Majority Press Releases
Brown Statement on President Trump's Housing Finance Executive Order
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 President Trump’s Executive Order on Housing Finance. “The President says that he will make ‘sustainable home ownership for American families our benchmark of success,’ and I hope he means it. But this White House has a history of saying the right things and then taking actions that hurt workers and fam… Continue Reading
March 27, 2019
Brown Opening Statement at Hearing on the Chairman's Housing Reform Outline: Part Two
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 “Chairman’s Housing Reform Outline: Part 2”. Thank you, Mr. Chairman, and thank you to all of our witnesses for being here today. As I said yesterday, housing is simply unaffordable for far too many Americans. They can’t make rent without working two jobs, let alone save enough to ge… Continue Reading
March 26, 2019
Brown Opening Statement at Hearing on the Chairman's Housing Reform Outline: Part One
Thank you, Chairman Crapo, and thank you to all of the witnesses for being here today. I have long said that the “housing” part of this Committee’s name doesn’t get enough attention, and I look forward to the next two days of discussions and to working with the Chairman to address our nation’s housing needs. Whether you rent it or own it, a house isn’t just where you live. One of the best books about housing is Matthew Desmond’s book Evicted, and couple of years ago, he wr… Continue Reading
March 25, 2019
Senators Warren and Brown Call on OCC, CFPB to Fire Wells Fargo CEO Tim Sloan, Renew Call for Fed Action
In Case You Missed It:Senators Warren and Brown Call on OCC, CFPB to Fire Wells Fargo CEO Tim Sloan, Renew Call for Fed ActionSenators' Letters to Fed, OCC, and CFPB Follow Two More Scandals at Bank Under Sloan's LeadershipLetter to Fed Board (PDF) | Letter to OCC and CFPB (PDF)Washington, DC - Last week, United States Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection, and U… Continue Reading
March 12, 2019
Brown Opening Statement at Banking Committee Hearing on The CFPB's Semi-Annual Report to Congress
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’s Semi-Annual Report to Congress”. Sen. Brown’s remarks, as prepared for delivery, follow: We created the Consumer Financial Protection Bureau to crack down on Wall Street predators and shady lenders that prey on hardworking families. Wall Str… Continue Reading
March 12, 2019
Brown Opening Statement at Banking Committee Executive Session
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 Executive Session.Sen. Brown’s remarks, as prepared for delivery, follow: Thank you Chairman Crapo, and welcome to our witnesses. Thank you, Mr. Chairman. This morning the Committee will vote on three nominations that were reported favorably last Congress. I plan to support each of the nominees again… Continue Reading
March 8, 2019
Brown Statement on Federal Reserve's Vote Against Big Bank Safeguards
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 on The Federal Reserve’s decision to keep the countercyclical capital buffer at its current level of zero. The countercyclical capital buffer requires big banks to set aside extra capital to absorb potential loan losses in the event of an economic downturn.“I’m disappointed with the Fed’s decision to not raise the counter… Continue Reading
March 8, 2019
Brown Slams Trump Regulators Attemps To Weaken the Volcker Rule
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 on federal bank regulator’s decisions to potentially redo a rewrite of the Volcker Rule.“It’s no surprise that when Wall Street banks complained that the proposed rewrite of the Volcker Rule wasn’t weak enough, Trump regulators went to work watering it down further,” said Brown. “It is sad to see critical Wall Street Refo… Continue Reading
March 8, 2019
Brown Statement on FSOC's Proposed Changes to Nonbank SIFI Designation
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 on the Financial Stability Oversight Council’s (FSOC) proposed interpretive guidance for nonbank SIFI designations.“The steps taken by Secretary Mnuchin and the Financial Stability Oversight Council undermine important post-crisis financial safeguards,” said Brown. “The new proposal ignores the damage done to our financia… Continue Reading
February 28, 2019
Brown Opening Statement at Banking Committee Hearing on Capital Formation and Corporate Governance
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 “Legislative Proposals on Capital Formation and Corporate Governance”. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you Chairman Crapo, and welcome to our witnesses. Today’s hearing allows Committee Members to discuss legislation they worked on in the last Congress.… Continue Reading
February 26, 2019
Brown Opening Statement at Banking Committee Hearing on The Federal Reserve's Semiannual Monetary Policy Report
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 Semiannual Monetary Policy Report to Congress”. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. I also want to thank our Chief Clerk Dawn Ratliff for her service to this Committee and the public. She has been instrumental in … Continue Reading
February 14, 2019
Brown Opening Statement at Banking Committee Hearing On Nominations to FHFA, NCUA and Treasury
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 opening statement at today’s hearing on nominations to Federal Housing Finance Agency, the National Credit Union Administration and the Department of Treasury. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Chairman Crapo, for holding this hearing today on the nominations of Mr. Bimal Patel, Mr. Todd Harper, Mr… Continue Reading
February 13, 2019
Crapo, Brown Invite Feedback on Data Privacy, Protection and Collection
WASHINGTON - United States Senate Committee on Banking, Housing and Urban Affairs Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) are inviting feedback from interested stakeholders on the collection, use and protection of sensitive information by financial regulators and private companies. “Given the exponential growth and use of data, and corresponding data breaches, it is worth examining how the Fair Credit Reporting Act should work in a digital economy, and whet… Continue Reading
February 6, 2019
Brown Slams Kraninger for Dismantling CFPB Payday Lending Rule
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 slamming Director Kraninger’s proposal to gut the CFPB’s payday lending rule. The Director plans to eliminate requirements that lenders ensure families can afford to repay their loans and that limit the number of repeat loans a lender can sell to a borrower.“Eliminating these common sense protections will result in millions of … Continue Reading
February 6, 2019
Brown Opening Statement at Banking Committee Executive Session
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 Executive Session. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. I’m pleased we will approve the committee rules, budget resolution, and subcommittee membership and jurisdiction today. I also want to welcome our new members to the Committee—Senators Smith, Sinem… Continue Reading
February 1, 2019
Brown Statement on Crapo Housing Finance Reform Outline
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 on Senate Banking Committee Chairman Mike Crapo’s housing finance outline. “I will fight to ensure that any efforts to reform the housing market start by addressing the affordability crisis that is hurting too many renters and homeowners across this country. Too often Congress and the White House have put Wall Street ahead… Continue Reading
February 1, 2019
Brown Statement on Crapo Housing Finance Reform Outline
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 on Senate Banking Committee Chairman Mike Crapo’s housing finance outline. “I will fight to ensure that any efforts to reform the housing market start by addressing the affordability crisis that is hurting too many renters and homeowners across this country. Too often Congress and the White House have put Wall Street ahead… Continue Reading
January 30, 2019
Brown Calls on Fed to Protect Taxpayers by Increasing Big Bank Capital
WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - is calling on the Federal Reserve Board Governors to use all of its prudential authorities, including the Countercyclical Capital Buffer (CCyB) for the biggest banks, to strengthen the resiliency of the financial system and protect working families from the next economic downturn. “These systemic vulnerabilities are becoming more apparent. At a time wh… Continue Reading
January 25, 2019
Waters and Brown Call on Otting to Detail His Plans for FHFA
WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Joseph Otting, Comptroller of the Currency, following President Trump’s appointment of Otting to serve as Acting Director of the Federal Housing Finance Agency (FHFA). Chairwoman Waters and Ranking Member Brown emphasized the Government Sponsor… Continue Reading
January 18, 2019
Brown Slams CFPB For Failing To Protect Servicemembers
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 opposing the Consumer Financial Protection Bureau’s (CFPB) failure to monitor financial services institutions for violations of the Military Lending Act (MLA). “The CFPB is neglecting its duty to protect the women and men who serve and protect our country. The CFPB has broad authorities - Congress does not need to take a… Continue Reading
