Majority Press Releases
ICYMI: Brown, Van Hollen Announce Legislation to Cap Consumer Lending Rates During COVID-19 Outbreak
WASHINGTON - U.S. Senators Sherrod Brown (D-Ohio) and Chris Van Hollen (D-Md.) announced legislation to temporarily cap consumer lending rates, also known as usury rates, at 36 percent during the COVID-19 outbreak. The Senators also urged leadership to include this cap within the phase three coronavirus emergency package. The legislation, as described in their letter below, would amend the Military Lending Act to extend to all consumers the credit protections provided to members of the A… Continue Reading
March 19, 2020
Brown Calls On Debt Collectors To Help Hard Working Americans 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 recently sent letters calling on debt collectors to alleviate the economic fallout American families are facing as a result of the Coronavirus pandemic by: suspending all collection activity, postponing or dismissing any pending court proceedings, not filing new lawsuits, ceasing to accrue interest on balances due, contacting consumers on automatic payment plans, and offering… Continue Reading
March 18, 2020
Brown Blasts FDIC For Approving New Industrial Bank Charters During Coronavirus Pandemic
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 the Federal Deposit Insurance Corporation (FDIC) approved charters for two industrial loan companies (ILCs).“Now more than ever I’m more worried about Washington’s collective amnesia; we are on the brink of another recession that will hurt hardworking families across the country. Just before the last crisis, regulators gutted financia… Continue Reading
March 18, 2020
Brown Statement On News That Fannie, Freddie Will Offer Borrower Relief
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 Fannie and Freddie would suspend foreclosures and offer borrowers relief.“Fannie Mae and Freddie Mac are doing what everyone should be doing - offering borrowers relief if they fall behind on their payments during this pandemic and giving them tools to get back on track when it’s over. Every homeowner should have the sam… Continue Reading
March 18, 2020
Brown Statement On HUD Suspending Foreclosures 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) would provide temporary relief to homeowners by suspending foreclosures on Federal Housing Administration (FHA) insured mortgages for the next 60 days. “This is a step in the right direction. I’m glad this Administration finally recognized that h… Continue Reading
March 18, 2020
SCHATZ, BROWN INTRODUCE NEW BILL TO PROTECT PEOPLE’S CREDIT SCORES, SUSPEND NEGATIVE CREDIT REPORTING DURING CORONAVIRUS OUTBREAK
WASHINGTON -U.S. Senators Brian Schatz (D-HI) and Sherrod Brown (D-OH), both members of the Senate Banking Committee, introduced new legislation to protect people’s credit scores during the coronavirus outbreak. As some families struggle with job losses or reduced incomes, they may fall behind in paying their bills. These late payments could hurt their credit for years and hold them back from accessing credit, taking out a mortgage, applying for a job, or renting an apartment long after th… Continue Reading
March 18, 2020
BROWN INTRODUCES LEGISLATION TO PROTECT WORKING FAMILIES FROM FORECLOSURE, LATE PAYMENTS DURING THE COVID-19 PANDEMIC
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs -- introduced new legislation that would protect hard-working American families who are facing financial hardship due to the economic consequences of coronavirus from falling behind on their loan or facing foreclosure.“During this pandemic individuals and hard working families should not be worried about keeping a roof over their head, they should be adhe… Continue Reading
March 18, 2020
BROWN ANNOUNCES NEW BANKING PRESS SECRETARY
WASHINGTON, D.C. — Today, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today announced Alysa James will serve as press secretary for Brown and the minority caucus of the committee, beginning this week. James most recently served as Director of African American Media for Minority Leader Chuck Schumer (D-NY).“We’re glad to have Alysa on board as Senate Democrats continue pushing for policies that put working people fi… Continue Reading
March 17, 2020
SENATORS OPPOSE HUD RULE THAT ROLLS BACK EFFORTS TO ADDRESS HOUSING DISCRIMINATION, SEGREGATION
WASHINGTON, D.C. —U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - along with 36 Senate Democratic colleagues wrote in opposition to a proposed rule by the Department Housing and Urban Development (HUD) that would roll back important efforts to make access to housing fair and equitable and fails fulfill the Fair Housing Act’s direction to affirmatively further fair housing (AFFH).“Our collective future depends on all pe… Continue Reading
March 17, 2020
BROWN DEMANDS HUD AND INDEPENDENT FINANCIAL REGULATORS CEASE NON-CORONAVIRUS RELATED RULEMAKING DURING THIS PUBLIC HEALTH EMERGENCY
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 letters to the Department of Housing and Urban Development (HUD) and independent financial regulators demanding that they suspend all rulemaking that could impede the federal response to the COVID-19 pandemic.“The COVID-19 virus threatens both the health of the public and the economy. It presents immediate challenges to real households and ever… Continue Reading
March 11, 2020
ICYMI: Brown Again Calls For FSOC Briefing As Trump Meets With Bank CEOs, Mnuchin
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - once again called on Treasury Secretary Steven Mnuchin, Chair of the Financial Stability Oversight Council (FSOC), and FSOC member agencies to schedule a meeting of the Council and brief the Senate Committee on Banking, Housing and Urban Affairs on the Council’s plan to address the threat of an economic downturn due to coronoavirus. Brown’s call follows… Continue Reading
March 11, 2020
Brown Calls On Administration to Address Federally-Assisted Housing Coronavirus Concerns
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 wrote to Vice President Mike Pence, Secretary Ben Carson and Secretary Sonny Perdue asking that the Administration and the White House Coronavirus Task Force take steps to address the health and economic concerns of millions of Americans who live in federally-assisted housing properties. Brown called on the Administration to engage with residents, owners … Continue Reading
March 10, 2020
Brown: ‘Director Kraninger Should Return the Consumer Protection Bureau to Its Core Mission: Put Consumers First.’
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: “The Consumer Financial Protection Bureau’s Semiannual Report to Congress.” Today, Brown released a report ahead of Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger’s report.The report details the ways the agency has failed to live up to its mission under Director Kraninger’s lead… Continue Reading
March 10, 2020
Brown Releases Report Outlining How CFPB Fails to Carry out Mission, Betrays Americans under Director Kraninger’s Leadership
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - and Senate Democrats on the Committee released a report today ahead of Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger’s semi-annual report to Congress. The report details the ways the agency has failed to live up to its mission under Director Kraninger’s leadership, including failing to defend the constitutionality of the CFPB, ref… Continue Reading
March 5, 2020
Brown Stands Up Against Economic, National Security Threats Posed By State-Owned & State-Supported Chinese Rail and Bus Companies
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: “Threats Posed by State-Owned and State-Supported Enterprises to Public Transportation.” Sen. Brown’s remarks, as prepared for delivery, follow:Thank you, Mr. Chairman, for calling today’s hearing on a bipartisan bill that you and I, along with Senators Cornyn and Baldwin and 48 others, suc… Continue Reading
March 4, 2020
Brown, Senate Democrats to SEC: New Rules Harm Investors and Limit Corporate Accountability
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - led a letter with Senators Jack Reed (D-RI), Brian Schatz (D-HI) and Dick Durbin (D-IL) today to the Securities and Exchange Commission (SEC) in response to proposed rules that will restrict shareholder rights and limit corporate accountability to shareholders. The Senators wrote that the proposed rules would limit the ability of small shareholders to … Continue Reading
March 4, 2020
Brown Calls for FSOC Briefing on Plans to Address Risks of Economic Downturn Due To Coronavirus
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs -called on Treasury Secretary Steven Mnuchin, Chair of the Financial Stability Oversight Council (FSOC), and FSOC member agencies to brief the Senate Committee on Banking, Housing and Urban Affairs on the Council’s plan to address the threat of an economic downturn due to coronoavirus.In the letter, the Senator highlighted FSOC’s lack of response to other… Continue Reading
March 3, 2020
Brown Statement on Fed Interest Rate Cut In Face of Coronavirus Concerns
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 released the following statement after Fed Chair Jerome Powell announced an interest rate cut amid concerns about the coronavirus.“Today, Federal Reserve Chairman Powell reminded us how our leaders should act when faced with a public health emergency and its potential economic impacts—with a steady hand, reliance on facts, and coordination with ou… Continue Reading
March 2, 2020
Brown Once Again Fights Trump Administration Efforts to Undermine Consumer Protection Agency
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 as the Supreme Court is set to hear oral arguments this week in Seila Law v. CFPB, a case to determine whether the Consumer Financial Protection Bureau (CFPB) is constitutionally structured. Brown has been a vocal champion of the CFPB since its inception and has led efforts by the Trump Administration to dismantle the co… Continue Reading
February 25, 2020
Brown Opening Statement at Banking Committee Hearing on Surface Transportation Reauthorization
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: "Surface Transportation Reauthorization: Public Transportation Stakeholders' Perspectives." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for calling this hearing. I look forward to working with you to develop a bipartisan transit title for a surface transportati… Continue Reading
