Majority Press Releases
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
March 24, 2022
Brown Applauds New Sanctions on Putin Allies
WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement applauding President Biden’s announcement of new targeted sanctions on Duma members, Russian elites, and defense firms and others supporting Putin’s war effort.“These powerful new sanctions against hundreds of Putin allies are another critical step in U.S. leadership, bringing our allies together to ratchet up pressure on Russia to ha… Continue Reading
March 24, 2022
Brown: Biased Appraisals Hurt Homeowners, Communities, And Our Housing System
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 “Strengthening Oversight and Equity in the Appraisal Process.” Yesterday, Sen. Brown applauded the Biden-Harris Administration’s Property Appraisal and Valuation Equity (PAVE) Interagency Task Force Action Plan to end biased appraisals.Sen. Brown’s remarks, as prepared for delivery, follow:A home is … Continue Reading
March 24, 2022
On The Senate Floor, Brown Urges Colleagues to Revoke Permanent Normal Trade Relations With Russia
WASHINGTON, D.C. - Today on the Senate Floor, U.S. Senator Sherrod Brown (D-OH) called for the U.S. Senate to act and vote to revoke Permanent Normal Trade Relations with Russia. A bill passed the House by a near unanimous and bipartisan vote and Brown is calling on his colleagues to pass this legislation in the Senate.“Russia should not have free and unlimited access to America’s economy. Even before this war, we knew that Russia cheats the rules on trade,” said Brown. “We need to do our part t… Continue Reading
March 23, 2022
Brown Applauds PAVE Interagency Action Plan on Equity in Appraisals
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement on the release of the Biden-Harris Administration’s Property Appraisal and Valuation Equity (PAVE) Interagency Task Force Action Plan. This week, Brown will hold a Committee hearing called: “Strengthening Oversight and Equity in the Appraisal Process.” “Black and brown families face greater barriers to homeownership at every turn - including i… Continue Reading
March 22, 2022
Brown: To Speed Up Supply Chains, We Must Reinvest in American 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 “Building a Resilient Economy: Shoring Up Supply.”Sen. Brown’s remarks, as prepared for delivery, follow:For generations, manufacturing was the lifeblood of communities across Ohio and throughout the country. It was heavily unionized and the jobs paid well - and it’s not a coincidence that those thin… Continue Reading
March 21, 2022
Brown Applauds SEC's New Climate Disclosure Rule
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) proposed new climate disclosures rules. The new disclosure requirements would require public companies to disclose climate-related information critical for investors to understand material risks to companies.“To protect Americans and our economy from climate change, we have to understand how cl… Continue Reading
March 18, 2022
Brown Statement on Removal of Medical Debt From Credit Reports
Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after the nation’s largest credit-reporting firms: Equifax, Experian, and TransUnion announced they would remove most medical debt from credit reports; the changes came after the Consumer Financial Protection Bureau (CFPB) announced it would hold bureaus accountable for inaccurate reports:“Finally, millions of Americans will no longer have to worry about medical … Continue Reading
March 17, 2022
Brown, Colleagues Call For Review of Wells Fargo Refinancing Process
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), Tina Smith (D-MN), Raphael Warnock (D-GA), Elizabeth Warren (D-MA), Ron Wyden (D-OR), Jon Ossoff (D-GA), Jeff Merkley (D-OR), Alex Padilla (D-CA), Bernie Sanders (D-VT), and Mark Warner (D-VA) sent a letter to the Department of Housing & Urban Development (HUD) and the Consumer Financial Protection Bureau (CFPB) to request a review… Continue Reading
March 17, 2022
Brown: We Must Protect Workers, Small Businesses, And Our Economy From Crypto Abuses
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 “Understanding the Role of Digital Assets in Illicit Finance.”Sen. Brown’s remarks, as prepared for delivery, follow:In 2019, a doctor’s office in the Mahoning Valley in Ohio experienced a disturbing attack: hackers locked the office computers, making them unusable. They even faxed over a ransom note, promising to unlo… Continue Reading
March 16, 2022
Brown Moves Fed and FHFA Nominees
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, held an executive session to vote on the nominations of: The Honorable Jerome H. Powell for Chairman of the Federal Reserve; The Honorable Lael Brainard for Vice Chair of the Federal Reserve; Dr. Lisa DeNell Cook and Dr. Philip Jefferson for Governors of the Federal Reserve; and Ms. Sandra Thompson for Director of the Federal Housing Finance Agency. Ms. Sandra Thompson was advance… Continue Reading
March 16, 2022
Brown Presses Admin to Study How Private Equity Companies Are Endangering Workers' Retirements
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 a letter to Steven Seitz, Director of the Treasury Federal Insurance Office, and Dean Cameron, President of the National Association of Insurance Commissioners, highlighting concerns about private equity’s growing role in the insurance industry.“I am writing to express my concern that insurance investment products workers depend on for their retirement are … Continue Reading
March 16, 2022
Brown Statement on FOMC Meeting
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 Open Market Committee (FOMC) raised interest rates for the first time since 2018: “At this pivotal moment, as we grapple with unprecedented supply chain disruptions and economic uncertainty surrounding Russia’s invasion of Ukraine, the Fed must use every tool at its disposal to tackle inflation, protect our economy from financ… Continue Reading
March 15, 2022
Brown Statement on the Federal Reserve Nominees
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding the withdrawal of Ms. Sarah Bloom Raskin, nominee to be Federal Reserve Vice Chair for Supervision.“I thank Sarah Bloom Raskin for her commitment to public service, and for serving our nation with honor and distinction as Deputy Secretary of Treasury, Governor of the Federal Reserve System, and Commissioner of Financial Regulation for… Continue Reading
March 15, 2022
Brown: Better, Faster Transit Will Help Communities Grow
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.”Sen. Brown’s remarks, as prepared for delivery, follow:Ohioans know how we let our infrastructure languish for far too long. They talked to Congress for years, trying to get Washington to listen.Presidents of both parties promi… Continue Reading
March 9, 2022
Brown Applauds President Biden's Ban on Russian Energy Imports
WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement applauding President Biden’s announcement to ban Russian energy imports following the invasion of Ukraine.“Now is the time to ban Russian oil imports. It will increase the economic consequences of Putin’s invasion even further, and send a clear signal to the Ukrainian people: Putin cannot invade your country, kill innocent civilians, … Continue Reading
March 9, 2022
Brown Applauds President Biden's Crypto Executive Order
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement regarding President Biden’s executive order on digital assets.“It’s imperative we strengthen our financial resilience and national security right now. That includes protecting Americans from the risks of crypto to our economy and ensuring crypto can’t be used to skirt the law,” said Brown. “The President is right to take a whole-of-gove… Continue Reading
March 8, 2022
Brown: Banning Forced Arbitration Will Give Consumers Back Their Rights
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 “Examining Mandatory Arbitration in Financial Service Products.”Sen. Brown’s remarks, as prepared for delivery, follow:Last Thursday, President Biden signed the “Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act” - a bipartisan bill to stop corporations from denying their workers … Continue Reading
March 7, 2022
Brown Introduces Bill to Protect Consumers By Banning Forced Arbitration
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, introduced the Arbitration Fairness for Consumers Act, legislation to prohibit banks and other financial institutions from using forced arbitration clauses against consumers who want to seek restitution and justice.“Forced arbitration clauses let big companies hide from accountability and silence victims, giving more power to Wall Street over workers and their families… Continue Reading
March 4, 2022
Waters, Brown, Gottheimer Request Information on Financing of Domestic Violent Extremism
WASHINGTON, D.C. - Yesterday, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, Senator Sherrod Brown (D-OH), Chairman of the Committee on Banking, Housing, and Urban Affairs, and Congressman Josh Gottheimer (D-NJ), sent a letter to the Government Accountability Office (GAO) requesting a review of the methods by which domestic violent extremists (DVE) and homegrown violent extremists (HVE) fund their activities and how financial institutions are addressing… Continue Reading
