Majority Press Releases

June 8, 2022

Brown Applauds the Release of Fannie Mae and Freddie Mac's New Equitable Housing Finance Plans

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 after the Federal Housing Finance Agency (FHFA) released Fannie Mae and Freddie Mac’s Equitable Housing Finance Plans for 2022-2024.“Access to housing remains unequal. I applaud Director Thompson for requiring Fannie Mae and Freddie Mac to show how they will make sure they are meeting the needs of all homebuyers and renters, and… Continue Reading


June 7, 2022

Brown Presses FSOC to Protect Consumer Data

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Treasury Secretary Janet Yellen to request a review by the Financial Stability Oversight Council (FSOC) of financial institutions’ consumer data activities and their potential threat to U.S. financial stability and security. In the letter, Brown highlighted the risks that data sharing poses when bad actors have access to sensitive consumer data.“I have long expressed serious c… Continue Reading


May 31, 2022

Brown: Wells Fargo Has Again Failed Its Customers and Workers

WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Wells Fargo CEO Charles Scharf laying out the megabank’s history of consumer abuses and gross mismanagement. In the letter, Brown urged Wells Fargo to finally right past wrongs and live up to the promises made to the American people following their fake accounts scandal.“Recent revelations of racial disparities in mortgage lending, fake job interviews for mi… Continue Reading


May 25, 2022

Ahead of Confirmation Vote, Brown Urges Colleagues to Support Sandra Thompson for FHFA Director

WASHINGTON, D.C. - Today on the Senate Floor, U.S. Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, called on his colleagues to support the nomination of Ms. Sandra Thompson for Director of the Federal Housing Finance Agency (FHFA). Ms. Thompson will be the first African American woman to be confirmed as Director of FHFA. Video of Senator Brown’s remarks is available here.Sen. Brown’s remarks, as prepared for delivery, follow:Mr./Madame … Continue Reading


May 18, 2022

Brown: Energy-Efficient Housing Will Lower Housing Costs and Fight Climate Change

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Addressing Climate Change with Energy-Efficient and Resilient Housing.”Sen. Brown’s remarks, as prepared for delivery, follow: First, I want to wish a quick and full recovery to our colleague Senator Van Hollen, who has been so active on these issues. We are all thinking of him and his family this m… Continue Reading


May 12, 2022

Brown Applauds the Confirmation of President Biden’s Federal Reserve Slate

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm President Biden’s Federal Reserve slate, including The Honorable Jerome H. Powell for Chairman of the Federal Reserve:“I congratulate Chair Powell, Vice Chair Brainard, Governor Jefferson, and Governor Cook on their confirmations and look forward to working with them to make our economy work for everyone,” said Brown. “All four h… Continue Reading


May 11, 2022

Brown Applauds the Confirmation of Dr. Philip Jefferson to the Federal Reserve Board

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm Dr. Philip Jefferson to be a Governor of the Federal Reserve. Jefferson will be the fourth Black man to serve as Governor:“I congratulate Dr. Jefferson on his confirmation to the Federal Reserve Board. Dr. Jefferson is one of the country’s leading thinkers on the economics of poverty and will be a critical voice on the Fed. He wi… Continue Reading


May 11, 2022

Brown Applauds Julia Gordon’s Confirmation to HUD

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm Julia Gordon to be Assistant Secretary for Housing and to lead the Federal Housing Administration.“I congratulate Julia Gordon on her confirmation. With decades of experience and support from every corner of the housing community, she has the expertise to help keep families in their homes and to make housing more affordable for e… Continue Reading


May 10, 2022

Brown Applauds the Historic Confirmation of Dr. Lisa Cook to the Federal Reserve Board

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the Senate voted to confirm Dr. Lisa DeNell Cook to be a Governor of the Federal Reserve:“I congratulate Dr. Cook on her historic confirmation to the Federal Reserve Board. She will be the first Black woman to ever serve on the Federal Reserve Board. She will bring an invaluable perspective while implementing the Federal Reserve’s dual mandate and protectin… Continue Reading


May 10, 2022

Brown: FSOC Should Protect Workers Not Wall Street

U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “The Financial Stability Oversight Council Annual Report to Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:Today we will hear testimony from the Secretary of the Treasury on the Financial Stability Oversight Council’s Annual Report for the first time in four years. This is the first time Secretary Yel… Continue Reading


May 5, 2022

Brown Applauds Interagency Community Reinvestment Act Rule

Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) together proposed updates to modernize and strengthen implementation of the Community Reinvestment Act (CRA).“The Community Reinvestment Act was a landmark civil rights law, passed by Congress to begin to undo the shameful legacy … Continue Reading


May 5, 2022

Brown: Student Debt Made a Lie Out of the American Dream

Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing entitled “Examining Student Loan Servicers and Their Impact on Workers.” On Tuesday, Chairman Brown convened a listening session to hear from borrowers across the country about their experiences with student loan debt and its impact on their lives, including how crippling student debt undermines the dignity of work.Last … Continue Reading


May 3, 2022

Brown Applauds FHFA for Recommitting to Collecting Language Preference and Counseling Information

Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement applauding the Federal Housing Finance Agency’s (FHFA) announcement that it would require mortgage lenders to collect key information on a borrower’s language preference and housing counseling history as part of the mortgage loan application.“Today’s action from FHFA is a long-overdue step to ensure that our housing system serves all eligible homebuyers… Continue Reading


May 3, 2022

Brown Hosts Listening Session on How Student Loan Debt Undermines the Dignity of Work

Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, hosted a listening session with student loan borrowers from around the country. The borrowers shared their experiences with student loan debt and its impact on their lives, including how crippling student debt undermines the dignity of work.“Student loan debt is preventing the hard work of a generation of Americans from paying off,” said Senator Brown at this morning’s listening s… Continue Reading


April 26, 2022

Brown Blasts Republican Attempts to Stonewall Dr. Lisa Cook’s Confirmation

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding the confirmation of votes of Governor Lael Brainard to be Vice Chair of the Federal Reserve Board, and the cloture vote of Dr. Lisa Cook, nominee to be a Member of the Board of Governors of the Federal Reserve System.“I congratulate Governor Lael Brainard on her confirmation to be Vice Chair of the Federal Reserve Board. I look forward to working with h… Continue Reading


April 26, 2022

Brown: Finally, the CFPB Is On the Side of Workers

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. 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:Welcome back Director Chopra.American workers need a strong Consumer Financial Protection Bureau on their side. With you at the helm, they finally have one again.We know … Continue Reading


April 21, 2022

Brown, Murray, Colleagues Urge Investigation of Training Repayment Agreements Saddling Workers With Debt

WASHINGTON, D.C. - Today, Sen. Sherrod Brown, Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Sen. Patty Murray, Chair of the U.S. Senate Health, Education, Labor, and Pensions Committee, led their colleagues in a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra urging the agency to investigate training repayment agreements (TRAs), which raise significant concerns about consumer and worker protection.TRAs require workers to pay back their… Continue Reading


April 19, 2022

Brown, Colleagues Applaud Biden Admin's Actions on Student Loan Program

WASHINGTON, D.C. - Today, Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Senators Dick Durbin (D-IL) and Elizabeth Warren (D-MA) released the following statement after the Biden administration announced it will take action to address problems with debt cancellation under the income-driven repayment (IDR) program.“This is an important step to ensure the effectiveness of our student loan cancellation programs and to enable low-income… Continue Reading


April 15, 2022

Brown Statement On The Vice Chair Of Supervision Nominee

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 President Biden announced the nomination of Michael Barr for Federal Reserve Vice Chair for Supervision: “Now more than ever, we need a full Fed Board - including a Vice Chair of Supervision. The Vice Chair of Supervision plays a critical role in protecting our financial system and must prioritize strong financial regulation, and … Continue Reading


April 14, 2022

Brown, Warren, Durbin Urge Review of Student Loan Program Mismanagement

WASHINGTON, D.C. - Today, Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Senators Dick Durbin (D-IL), and Elizabeth Warren (D-MA) sent letters urging the Consumer Financial Protection Bureau (CFPB) and Department of Education (ED) to review student loan servicers’ reported mismanagement of the income-driven repayment (IDR) program, leading to significant harm for low-income borrowers.“A recent NPR investigative report found the IDR… Continue Reading

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