Majority Press Releases

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


October 11, 2023

Statement: Brown on Additional Action Needed to Support Israel

Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement: “Congress’s priority right now must be providing robust military, economic, and humanitarian aid to support Israel as they defend themselves against Hamas’s horrific terrorist attack. We must also confirm key national security nominees who play a critical role in working with their Israeli partners,” said Brown. “While we undertake this work, the B… Continue Reading


October 11, 2023

Brown Hails Junk Fee Crackdown

Today, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) announced new actions against companies charging consumers junk fees. “These fees are just another way for big banks and big companies to hide their true prices and charge Americans more. By cracking down on junk fees, the CFPB is keeping money in Americans’ bank accounts,… Continue Reading


October 10, 2023

Brown Statement on the Ongoing Situation in Israel

Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement on the ongoing situation in Israel.  “I want to be clear: Israel has the right to exist and the right to self-defense. I will keep working in a bipartisan way to ensure that Israel has the resources to defend itself and that the United States is doing everything we can to support our ally. I am speaking with my colleagues, the administration, the Is… Continue Reading


October 4, 2023

Brown Raises Concerns About Wells Fargo’s Unfair Labor Practices

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, raised concerns about unfair labor practices at Wells Fargo to Acting Comptroller Michael Hsu and Federal Reserve Vice Chair Michael Barr. In his letter, Brown cites that over the past year, employees at several Wells Fargo branches have filed Unfair Labor Practice charges with the National Labor Relations Board. Additionally, employees at Wells Fargo who tried to… Continue Reading


October 3, 2023

Brown Issues Statement Ahead of Supreme Court Oral Arguments in Case that Threatens the Foundation of the CFPB

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement ahead of Supreme Court oral arguments in the case of Consumers Financial Protection Bureau v. Community Financial Services Association of America, a case which threatens the foundation of the Consumer Financial Protection Bureau and other similarly independent funded agencies: “We created the Consumer Financial Protection Bureau t… Continue Reading


September 29, 2023

Brown Announces Big Bank Oversight Hearing

Today, U.S. Sen. Sherrod Brown (D-OH), Chair of the Senate Banking, Housing, and Urban Affairs Committee, announced that the committee will hold its annual hearing to conduct oversight of the nation’s largest banks. The participating CEOs are from the eight Global Systemically Important Banks (G-SIBs) headquartered in the U.S.: JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs, Bank of New York Mellon, Morgan Stanley, State Street, and Wells Fargo. The hearing is scheduled for Wednesday… Continue Reading


September 27, 2023

Brown Advances Bipartisan SAFER Banking Act

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, held a legislative markup on the SAFER Banking Act. The SAFER Banking Act passed out of committee by a vote of 14-9. Sen. Brown’s remarks, as prepared for delivery follow: Today we will mark up the bipartisan legislation: S. 2860, the Secure And Fair Enforcement Regulation Banking Act [SAFER Banking Act]. I want to thank Senators Merkley and Daines for all the… Continue Reading

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