Majority Press Releases
Brown Statement on Trump's Nominee for Key Wall Street Watchdog
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - issued the following statement regarding President Trump's intention to nominate former OneWest Bank CEO Joseph Otting to lead the Office of the Comptroller of the Currency, a key Wall Street watchdog. "The President's choice for watchdog of America's largest banks is someone who signed a consent order - over shady foreclosure practices - with the very agency he's bee… Continue Reading
June 6, 2017
Brown Statement at Hearing on CEA, HUD Nominees
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - issued the following opening statement at today's Banking Committee hearing on the nominations of Kevin Hassett for Chairman of the Council of Economic Advisers, and Pamela Patenaude for Deputy Secretary of Housing and Urban Development. Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: CEA, HUD NomineesJune … Continue Reading
May 30, 2017
Brown Renews Request for Treasury to Assess Trump's Global Business Contacts
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) today renewed his request for the U.S. Treasury Department to assess whether President Trump, the Trump Organization, and his family's business associates from Russia and other countries may have violated U.S. anti-terrorist financing, sanctions, and money laundering laws. Brown once again asked Treasury Secretary Steven Mnuchin whether he has requested or received from Trump and his family a complete list of their investors and business partner… Continue Reading
May 23, 2017
Brown Statement at Committee Vote on Treasury, Commerce Nominees
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - issued the following opening statement at today's Banking Committee executive session on four nominations for key national security roles in the U.S. Treasury and Commerce Departments. The nominees are Sigal Mandelker to be Treasury Under Secretary for Terrorism and Financial Crimes; Marshall Billingslea to be Assistant Treasury Secretary for Terrorist Financi… Continue Reading
May 18, 2017
Brown Opening Statement at Treasury Secretary Mnuchin's First Banking Committee Hearing
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 with U.S. Treasury Secretary Steven Mnuchin entitled, "Domestic and International Policy Update." The hearing marks Mnuchin's first testimony before the Banking Committee. Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Domestic and International … Continue Reading
May 16, 2017
Brown, Wyden Ask GAO to Examine Oversight of Foreign Investors in U.S. Real Estate
WASHINGTON, D.C. - To ensure national security implications of foreign real estate investments are being fully considered, Senate Banking Committee Ranking Member Sherrod Brown, D-Ohio, together with Sen. Ron Wyden, D-Ore., ranking member on the Senate Finance Committee, and Sen. Claire McCaskill, D-Mo., ranking member on the Homeland Security and Government Affairs Committee, today requested that the Government Accountability Office investigate how the Committee on Foreign Investment in the Uni… Continue Reading
May 16, 2017
Brown Statement on GOP Leader McConnell's Call to Gut Wall Street Reform
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - today issued the following statement regarding Senate Majority Leader Mitch McConnell's (R-KY) comments that Democrats are blocking efforts to dismantle the Dodd-Frank Wall Street reform law. "The Senate Republican leader seems to have forgotten the harm Wall Street's greed and reckless behavior caused to millions of working families and taxpayers who were forced to c… Continue Reading
May 16, 2017
Brown Opening Statement at Hearing on Treasury, Commerce Nominees
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 four nominations for key national security roles in the U.S. Treasury and Commerce Departments. The nominees are Sigal Mandelker to be Treasury Under Secretary for Terrorism and Financial Crimes; Marshall Billingslea to be Assistant Treasury Secretary for Terrorist Financing; Heath Tarbert to be Tre… Continue Reading
May 11, 2017
Brown Statement at Housing Finance Hearing
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 entitled, "The Status of the Housing Finance System After Nine Years of Conservatorship." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "The Status of the Housing Finance System After Nine Years of Conservatorship"May 11, 2017 Thank you, Chairm… Continue Reading
May 4, 2017
Brown Opening Statement at Hearing on National Flood Insurance Program
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, as prepared for delivery, at today's hearing entitled, "Reauthorization of the National Flood Insurance Program, Part II." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Reauthorization of the National Flood Insurance Program, Part II" May 4, 2017 Thank you, … Continue Reading
May 3, 2017
Brown Blasts Trump's Decision to Remove Top Wall Street Watchdog
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - today issued the following statement regarding President Trump's decision to replace Comptroller of the Currency Thomas Curry as chief watchdog of the nation's largest banks. The President's decision to name an acting appointee to lead the Office of the Comptroller of the Currency comes as the Administration seeks to dismantle key Wall Street reforms enacted after the … Continue Reading
May 2, 2017
Brown Takes Senate Floor to Oppose SEC Nominee Clayton
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - today took to the Senate floor to oppose Jay Clayton's nomination as chairman of the Securities and Exchange Commission, emphasizing the need for a strong, independent watchdog to police Wall Street. Brown noted that Clayton faces a host of conflicts of interest due to the long list of giant banks and corporations that he has represented as one of Wall Street's top la… Continue Reading
May 2, 2017
Brown Statement on House Bill to Dismantle Wall Street Reform
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - today issued the following statement as the House Financial Services Committee marked up Chairman Jeb Hensarling's (R-TX) sprawling bill that would dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act. The legislation would gut the Consumer Financial Protection Bureau, which has returned almost $12 billion to 29 million Americans who have been cheate… Continue Reading
May 2, 2017
Brown Opening Statement at Hearing on U.S.-EU Covered Agreement on Insurance Rules
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 committee hearing entitled, "Examining the U.S. - EU Covered Agreement." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Examining the U.S. - EU Covered Agreement"May 2, 2017 Thank you, Mr. Chairman, for holding today's hearing and thank you to our witn… Continue Reading
May 1, 2017
Brown Statement on Supreme Court Ruling Miami's Predatory Lending Case Against Wells Fargo, Bank of America
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - issued the following statement regarding the Supreme Court's ruling today that cities can bring lawsuits against banks for alleged discriminatory mortgage lending practices under the Fair Housing Act. In its 5-3 decision, the court ruled that the city of Miami has standing to sue Wells Fargo and Bank of America over claims alleging the banks' lending practices discrim… Continue Reading
April 27, 2017
Brown Opening Statement at Hearing on Russia Sanctions
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 committee hearing on "Countering Russia: Further Assessing Options for Sanctions." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Countering Russia: Further Assessing Options for Sanctions"April 27, 2017 Mr. Chairman, thank you for calling this second i… Continue Reading
April 26, 2017
Brown Statement on CFPB Action Against Ohio Auto Lender Over Debt Collection Tactics
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - issued the following statement regarding the Consumer Financial Protection Bureau's action today against an Ohio-based auto lender for failing to pay restitution it owed to military servicemembers who were allegedly harmed by illegal debt collection tactics. The CFPB fined the Security National Automotive Acceptance Company (SNAAC), based in Mason, OH, $1.25 million f… Continue Reading
April 25, 2017
Brown Statement on Wells Fargo's Board of Directors
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - issued the following statement regarding the decision by Wells Fargo's shareholders to retain the bank's board of directors in the aftermath of the company's unauthorized accounts scandal. "Wells Fargo's board failed to look out for shareholders' interests as the bank defrauded thousands of its customers over many years. The board members need to bear responsibility, … Continue Reading
April 21, 2017
Brown Slams Trump Plans to Undermine Key Wall Street Reforms
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee, and a member of the Finance Committee - issued the following statement today after news reports that President Trump plans to issue executive orders aimed at dismantling key Wall Street reforms enacted after the 2008 financial crisis, and take steps toward rolling back crackdowns on corporate tax loopholes. "After the 2008 financial crisis almost destroyed our economy,… Continue Reading
April 20, 2017
Brown Statement on CFPB Action Against Ocwen Financial for Failing Homeowners
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - issued the following statement regarding today's action by the Consumer Financial Protection Bureau and state regulators against Ocwen Financial Corp. The CFPB alleges that Ocwen, one of the nation's largest nonbank mortgage servicers, for years "engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process," according to the bu… Continue Reading
