Financial Protection Bureau v. Community Financial Services Association of America, to uphold the funding structure of the Consumer Financial Protection Bureau (CFPB). “Wall Street tried to use the courts to kill the Consumer Financial Protection Bureau, and they failed. Powerful corpo… Continue Reading


May 16, 2024

Brown Holds Oversight Hearing with Financial 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, “Oversight of U.S. Financial Regulators: Accountability and Financial Stability.” Sen. Brown’s remarks, as prepared for delivery follow: Today we’ll hear testimony from three key financial regulators whose agencies are responsible for protecting our banking system and making sure it serves al… Continue Reading


May 14, 2024

Brown: Fed’s Updated Stock Trading Rules Fall Short

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement on the Federal Reserve’s update to trading rules for members of the Federal Reserve Board and governors. “Public officials, whether at the Fed or in Congress, must serve the American people - not their own stock portfolios. The Board’s latest update to its trading rules still fails to establish the clear penalties needed for Fed… Continue Reading


May 9, 2024

Brown Demands Answers on Amazon and Walmart’s Use of So-Called “Dynamic Pricing”

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, raised concerns about corporations unfairly hiking prices by exploiting customer data and using pricing algorithms. In letters to the CEOs of Amazon and Walmart, Senator Brown made clear that “dynamic pricing” often leads to higher prices for consumers. He pressed for answers on how the companies are using these new technologies to set prices. “Prices are still t… Continue Reading


May 9, 2024

Brown: Corporate Junk Fees Raise Costs and Suppress Competition

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, “Consumer Protection: Examining Fees in Financial Services and Rental Housing.” Sen. Brown’s remarks, as prepared for delivery follow: Costs are far too high for Americans. And corporations are finding more and more ways to raise those costs, to boost their own profits. We’ve talked about ho… Continue Reading


May 7, 2024

Brown Statement on Independent FDIC Report

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chair of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement regarding the independent review of the Federal Deposit Insurance Corporation’s (FDIC) workplace culture. “The FDIC needs to be fixed. The women and men who work there deserve better,” said Brown. “Chair Gruenberg must accept responsibility and must immediately work to make fundamental changes to the agency and its culture.”   ###… Continue Reading


May 2, 2024

Brown: Corporate Price-Gouging Tactics Distort the Market and Drive Inflation

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, “Higher Prices: How Shrinkflation and Technology Can Impact Consumers’ Finances.” Senator Brown introduced the Shrinkflation Prevention Act in February to take on corporations raising Americans’ costs by reducing the size of their products. Sen. Brown’s remarks, as prepared for delivery follo… Continue Reading


April 24, 2024

SIGNED INTO LAW: Brown’s Bill to Crack Down on Fentanyl Traffickers Becomes Law

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown’s (D-OH) bipartisan legislation to crack down on fentanyl traffickers in Mexico and China was signed into law as part of the bipartisan national security legislation. The FEND Off Fentanyl Act takes action to expand sanctions to illicit fentanyl traffickers in Mexico and the creators of precursor chemicals in China. Senator Brown worked with law enforcement to craft the legislation, and national and Ohio law enforcement praised the bill’s pass… Continue Reading

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