Majority Press Releases

November 30, 2023

Brown: The CFPB Is How Consumers and Servicemembers Take on Powerful Special Interests

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chair of the Senate Banking, Housing, and Urban Affairs Committee, 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. Since the CFPB first opened its doors, we have had more than a decade of progress towards rooting out abuses and injustices for consumers … Continue Reading


November 29, 2023

Brown, Reed Warn Regulators of Risks Posed by Private Credit Market

WASHINGTON, D.C. - Today, U.S. Senators Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Jack Reed (D-RI), a senior member of the Banking and Housing Committee, urged financial regulators to assess the potential risks posed by the growing private credit market. In a letter to Federal Reserve Vice Chair for Supervision Michael Barr, Federal Deposit Insurance Corporation Chair Martin Gruenberg, and Acting Comptroller Michael Hsu, the Senators urged… Continue Reading


November 28, 2023

Brown, Fetterman Press Cleveland Fed on Transparency in Selecting New President

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Senator John Fetterman (D-PA) pressed the presidential selection committee to ensure the selection process for the next President of the Cleveland Federal Reserve is transparent and includes public input. The Senators emphasized the importance of selecting a President that reflects the diversity of the region and that will put working families first. “The rec… Continue Reading


November 21, 2023

Brown Statement on FDIC Investigation

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after it was announced that the Federal Deposit Insurance Corporation (FDIC) Board will establish a Special Committee to oversee the independent review of agency culture. “The FDIC Board has taken appropriate steps so that the oversight of the outside firm’s assessment of the agency’s culture can proceed independently,” said Brown. … Continue Reading


November 17, 2023

Brown Leads Committee Democrats in Calling for An Independent Investigation of FDIC Culture

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, led 11 members of the Senate Banking and Housing Committee in calling for an independent investigation into the Federal Deposit Insurance Corporation (FDIC) after reports that the agency has failed to fix a toxic culture of sexual harassment and misconduct, discrimination, and misogyny. In a letter to FDIC Acting Inspector General Tyler Smith, the senators express… Continue Reading


November 16, 2023

Brown Calls for Independent Investigation into FDIC’s Workplace Culture

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement following reports of a toxic work culture at the Federal Deposit Insurance Corporation (FDIC).  “The reports are extremely concerning. I am calling for the FDIC’s Office of the Inspector General to conduct an independent and thorough investigation into the workplace culture at the agency.” ###… Continue Reading


November 16, 2023

Brown, Tester, Reed, Kaine Urge VA Secretary to Help Veterans Stay in Their Homes

WASHINGTON, D.C. - Yesterday, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Senators Jon Tester (D-MT), Chairman of the Senate Committee on Veterans’ Affairs and a senior member of the Banking and Housing Committee, Jack Reed (D-RI), a senior member of the Banking and Housing Committee and Chairman of the Senate Committee on Armed Services, and Tim Kaine (D-VA), a member of the Senate Committee on Armed Services, urged Depa… Continue Reading


November 14, 2023

Brown to Financial Regulators: You Are Responsible for Making Sure the Financial System Operates Safely

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chair of the U.S. Senate Banking, Housing, and Urban Affairs Committee delivered the following opening statement at today’s hearing on “Oversight of Financial Regulators: Protecting Main Street Not Wall Street.” Sen. Brown’s remarks, as prepared for delivery follow: Today we’ll hear testimony from the heads of the four federal agencies responsible for protecting our banking and credit union system and making sure it serves everyone: the… Continue Reading


November 8, 2023

Ahead Of Veterans Day, Brown and Colleagues Urge Credit Reporting Agencies to Better Protect Servicemembers’ Credit Reports

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, held a conference call outlining concerns that servicemembers and their families are not receiving the credit report protections required by law from the big three credit reporting agencies. Brown, along with Senators Jack Reed (D-RI), a senior member of the Banking Committee and Chairman of the Armed Services Committee, Catherine Cortez Masto (D-NV), Chris Van Ho… Continue Reading


November 7, 2023

Brown Statement on Release of Comprehensive Federal Home Loan Bank Review

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chair of the U.S. Senate Banking, Housing, and Urban Affairs Committee, released the following statement after the Federal Housing Finance Agency (FHFA) issued a report on the Federal Home Loan Bank (FHLBank) System. “The Federal Home Loan Bank System has played an important role in our housing market for 90 years. It is important that Director Thompson and FHFA undertook this comprehensive review, and I look forward to working with my c… Continue Reading


November 7, 2023

Brown Advances Nominations for NCUA, SEC, FDIC, SIPC, and Export-Import Bank

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, held an executive session to vote on the nominations of Ms. Tanya Otsuka, of Virginia, to be a Member of the National Credit Union Administration; The Honorable Mark Uyeda, of California, to be a Member of the Securities and Exchange Commission; The Honorable Spencer Bachus III, of Alabama, to be a Member of the Board of Directors of the Export-Import Bank; Ms. Je… Continue Reading


November 3, 2023

Brown Statement on Sam Bankman-Fried’s Conviction

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement on the conviction of FTX founder Sam Bankman-Fried: “This verdict is a victory for everyone fighting fraud and scams in crypto. In this trial, we saw how crypto companies like FTX think the law doesn’t apply to them, gamble with consumers’ money, and lie to the public. Americans continue to lose money every day in crypto scams and f… Continue Reading


November 2, 2023

Brown: CFPB is Servicemembers’ and Veterans’ Key Defender Against Fraud and Scams

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing on “Ensuring Financial Protection for Servicemembers, Veterans, and Their Families.” Sen. Brown’s remarks, as prepared for delivery follow: As we approach Veterans Day next week, we are all reminded of the unique challenges that servicemembers and their families face as they serve our nation. Families… Continue Reading


October 31, 2023

Brown Statement on New Proposal to Protect Workers’ and Retirees’ Financial Security

Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, applauded a new proposed rule by the Department of Labor to protect retirement savers from high fees and ensure employer retirement account advisers put the best interests of workers first. “It’s simple: workers investing their hard-earned savings for retirement deserve advice that is in their best interest, not recommendations for high-fee, often risky investments that happen to pay adv… Continue Reading


October 26, 2023

Brown: To Fight Terrorism, We Must Expose How Terrorists Finance Their Attacks

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered the following opening statement at today’s hearing on “Combating the Networks of Illicit Finance and Terrorism.” Sen. Brown’s remarks, as prepared for delivery follow: Earlier this month, the world watched in horror as Hamas committed brutal acts of terrorism against the people of Israel.  Hamas murdered innocent women and men and children. They attac… Continue Reading


October 24, 2023

Brown Applauds Rule to Fight Discrimination, Spur Investment in Communities

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH), Chair of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement on the final Community Reinvestment Act (CRA) rule issued by the Federal Reserve Board (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC). The new rule will modernize and strengthen implementation of the CRA, helping make sure that banks honor their commitment to communities that… Continue Reading


October 19, 2023

Brown, Braun Introduce Bipartisan Bill to Support Veteran Homebuyers

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, and Senator Mike Braun (R-IN), introduced new legislation to help inform veteran homebuyers of their eligibility for the VA Home Loan Program, which helps more veterans achieve the dream of homeownership. “By letting veterans and servicemembers know they may be eligible for a VA home loan, we can help make the dream of homeownership a reality for more military famil… Continue Reading


October 19, 2023

Brown Opening Statement at Nominations Hearing

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, held a hearing to consider the nominations of Ms. Tanya Otsuka to be a Member of the National Credit Union Administration, the Honorable Mark Uyeda to be a Member of the Securities and Exchange Commission, the Honorable Spencer Bachus III to be a Member of the Board of Directors of the Export-Import Bank, the Honorable Jennifer Fain to be Inspector General, Federa… Continue Reading


October 18, 2023

Brown, Colleagues Call on Administration to Address Crypto-Financed Terrorism After Reports of Hamas Raising Millions in Crypto to Fund Operations

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), along with Senator Elizabeth Warren (D-MA) and a bipartisan group of more than 100 lawmakers in the House and Senate, sent a letter to National Security Advisor Jake Sullivan and Brian Nelson, Under Secretary for Terrorism and Financial Intelligence at the Department of the Treasury. Their letter raised grave concerns about reports that in the months leading up to their brutal October 7th terrorist attack on Israel, Hamas and Palestini… Continue Reading


October 18, 2023

Brown Calls on Colleagues to Support Transparency in Small Business Lending

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, took to the Senate floor ahead of a Congressional Review Act (CRA) vote to overturn the Consumer Financial Protection Bureau’s rule on small business lending pursuant to Section 1071 of the Dodd-Frank Act. The rule is designed to promote access to credit and combat discrimination in small business lending by making small business lending data more transparent. Se… Continue Reading

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