Majority Press Releases
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
April 14, 2022
Brown Applauds EXIM Bank For Its Continued Commitment to Domestic Manufacturers
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 board of the Export-Import Bank (EXIM) voted unanimously and with bipartisan support to establish a new financing tool for domestic manufacturers. The creation of a domestic financing facility will help expand American manufacturing and improve domestic supply chains. “EXIM is doing exactly what Congress told the Bank to do when we re… Continue Reading
April 11, 2022
Biden Admin Heeds Brown's Calls to Ease Medical Debt
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Biden Administration announced it will take action to address consumer medical debt. In a hearing and a letter to the CFPB last month, Sen. Brown called on the Administration to take greater action to ease the growing burden of medical debt on consumers.“No one should have their financial future ruined because they get sick. These a… Continue Reading
April 7, 2022
Brown Urges Fed and OCC to Scrutinize Bank Mergers
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Federal Reserve Chair Pro Tempore Jay Powell and Acting Comptroller of the Currency Michael Hsu urging them to join the Federal Deposit Insurance Corporation (FDIC) in ensuring that bank mergers, if approved, serve American families, small businesses, and communities - not Wall Street and big corporations.“Enabled by rubber-stamp merger oversight, the … Continue Reading
April 6, 2022
Brown Chairs Nomination Hearing For Key Treasury and Mint Nominees
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 nomination hearing for Ms. Ventris C. Gibson, nominee to be Director of the Mint, and Mr. Paul M. Rosen, nominee to be Assistant Secretary of the Treasury for Investment Security.Sen. Brown’s remarks, as prepared for delivery, follow:The Committee meets today to consider the nominations of:Ms. Ventris C. Gibson to be… Continue Reading
April 5, 2022
Brown: New Insider Trading Legislation Will Ensure Everyone Plays By the Same Rules
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 “Keeping Markets Fair: Considering Insider Trading Legislation.”Sen. Brown’s remarks, as prepared for delivery, follow:The tragedy and uncertainty of the coronavirus pandemic taught us a lot about the economy and the stock market.At first, for a brief period at the beginning of the pandemic, the stoc… Continue Reading
March 31, 2022
Brown: To Ensure Seniors Can Age With Dignity, We Need More Affordable, Accessible Housing
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 “Affordability and Accessibility: Addressing the Housing Needs of America’s Seniors.”Sen. Brown’s remarks, as prepared for delivery, follow:No matter who you are, no matter where you live, at some point you’ve probably watched as an aging parent or grandparent has found it harder and harder to move a… Continue Reading
March 30, 2022
Brown, Colleagues Call on Regulators to Focus on Lending to Main Street
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, led his colleagues in a letter to the Federal Reserve Board, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency, urging them to work with banks and credit unions to ensure small businesses have access to safe and sound credit as Main Street recovers from COVID-19.“Recent research by the Federal Res… Continue Reading
March 30, 2022
Ahead of the Final Confirmation Vote, Brown Urges Colleagues to Support Judith Pryor For First Vice President of the Export-Import Bank
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 Judith Pryor for First Vice President of the Export-Import Bank of the United States. As First Vice President, Ms. Pryor will help lead the nation’s official export credit agency as it supports U.S. workers and manufacturers throughout our country. Video of Senator Brown’s remarks is a… Continue Reading
March 29, 2022
On the Senate Floor, Brown Urges Colleagues to Support Dr. Lisa Cook's Nomination to the Federal Reserve
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 Dr. Lisa Cook to be a Member of the Board of Governors of the Federal Reserve System.Video of Senator Brown’s remarks is available here.Sen. Brown’s remarks, as prepared for delivery, follow:Mr./Madame President, I urge my colleagues to join me in confirming Lisa Cook to the Board of Go… Continue Reading
March 29, 2022
Brown: We Must Address the Growing Crisis of Medical Debt Burdening American 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 “Economic Impact of the Growing Burden of Medical Debt.” This morning, Sen. Brown led his colleagues in a letter urging the Consumer Financial Protection Bureau (CFPB) to address the growing medical debt burden faced by American families.Sen. Brown’s remarks, as prepared for delivery, follow:Think ab… Continue Reading
March 29, 2022
Brown, Colleagues Urge CFPB to Address Medical Debt
U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, led his colleagues in a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra highlighting the growing medical debt burden faced by consumers. Specifically, the letter urges the CFPB to use its authority to address the growing medical debt burden faced by U.S. consumers, and establish an ombudsman position for consumer medical debt. The ombudsman would help to facil… Continue Reading
March 25, 2022
Senators Reverend Warnock, Brown Pressure Banks to Provide Relief to Struggling Georgians, Eliminate Overdraft Fees
Today, U.S. Senator Reverend Raphael Warnock (D-GA), chair of the U.S. Senate Banking Subcommittee on Financial Institutions and Consumer Protection, joined Senator Sherrod Brown (D-OH), chair of the Senate Committee on Banking, Housing, and Urban Affairs, to send letters to major banks urging them to lower or fully eliminate their overdraft fees. The letters were sent to the Chief Executive Officers of Charles Schwab, JPMorgan Chase, PNC Financial Services Group, TD Group, Truist Financial Corp… Continue Reading
