Majority Press Releases
BROWN PRESSES SPECIAL INSPECTOR GENERAL FOR PANDEMIC RECOVERY (SIGPR) NOMINEE ON HIS INDEPENDENCE AND ABILITY TO HOLD THE TRUMP ADMINISTRATION ACCOUNTABLE
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 on the nominations of Brian D. Miller to be Special Inspector General for Pandemic Recovery, U.S. Department of the Treasury; and Dana T. Wade to be Assistant Secretary, U.S. Department of Housing and Urban Development.Sen. Brown’s remarks, as prepared for delivery, follow:Thank you, Mr. Chairma… Continue Reading
May 4, 2020
Brown, Colleagues Urge The CFPB To Halt Work On The Payday Rule And Restart The Rulemaking Process
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, today joined 11 of his Senate colleagues in sending a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger urging her to immediately halt work on the Payday Rule. The Senators cited press reports that extensively detail improper interference and manipulation of the rulemaking process for the Payday Rule by political appointees at … Continue Reading
May 1, 2020
Brown Urges Trump Administration to Prioritize American Manufacturers of Critical Personal Protection Equipment
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 Secretary Mnuchin calling for the Trump Administration to prioritize American manufacturers who produce Personal Protective Equipment (PPE) and medical supplies and equipment in CARES Act lending programs. Senator Brown in his letter made clear that American manufacturers and their workers are vital to the economy, our nation’s security, and our respon… Continue Reading
April 30, 2020
BROWN, SCHATZ CALL ON SBA TO PRIORITIZE SMALLER PPP LOANS
U.S. Sen. Sherrod Brown (D-OH) - Ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Sen. Brian Schatz (D-HI) yesterday called on Treasury Secretary Steven Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza to prioritize smaller banks and smaller loans in the Paycheck Protection Program. “We write to urge you to issue guidance to ensure that the processing and disbursement of Paycheck Protection Program (PPP) loans prioritize … Continue Reading
April 29, 2020
ICYMI: Sens. Brown, Warren, Banking Committee Colleagues Urge Major Mortgage Servicers to Immediately Notify Eligible Homeowners of Protections Available Through CARES Act
Washington, D.C. - 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, led a letter to major mortgage servicers -- Wells Fargo, JPMorgan Chase, Mr. Cooper, Bank of America, PennyMac Loan Services, Quicken Loans, Freedom Mortgage, New Residen… Continue Reading
April 29, 2020
Brown, Colleagues Urge the CFPB to Reinstate Vital HMDA Data Collection
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, today joined 18 of his Senate colleagues in sending a letter to Consumer Financial Protection Bureau Director Kathy Kraninger urging her to reverse her decisions to suspend the quarterly reporting of information under the Home Mortgage Disclosure Act (HMDA) during the COVID-19 pandemic and halt reporting of all HMDA data for lenders. Eliminating these repor… Continue Reading
April 27, 2020
BROWN, COLLEAGUES URGE MNUCHIN, POWELL TO EXPAND PPP OPPORTUNITIES FOR MINORITY AND UNDERSERVED COMMUNITIES
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joined U.S. Senators Mark R. Warner (D-VA), Chuck Schumer (D-NY), Jack Reed (D-RI), Bob Menendez (D-NJ), Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Doug Jones (D-AL) in pushing Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell to make sure that minority and low- and moderate-income (LMI) communities get proper access … Continue Reading
April 27, 2020
ICYMI: Brown, Democratic Lawmakers Call On Small Business Administration To Expand Paycheck Protection Program Opportunities For Small, Underserved Businesses
Washington, D.C.— U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joined Senate Democratic Leader Chuck Schumer, House Speaker Nancy Pelosi, Ranking Member of U.S. Senate Committee on Small Business and Entrepreneurship Ben Cardin, House Small Business Committee Chairwoman Nydia Velázquez, and House Financial Services Committee Chairwoman Maxine Waters in a letter to U.S. Treasury Secretary Steven Mnuchin and U.S. Small B… Continue Reading
April 24, 2020
Brown, Schumer, And Cardin Call On SBA Inspector General To Investigate Reports That Some Paycheck Protection Program Lenders Have Prioritized Larger, Wealthier Clients Over Hard-Hit Small Businesses In Urgent Need
Washington, D.C.— U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Senate Democratic Leader Chuck Schumer (D-NY), and Ben Cardin (D-MD), Ranking Member of U.S. Senate Committee on Small Business and Entrepreneurship, yesterday sent a letter to U.S. Small Business Administration (SBA) Inspector General Mike Ware, calling for the immediate investigation of reports that some lenders participating in the SBA’s Paycheck Protect… Continue Reading
April 23, 2020
BROWN URGES FINANCIAL REGULATORS TO ENSURE THAT TEMPORARY SUSPENSIONS OF IMPORTANT FINANCIAL PROTECTIONS DO NOT TURN INTO PERMANENT ROLLBACKS
WASHINGTON, D.C. -- 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 the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) urging regulators that temporary changes to financial safeguards that have long-been on industry wish lists should not become permanent. Senator Brown in his l… Continue Reading
April 21, 2020
BROWN SUPPORTS INTERIM CORONAVIRUS SPENDING PACKAGE TO BOOST FUNDING FOR SMALL BUSINESSES, HOSPITALS AND TESTING CAPACITY
WASHINGTON, DC - U.S. Senator Sherrod Brown (D-OH) today supported the Senate bill to provide additional funding for small businesses, hospitals and increased testing capacity. The bill was passed by unanimous consent and is expected to pass the House of Representatives this week. The bill provides $470 billion, including:- $310 billion for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) o This includes $60 billion for smaller lenders, including $30 … Continue Reading
April 21, 2020
Brown, Warren Proposal to Provide Immediate Relief for Consumers Amid COVID-19
Washington, D.C. - Today, 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, published a Medium post on their proposal to provide immediate relief to consumers amid the COVID-19 pandemic. They call for the next coronavirus aid package to i… Continue Reading
April 20, 2020
BROWN, SENATORS DEMAND TRANSPARENCY IN FEDERAL RESERVE’S CORPORATE DEBT PURCHASES
WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH) today joined Senate colleagues in calling for transparency in the Federal Reserve’s (“Fed”) efforts to sustain our financial markets during the coronavirus pandemic. Specifically, the Senators urged the Fed to disclose the terms and criteria guiding corporate debt purchases, which will be executed by BlackRock, the world’s largest asset manager, and detailed transaction information. The Senators also called on Fed Chair Jerome H. Powell… Continue Reading
April 20, 2020
Brown, Senate Dems Push Trump Administration To Prioritize Workers In CARES Act Funding Allocations
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Banking Committee members Sen. Jack Reed (D-RI), Sen. Elizabeth Warren (D-MA), Sen. Brian Schatz (D-HI), and Sen. Tina Smith (D-MN) today sent a letter to Treasury Secretary Steven Mnuchin urging the Trump Administration to prioritize workers in CARES Act stimulus lending. Specifically, the lawmakers are calling for Secretary Mnuchin to use his authority to require all t… Continue Reading
April 18, 2020
Brown, Van Hollen, Warren, Schumer Urge Fed to Fix Rules That Block City, County Governments from Receiving DIRECT COVID-19 Relief
WASHINGTON - U.S. Senators Sherrod Brown (D-Ohio), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass), and Chuck Schumer (D-N.Y.) have sent a letter to Federal Reserve (Fed) Chairman Jerome Powell expressing serious concern with the arbitrary population thresholds used to determine eligibility for cities and counties to receive relief under the newly created Municipal Liquidity Facility program. The Senators urged Chairman Powell to expand eligibility for the program, which was authorize… Continue Reading
April 17, 2020
Brown, Booker Urge Banks to Temporarily Ban Burdensome Overdraft Fees
WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH) and Cory Booker (D-NJ) today urged more than a dozen bank CEOs to temporarily ban charging customers burdensome bank overdraft fees during the coronavirus emergency. Banks charge such fees to consumers when they make a purchase or pay a bill but don’t have sufficient funds in their account; typically the charge is $35. Such fees fall disproportionately on those who are least able to afford them.“We are writing to urge [you] to take step… Continue Reading
April 17, 2020
Brown, Senate Dems Push For Increased Transparency And Oversight Of CARES Act Funding
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Senate Democratic Leader Charles Schumer (D-NY), Sen. Chris Van Hollen (D-MD), Sen. Elizabeth Warren (D-MA), Sen. Catherine Cortez-Masto (D-NV), Sen. Brian Schatz (D-HI), and Sen. Tina Smith (D-MN) today sent a letter to Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell calling for increased oversight and transparency into how the Administration i… Continue Reading
April 16, 2020
Pressley, Harris, Meeks and Brown Lead Democratic Lawmakers In Calling For Trump Administration To Ensure That Minority-Owned Small Businesses Are Not Shut Out Of Funding From Paycheck Protection Program
Representatives Ayanna Pressley (D-MA-07) and Gregory Meeks (D-NY-05) and Senators Kamala D. Harris (D-CA) and Sherrod Brown (D-OH) today led Democratic lawmakers in calling for the Small Business Administration (SBA) and Treasury Department to ensure that minority-owned businesses are not shut out of the Paycheck Protection Program (PPP). The lawmakers also called for the Administration to amend guidance on PPP, to reaffirm lending institutions’ obligation to comply with fair lending law… Continue Reading
April 16, 2020
Brown Blasts CFPB For Finalizing Rule That Will Make Homeowners More Vulnerable to Discrimination
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 following news that the Consumer Financial Protection Bureau (CFPB) issued a final rule that will give lenders a pass on reporting mortgage data this is critical to protecting all borrowers, especially borrowers of color, from discrimination in the mortgage market:“At a time when millions of people are facing job losses a… Continue Reading
April 15, 2020
Brown, Warren Call On Banks To End The Seizure Of Stimulus Checks
U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Sen. Elizabeth Warren (D-MA), today sent letters to banks and credit unions, through their trade organizations the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Independent Community Bankers of America, National Association of Federally-Insured Credit Unions, and the Credit Union National Association, urging them to cease the seizure o… Continue Reading
