Majority Press Releases
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
February 17, 2022
Brown: Republicans Are AWOL in the Fight Against Inflation
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 on Republican attempts to block key federal Reserve Nominees:“Ranking Member Toomey is holding up our fight against inflation because Ms. Bloom Raskin doesn’t remember a phone call from five years ago. Ranking Member Toomey isn’t interested in answers, only preventing a qualified Vice Chair for Supervision, twice before confirmed by the… Continue Reading
February 17, 2022
Brown: We Must Use Every Tool We Can to Fight Inflation and Continue 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 State of the American Economy: A Year of Unprecedented Economic Growth and Future Plans.”Sen. Brown’s remarks, as prepared for delivery, follow:Every day, Americans get up, go to work and do their jobs. But our Republican colleagues refuse to do theirs.On Tuesday, this Committee met to vote on f… Continue Reading
February 16, 2022
On Senate Floor, Brown Calls on Republicans to Get Back to Work and Vote on Fed Nominees
WASHINGTON, D.C. - 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 out Republicans for walking out on the American people. Yesterday, Republicans of the Committee refused to attend a pre-scheduled vote on crucial Federal Reserve Board nominations, even as Americans struggle with surging prices and inflation.“Americans every day get up, go to work, do their jobs. They expect us to get up every day… Continue Reading
February 15, 2022
Brown: Republicans Have Walked Out on the American People
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 remarks during a meeting with Banking Committee members. Sen. Brown’s remarks, as prepared for delivery, follow:In a little over a year since President Biden took the oath of office, we’ve seen the American economy come roaring back.We’ve added 6.6 million new jobs—a record for any President’s first year in office. For the first time in two deca… Continue Reading
February 15, 2022
Chairman Brown Blasts Ranking Member Toomey For Walking Out On the American People
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 after Ranking Member Toomey announced he would not attend the markup for the Federal Reserve Nominees:“Today, Ranking Member Toomey chose to abdicate his duty to the American people and put our economic recovery at risk, instead of doing his job and showing up to vote on Ms. Bloom Raskin, Dr. Cook, Dr. Jefferson, Gov. Brainard, and Chai… Continue Reading
February 15, 2022
Brown: Stablecoins Endanger Americans’ Hard-earned Money and Our Entire Economy
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 the President’s Working Group on Financial Markets Report on Stablecoins.” The Treasury Department released the President’s Working Group report in November. Sen. Brown’s remarks, as prepared for delivery, follow:Let me start by talking about the Federal Reserve. This afternoon at 2:15 we will be meeting in … Continue Reading
February 10, 2022
Brown: Our Housing Market Should Serve Renters and Communities – Not Private Equity’s Bottom Lines
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 “How Institutional Landlords are Changing the Housing Market.” On Tuesday, the Committee hosted a listening session to amplify stories from renters living in homes owned by private equity firms and other institutional investors.Sen. Brown’s remarks, as prepared for delivery, follow:Whenever there’s a problem in the eco… Continue Reading
February 9, 2022
Brown: Reta Jo Lewis’ Confirmation Is a Win for American Manufacturing
Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, applauded Reta Jo Lewis’ confirmation as President of the Export-Import (EXIM) Bank. Yesterday, he took to the Senate Floor in support of Lewis’ nomination. Lewis was confirmed today by a vote of 56-40.Video of Senator Brown’s remarks can be found here. Brown’s remarks on the Senate floor, as prepared for delivery, are below: Mr./Madame President:I urge all my colleagues to join m… Continue Reading
February 9, 2022
Brown Highlights Renters' Stories on Senate Floor
WASHINGTON, D.C. - Today, 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 to share stories from renters across the country about living in homes owned by private equity firms and other institutional investors.In addition to yesterday’s listening session, Senator Brown will chair a Committee hearing tomorrow, titled “How Institutional Landlords are Changing the Housing Market.” The hearing will be live streamed… Continue Reading
February 9, 2022
Brown Hosts Renters From Across the Country for Listening Session on How Big Money Landlords Are Changing the Housing Market
WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, hosted renters from across the country for a listening session. The renters shared their stories about living in homes owned by private equity firms and other institutional investors.“More and more deep-pocketed investors are buying up the homes that serve as the foundation for families’ lives. They see these buildings as nothing more than annual return on equit… Continue Reading
February 9, 2022
Brown, Waters, Maloney Applaud Treasury Proposal to Implement Law Cracking Down on Anonymous Shell Companies
WASHINGTON, D.C. - Today, Sen. Sherrod Brown, Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Rep. Maxine Waters, Chairwoman of the House Financial Services Committee, and Rep. Carolyn B. Maloney, Chairwoman of the House Committee on Oversight and Reform, wrote to Treasury Secretary Janet Yellen and Financial Crimes Enforcement Network (FinCEN) Acting Director Himamauli Das supporting and responding to FinCEN’s proposed rule implementing key sections of the Corporate T… Continue Reading
February 7, 2022
Banking Committee Democrats Look Forward to the FDIC Getting Back to Business
WASHINGTON, D.C. - Today, Democrats on the Senate Banking, Housing, and Urban Affairs Committee, led by Chairman Sherrod Brown (D-OH) and including Sens. Bob Menendez (D-NJ), Mark Warner (D-VA), Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), Tina Smith (D-MN), and Raphael Warnock (D-GA) issued the following joint statement regarding Marty Gruenberg stepping into the role of Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Gruenberg, a former FDIC Chairman and Vice Chairman… Continue Reading
February 7, 2022
Brown, Colleagues Seek Answers on Reports of JPMorgan Robo-signing
WASHINGTON, D.C. - Today, Sen. Sherrod Brown (D-OH), Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, along with Committee members Sens. Menendez (D-NJ), Smith (D-MN), Warren (D-MA), Van Hollen (D-MD), and Warnock (D-GA), sent a letter to JPMorgan Chase seeking to better understand the company’s credit card collection practices, including reports that JPMorgan has resumed the practice of robo-signing to sue customers.Brown and his colleagues emphasized the risks that ro… Continue Reading
February 4, 2022
Warner, Brown Call on SEC to Update Human Capital Disclosures So That Companies Report the Number of Employees Who Are Not Full-time Workers
U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Sen. Sherrod Brown (D-OH), chairman of the committee, today called on the Securities and Exchange Commission (SEC) to require companies to report on how many workers they employ who are not classified as full-time employees, including independent and subcontracted workers.“We believe that the disclosure of this data is critical to fully capture companies’ human capital management. W… Continue Reading
February 3, 2022
Brown: The American People Deserve a Fed Board That Works for Them
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 the Honorable Sarah Bloom Raskin, nominee to be Federal Reserve Vice Chair for Supervision; and Dr. Lisa Cook and Dr. Philip Jefferson, nominees to be Governors of the Federal Reserve:Sen. Brown’s remarks, as prepared for delivery, follow:In the first year of the Biden-Harris Administration, we’ve seen tremendous… Continue Reading
