Majority Press Releases

September 13, 2016

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 on the "The National Flood Insurance Program: Reviewing the Recommendations of the Technical Mapping Advisory Council's 2015 Annual Report." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "The National Flood Insurance P… Continue Reading


September 8, 2016

Brown Commends U.S. Banking Agencies for Urging Congress to Curb Wall Street's Ownership of Physical Commodities

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 applauded U.S. banking agencies for urging Congress to limit Wall Street's investments in merchant banking and physical commodities. The Federal Reserve, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation outlined the recommendations in a report required by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Ac… Continue Reading


July 29, 2016

Brown Statement on CFPB Efforts to Rein in Debt Collectors

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 on the Consumer Financial Protection Bureau's initial outline of proposed rules to rein in debt collectors. In 2015, the CFPB handled more than 85,200 complaints about debt collection, making it the largest source of consumer grievances among the industries the bureau oversees. "Families who are struggling to make ends me… Continue Reading


July 21, 2016

Brown Applauds CFPB's Fifth Anniversary

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 on the fifth anniversary of the Consumer Financial Protection Bureau (CFPB). The bureau was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which became law six years ago. The CFPB says its actions have resulted in $11.7 billion being returned to over 27 million wronged consumers. "The 2008 finan… Continue Reading


June 30, 2016

Brown, Waters: FSOC Decision Shows Wall Street Reform is Working

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) and U.S. Rep. Maxine Waters (D-CA) - the leading Democrats on the Senate Banking and House Financial Services Committees - issued the following statement after the U.S government removed GE Capital's designation as "systemically important" to the financial system. The Financial Stability Oversight Council (FSOC), which includes the Treasury Department and Federal Reserve, rescinded GE Capital's designation for stricter oversight after the firm ma… Continue Reading


June 23, 2016

Brown Opening Statement at Hearing on Bank Capital and Liquidity 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, as prepared for delivery, at today's hearing entitled, "Bank Capital and Liquidity Regulation, Industry Perspectives." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Bank Capital and Liquidity Regulation, Industry Perspectives" June 23, 2016 Thank you, Chair S… Continue Reading


June 21, 2016

Brown Opening Statement at Hearing on 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 - released the following opening statement, as prepared for delivery, at today's hearing on "The Semiannual Monetary Policy Report to the Congress." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement:Hearing on "The Semiannual Monetary Policy Report to the Congress"June 21, 2016 Thank you, Chairman Shelby. Chair Yell… Continue Reading


June 14, 2016

Brown Opening Statement at SEC Oversight 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, as prepared for delivery, at today's hearing entitled, "Oversight of the U.S. Securities and Exchange Commission." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Oversight of the U.S. Securities and Exchange Commission" June 14, 2016 Thank you Chairman Shelby, … Continue Reading


June 7, 2016

Brown Opening Statement at Hearing on Bank Capital and Liquidity 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, as prepared for delivery, at today's hearing entitled, "Bank Capital and Liquidity Regulation." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Bank Capital and Liquidity Regulation"June 7, 2016 Thank you, Chairman Shelby, for holding today's hearing, and I thank… Continue Reading


May 25, 2016

Brown Opening Statement at Hearing on Oversight of the Iran Nuclear Agreement and 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, as prepared for delivery, at today's hearing entitled, "Understanding the Role of Sanctions Under the Iran Deal: Administration Perspectives." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Understanding the Role of Sanctions Under the Iran Deal: Administration Pe… Continue Reading


May 24, 2016

Brown Opening Statement at Hearing on Sanctions and the Iran Nuclear Agreement

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, "Understanding the Role of Sanctions Under the Iran Deal." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Understanding the Role of Sanctions Under the Iran Deal"May 24, 2016 Thank you, Mr. Chairman. For the … Continue Reading


May 23, 2016

Brown Urges Oversight of Shadow Banking Risks

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 called on the Financial Stability Oversight Council (FSOC) to outline its efforts to address risks in the "shadow banking" sector that could threaten financial stability. In a letter to U.S. Treasury Secretary Jacob Lew, Brown emphasized that a central cause of the 2008 financial crisis was the failure, or near failure, of nonbank financial institutions … Continue Reading


May 19, 2016

Brown Continues Push to Clear Banking Committee's Nominations Backlog

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 urged Senate Republican leaders to clear the growing backlog of key financial oversight, trade, and national security nominations. Brown's push followed the Banking Committee's approval today of five of the 20 executive nominations that the panel has received since January 2015: Lisa M. Fairfax and Hester M. Peirce to be Members of the Securities and E… Continue Reading


May 17, 2016

Brown Presses for Vote to Restore Export-Import Bank to Full Strength

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 urged his Republican colleagues to act without further delay to restore the full authority of the U.S. Export-Import Bank's board of directors. Brown met this afternoon with Mark McWatters, a Republican who was nominated in January at the suggestion of Senate Majority Leader Mitch McConnell (R-KY) to fill a vacancy on Ex-Im's board. With three empty seat… Continue Reading


April 7, 2016

ICYMI: Public Interest Advocates Praise CFPB's Success in Protecting Consumers

WASHINGTON, D.C. - As the Senate Banking Committee holds hearings this week on the Consumer Financial Protection Bureau, several public interest groups highlighted the bureau's achievements to rein in abusive practices that hurt American families, communities, and the economy. The groups urged the Banking Committee and Congress to resist Republican efforts to undermine or abolish the CFPB, which has secured more than $11 billion in relief to more than 25 million wronged consumers. Before the Ba… Continue Reading


April 7, 2016

Brown Opening Statement at Hearing on CFPB 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 - released the following opening statement, as prepared for delivery, at today's hearing on the Consumer Financial Protection Bureau's semi-annual report to Congress. Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress"April 7, 2016 Thank… Continue Reading


April 5, 2016

Sen. Brown Opening Statement at Banking Committee's Hearing on Consumer Finance Regulation

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, "Assessing the Effects of Consumer Finance Regulations." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Assessing the Effects of Consumer Finance Regulations"April 5, 2016 Thank you, Chairman Shelby for holdi… Continue Reading


March 15, 2016

Sen. Brown Opening Statement at Banking Committee's Hearing on SEC, U.S. Mint Nominations

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 on the nominations of Lisa M. Fairfax to be a Member of the Securities and Exchange Commission, Hester M. Peirce to be a Member of the Securities and Exchange Commission, and Matthew Rhett Jeppson to be Director of the U.S. Mint. Brown's remarks, as prepared for delivery, fo… Continue Reading


March 15, 2016

Senate Banking Committee’s Stalling on Nominations Unprecedented Since 2001

The Senate Banking Committee has acted on just one of the 19 nominees it has received since the start of 2015, a record of obstruction that is unparalleled over the last 15 years. The following spreadsheets show actions on Banking Committee nominees since 2001. The tables list the names, positions, and agencies for each nominee, as well as the status of the nominations at each stage of the confirmation process, according to the Legislative Information Service. Status of Banking Committee Nomin… Continue Reading


March 10, 2016

Brown Statement on Banking Committee's Approval of Treasury Nominee for Counterterrorism Post

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 after the committee approved Adam J. Szubin's nomination to be the U.S. Treasury Department's Under Secretary for Terrorism and Financial Crimes. Szubin's nomination now goes to the full Senate for a confirmation vote. "Adam Szubin has proven to be a tough and effective enforcer of U.S. sanctions and terrorism financing laws ag… Continue Reading

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