Majority Press Releases

August 5, 2022

Brown Continues Push on Private Equity Firms' Involvement in the Insurance Industry

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent two letters asking for the continuing consideration of private equity’s growing role in the insurance industry. In follow-up letters to Steven Seitz, Director of the Treasury Federal Insurance Office (FIO), and Dean Cameron, President of the National Association of Insurance (NAIC), Brown made clear that FIO and NAIC need to continue their analysis of chang… Continue Reading


August 5, 2022

Brown and Reed Urge Greater Transparency in the Private Fund Market

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, and Sen. Jack Reed (D-RI), a senior member of the committee, sent a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler expressing support for its proposed rules for private fund advisers. The rules would enhance transparency in the private fund market and protect investors from conflicts and harmful practices.“[T]he Proposal would bring necessary and important transparency t… Continue Reading


August 4, 2022

Brown, Colleagues Call Out US Bank For Opening Fake Accounts

WASHINGTON, D.C. — Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, joined fellow Banking and Housing Committee members Elizabeth Warren (D-MA), Catherine Cortez Masto (D-NV), Chris Van Hollen (D-MD), and Robert Menendez (D-NJ) in a letter to Andrew Cecere, CEO of U.S. Bank, requesting information about the bank’s use of consumer data to open unauthorized bank accounts. The letter comes after the Consumer Financial Protection Bureau (CFPB) fined… Continue Reading


August 4, 2022

Brown: Climate Change is Here, We Must Act Now

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 “Borrowed Time: The Economic Costs of Climate Change.”Sen. Brown’s remarks, as prepared for delivery, follow:Climate change is here - and the country knows it.It’s here for Ohio teachers and students forced to work in schools without air conditioning in 90-plus degree heat, for more and more days at … Continue Reading


August 2, 2022

Brown Calls Out Big Investors and Private Equity Companies For Harming Renters and Communities

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 Rent Eats First’: How Renters and Communities are Impacted by Today’s Housing Market.”Sen. Brown’s remarks, as prepared for delivery, follow:Yesterday was the first of the month. For millions of Americans, that means the rent was due.And for many renters, that rent keeps going up and up.Two wee… Continue Reading


July 28, 2022

Brown Presses Apple And Google On Protections Against Crypto App Fraud

WASHINGTON, D.C. — Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, sent letters to Sundar Pichai, CEO of Alphabet and Google, and Tim Cook, CEO of Apple, requesting information about the companies’ mobile application safeguards. Senator Brown’s letter comes on the heels of a Federal Bureau of Investigation (FBI) warning against fake cryptocurrency apps that have scammed hundreds of investors for losses of more than $42 million.“Cyber criminals … Continue Reading


July 28, 2022

Brown: Crypto Risks And Scams Put Americans' Money At Risk

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 “Protecting Investors and Savers: Understanding Scams and Risks in Crypto and Securities Markets.”Sen. Brown’s remarks, as prepared for delivery, follow:Financial fraud and scams have always been with us. In fact, they’re older than money itself. Criminals have always found inventive ways to cheat pe… Continue Reading


July 27, 2022

Brown: Working Families Must Not Be Crushed in Our Fight Against Inflation

WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Open Market Committee (FOMC) announced an increase in interest rates:“When Wall Street and corporations run the economy, no matter what goes wrong, working people always pay the price,” said Brown. “Interest rate hikes alone, without action from the politicians who enabled the corporate concentration and outsourcing of su… Continue Reading


July 26, 2022

Brown, Colleagues Reintroduce Legislation to Fight Discrimination from Financial Institutions

WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Sens. Raphael Warnock (D-GA), Bob Menendez (D-NJ), Catherine Cortez-Masto (D-NV), Cory Booker (D-NJ), Tina Smith (D-MN), Chris Van Hollen (D-MD), Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Kirsten Gillibrand (D-NY), Alex Padilla (D-CA), Tammy Duckworth (D-IL), Jeff Merkley (D-OR), Ed Markey (D-MA), Tammy Baldwin (D-WI), Sheldon Whitehouse (D-RI), Dianne Fe… Continue Reading


July 21, 2022

Brown: Too Many Americans Are Priced Out of the Housing Market

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 “Priced Out: The State of Housing in America.”Sen. Brown’s remarks, as prepared for delivery, follow:You can’t open up a paper or turn on the news without hearing about housing - how much it costs, and how hard it is to find. The headlines tell the story.“The Housing Shortage Isn’t Just a Coastal Cri… Continue Reading


July 14, 2022

Brown: Export Controls Are Crucial to Weaken Russia

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 “Advancing National Security and Foreign Policy Through Export Controls: Oversight of the Bureau of Industry and Security.Sen. Brown’s remarks, as prepared for delivery, follow:Today we welcome our witness, Alan Estevez, who serves as Under Secretary for Industry and Security at the Department of Com… Continue Reading


July 14, 2022

Brown Applauds Herrnstadt Confirmation to EXIM

WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Senate confirmed Mr. Owen Herrnstadt to be a Member of the Board of Directors of the Export-Import Bank of the United States.“I applaud Owen Herrnstadt’s confirmation to the Board of Directors of the Export-Import Bank,” said Brown. “Mr. Herrnstadt has decades of experience advocating for American workers and manufacturers,… Continue Reading


July 13, 2022

Brown, Colleagues Urge Stronger Fed Ethics Rules

WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, joined Sen. Raphael Warnock (D-GA), Sen. Jon Ossoff (D-GA), Sen. Jeff Merkley (D-OR), and Sen. Kirsten Gillibrand (D-NY), in a letter to Chairman Jerome Powell of the Board of Governors of the Federal Reserve urging stronger investment and trading policies for Federal Reserve officials to improve accountability and transparency. In the letter, the Senators highlighted shortc… Continue Reading


July 13, 2022

Brown Urges Support For Michael Barr Ahead of Confirmation Votes

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 Mr. Michael Barr to be a Member and the Vice Chair for Supervision of the Board of Governors of the Federal Reserve System. After Barr is confirmed, the Federal Reserve will be fully staffed for the first time in nearly a decade.Video of Senator Brown’s remarks is available here.Sen. Br… Continue Reading


July 12, 2022

Brown: Transit is All About the Dignity of Work

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 “Advancing Public Transportation under the Bipartisan Infrastructure Law: Update from the Federal Transit Administration.”Sen. Brown’s remarks, as prepared for delivery, follow:Last Thursday, I invited our witness, FTA Administrator Nuria Fernandez, to Columbus to see the excitement in the community … Continue Reading


June 30, 2022

Brown Blasts the Supreme Court’s Decision in West Virginia v. EPA

WASHINGTON, D.C. — Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement in response to the Supreme Court’s decision in West Virginia v. EPA.“Let’s be clear about what is at the heart of the matter - the Supreme Court has sided with corporate power and polluters over the people and the planet. Stripping the Environmental Protection Agency of its ability to regulate under the Clean Air Act hobbles the agency’s abilit… Continue Reading


June 23, 2022

Brown Statement on Wall Street Stress Test

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 Federal Reserve released its Dodd Frank Act Stress Test (DFAST) results. Stress tests are assessments performed by the Federal Reserve to ensure banks are strong enough to withstand a downturn in the economy without setting off another financial crisis.“It is past time for the Fed to implement rigorous stress tests and strong capital … Continue Reading


June 23, 2022

Brown Holds NFIP Reauthorization Hearing With FEMA

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 “Reauthorization of the National Flood Insurance Program: Administration Perspectives.”Sen. Brown’s remarks, as prepared for delivery, follow:Flooding is the most common and most costly natural disaster facing families, businesses, and communities across the country. And climate change is only making… Continue Reading


June 22, 2022

Brown Urges Chair Powell to Prioritize Working Families

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 Semiannual Monetary Policy Report to Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:Today we’ve seen the fastest job growth in decades, faster growth than China, and the lowest unemployment levels in 50 years.But when Americans see the price of gas and groceries going up, week … Continue Reading


June 16, 2022

Brown: We Need to Protect Communities and Families From Rising Flood Risks

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 “Reauthorization of the National Flood Insurance Program: Protecting Communities from Flood Risk.”Sen. Brown’s remarks, as prepared for delivery, follow:Flooding is the most common and most costly natural disaster facing families, businesses, and communities across the country. And our failure to com… Continue Reading

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