Majority Press Releases
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
March 3, 2022
Brown to Powell: The Fed Must Continue to Lead Our Economic Recovery
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 the Congress.”Sen. Brown’s remarks, as prepared for delivery, follow:I want to start by acknowledging that as we sit here this morning, Ukrainians are showing such courage and resolve, fighting Russian invaders in their homeland. Ukrainian families fleeing in… Continue Reading
March 2, 2022
Tester, Tillis, Brown, Toomey Introduce Bipartisan Legislation to Protect Consumers, Provide Certainty for Financial Institutions
(U.S. Senate) - As a critical but little-known financial tool that determines global interest rates for more than $200 trillion in contracts in the United States and across the world is set to end in June 2023, U.S. Senators Jon Tester (D-Mont.), Thom Tillis (R-N.C.), and Senate Banking Committee Chairman Sherrod Brown (D-Ohio) and Ranking Member Pat Toomey (R-Penn.) today introduced their bipartisan Economic Continuity and Stability Act that would provide certainty for American consumers and bu… Continue Reading
March 2, 2022
Senators Warren, Warner, Brown, Reed Express Concerns to Treasury Regarding Potential Use of Cryptocurrency to Evade Sanctions
Text of Letter (PDF)Washington, D.C. — United States Senator Elizabeth Warren (D-Mass.), Senate Intelligence Committee Chairman Mark Warner (D-Va.), Senate Banking, Housing, and Urban Affairs Chairman Sherrod Brown (D-Ohio), and Senate Armed Services Committee Chairman Jack Reed (D-R.I.) led a letter to Treasury Secretary Janet Yellen raising concerns regarding the potential use of cryptocurrency to evade sanctions, which have become even more urgent amid the sanctions imposed on Russia after th… Continue Reading
March 1, 2022
On Senate Floor, Brown Stresses the Need for a Full Federal Reserve Board to Address Inflation and Economic Uncertainty
U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, took to the Senate floor today to call on his Republican colleagues to vote on crucial Federal Reserve Board nominations.Video of Senator Brown’s remarks is available here.Sen. Brown’s remarks, as prepared for delivery, follow:Mr./Mdme. President, Every day, Americans get up, go to work, and do their jobs. It’s time for us to do ours. We have five outstanding nominees for the Federal Res… Continue Reading
February 24, 2022
Brown Applauds Biden Administration Plan to Impose Stricter Sanctions on Russia in Response to Its Invasion of Ukraine
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 the Biden administration’s plan to impose stricter economic and financial sanctions on Russia and Putin following the invasion of Ukraine.“Russia’s unprovoked assault on Ukraine is an affront to freedom and democracy the world over. This attack will be met with united, decisive action by the United States and our allies. Vl… Continue Reading
