Majority Press Releases
Brown Demands Congress Do More For The Workers Who Keep Our Economy Afloat
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following opening statement at today’s hearing entitled “The Status of the Federal Reserve Emergency Lending Facilities.”Sen. Brown’s remarks, as prepared for delivery, follow:More than 150 years ago President Lincoln observed, “It has so happened in all ages of the world that some have labored, and others have, without labor, enjoyed a lar… Continue Reading
September 4, 2020
Brown Statement on HUD Inspector General’s Reports on Water Contamination in Assisted-Housing Units
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement after the U.S. Department of Housing and Urban Development (HUD) Inspector General released reports on water contamination in HUD-assisted communities. The HUD Inspector General’s office report specifically examined Public Housing and Housing Choice Voucher communities and Multifamily communities under HUD’s supervision. “No one shou… Continue Reading
September 4, 2020
BROWN, WARREN, VAN HOLLEN, MENENDEZ, AND REED PROBE CFPB’S FAILURE TO ALERT BORROWERS TO MORTGAGE RELIEF OPTIONS DURING PANDEMIC
Washington, DC - U.S. Senator Sherrod Brown (D-OH), Ranking Member of the Banking Committee, along with Elizabeth Warren (D-MA), Senators Chris Van Hollen (D-MD), Robert Menendez (D-NJ), and Jack Reed (D-RI), also members of the Banking Committee, sent a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger regarding the agency’s failure to use its authority to ensure that borrowers are aware of the mortgage relief options they are legally entitled to during the CO… Continue Reading
September 3, 2020
Leading Senate Democrats Demand Immediate U.S. Sanctions for Russian Interference in 2020 Elections
Washington, D.C. - Leading Senate Democrats urged the U.S. Treasury Department to sanction Russian individuals and government actors for their interference in the 2020 election.Finance Committee Ranking Member Ron Wyden, Senate Minority Leader Chuck Schumer, Banking Committee Ranking Member Sherrod Brown, Intelligence Committee Vice-Chair Mark Warner, Homeland Security and Governmental Affairs Committee Ranking Member Gary Peters, Armed Services Committee Ranking Member Jack Reed, Foreign… Continue Reading
September 1, 2020
Brown Statement on Trump Administration’s Eviction Order
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement after the Trump administration announced a new order on evictions. Brown has been calling for emergency rental assistance to keep renters in their homes. This assistance was included in the House-passed HEROES Act in May 2020. “President Trump has finally acknowledged what Democrats have been saying for months: that our nation’s impe… Continue Reading
September 1, 2020
Brown, Colleagues Demand the Office of Special Counsel Investigate HUD Secretary Ben Carson for Possible Hatch Act Violation
U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today led his colleagues in demanding the Office of Special Counsel (OSC) investigate whether Secretary Ben Carson of the Department of Housing and Urban Development (HUD), violated the Hatch Act. The Hatch Act limits the use of federal resources for certain political activities of federal employees. The lawmakers made clear that HUD’s decision to distribute Secretary Carson’… Continue Reading
August 27, 2020
Brown Statement On HUD and FHFA Again Extending Foreclosure Moratoriums for Homeowners During The Coronavirus Pandemic
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today released the following statement following the announcement that the Department of Housing and Urban Development (HUD) and Federal Housing Finance Agency (FHFA) will extend the suspension of foreclosures on FHA-insured and Fannie Mae- and Freddie Mac-backed mortgages until at least December 31, 2020. While the announcement extends protections for some homeowners, mill… Continue Reading
August 21, 2020
Brown Blasts SEC For Moving Anti-Investor Proposal Forward
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today sent a letter to Securities and Exchange Commission (SEC) Chair Jay Clayton regarding the Procedural Requirements and Resubmission Thresholds under Exchange Act Rule 14a-8. The SEC is expected to finalize the rule next month, but Brown in his letter urged the agency to withdraw the rule, which based on the SEC’s own data could prevent a substantial portion of individual… Continue Reading
August 21, 2020
Brown Blasts SEC For Moving Anti-Investor Proposal Forward
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today sent a letter to Securities and Exchange Commission (SEC) Chair Jay Clayton regarding the Procedural Requirements and Resubmission Thresholds under Exchange Act Rule 14a-8. The SEC is expected to finalize the rule next month, but Brown in his letter urged the agency to withdraw the rule, which based on the SEC’s own data could prevent a substantial portion of individual… Continue Reading
August 20, 2020
Brown, Colleagues Sound Alarm, Demand Answers Regarding Fannie Mae & Freddie Mac’s Sudden Decision to Increase Mortgage Refinancing Costs for Homeowners In The Midst Of An Economic Downturn
U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today led 15 Senate Democrats in a letter to Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), expressing concern and demanding answers regarding the sudden announcement that Fannie Mae and Freddie Mac (the Enterprises) will begin charging an additional 50 basis points in up-front fees for all refinance loans delivered to the Enterprises on or after Septemb… Continue Reading
August 14, 2020
Brown Statement On The GSE Fee Increase
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement after Fannie Mae and Freddie Mac (the GSEs) announced their decision, which was approved by their regulator, the Federal Housing Finance Agency (FHFA), to raise costs for home refinances: “This is what one would expect from Trump’s FHFA Director. FHFA and the GSEs’ decision to raise costs on homeowners will hurt families … Continue Reading
August 11, 2020
Brown, Colleagues Urge FHFA To Extend The Comment Period For Critical Capital Rule
U.S. Sen. Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today led 9 Senate Democrats in a letter to Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), urging the agency to extend the comment period for the proposed capital framework for Fannie Mae and Freddie Mac. The Senators cited the importance and complexity of the proposal, as well as the ongoing public health crisis, in calling for the extension. The Se… Continue Reading
August 10, 2020
BROWN: PRESIDENT TRUMP’S MEANINGLESS EXECUTIVE ORDERS DO NOTHING TO MAKE UP FOR HIS FAILURE TO ADDRESS PUBLIC HEALTH & ECONOMIC CRISES
CLEVELAND, OH - U.S. Senator Sherrod Brown (D-OH) today released a statement following President Trump’s announcement that he signed executive orders related to payroll tax, unemployment benefits, student loan payments, and evictions moratoriums. These meaningless PR stunts do not provide enough relief for Ohio workers and families to make up for the President’s failure to address the pandemic. “The President has shown no leadership since day one, and now he’s trying to save face by ann… Continue Reading
August 7, 2020
Brown, Colleagues Demand Trump Administration Rescind Proposals Leaving Workers’ Retirement Savings At Risk
WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor, and Pensions Committee, and Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee joined the House Education and Labor Committee Chairman Robert C. “Bobby” Scott, and House Financial Services Committee Chairwoman Maxine Waters in sending a letter to Labor Secretary Eu… Continue Reading
August 7, 2020
Brown Statement on the Confirmation of Caroline Crenshaw to the Securities and Exchange Commission
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement after Ms. Caroline Crenshaw was confirmed by the Senate to the Securities and Exchange Commission (SEC):“Ms. Crenshaw's history of public service and commitment to ensuring the financial markets work for all Americans will serve her well as an SEC Commissioner. I am confident that in her work she will think first about the… Continue Reading
August 6, 2020
Brown Presses CFTC For A Comprehensive Review of Possible Oil Market Manipulation; Says The Agency Must Do More To Protect Consumers From Market Abuses
Washington, DC - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today sent a letter to Commodity Futures Trading Commission (CFTC) Chair Heath Tarbert pushing for the agency to complete a thorough review of the unusual trading in oil futures that occurred earlier this year. The Senator citedrecent press reports that alleged one trading firm was central to the market conditions that caused the price of oil to fall below ze… Continue Reading
August 4, 2020
Brown, Colleagues Urge Congressional Leaders Negotiating The Next Coronavirus Relief Package To Ban Arbitration Clauses Attached To Needed Benefits
WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Bob Menendez, a senior member of the both the Banking and Finance Committee, led its Democratic members in urging lead negotiators of the next COVID-19 stimulus package to prohibit the Federal Government from attaching forced arbitration agreements to any form of benefit payments to Americans. Last March, the pre-paid debit cards IRS sent to four m… Continue Reading
July 31, 2020
Warren, Brown Criticize Fed Vice Chair Quarles' "Outrageous and Irresponsible" Lobbying for Regulatory Favors for Big Banks in COVID-19 Relief Package
Text of letter to Quarles (PDF) Text of letter to Powell (PDF) Washington, DC - United States Senators Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs' Subcommittee on Consumer Protection and Financial Institutions, and Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Federal Reserve's Vice Chairman for Supervision Randal Quarles questioning why he … Continue Reading
July 31, 2020
Brown, Warren, and Harris Call On CFPB To Protect Borrowers from Discrimination
United States Senators Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs’ Subcommittee on Consumer Protection and Financial Institutions, and Kamala D. Harris (D-Calif.) sent a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger urging the agency to take immediate actions to address potential viola… Continue Reading
July 29, 2020
At Hearing Brown Pushes CFPB Director To Protect Consumers, Not Corporations
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member 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’ Semiannual Report to Congress’.Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for holding this virtual hearing, and thank you, Director Kraninger, for participating in this hearing remotely to practice social … Continue Reading
