Majority Press Releases
Banking Committee Democrats Urge Chairman Shelby to Clear Nominations Backlog
WASHINGTON, D.C. - Democrats on the U.S. Senate Committee on Banking, Housing, and Urban Affairs today urged Chairman Richard Shelby to stop obstructing President Obama's nominees for critical Administration positions related to financial oversight, national security, export financing, and public transportation safety. In a letter to Chairman Shelby (R-AL), all 10 of the panel's Democrats expressed concern that the Banking Committee has not yet voted on any of the President's nominees in this Co… Continue Reading
February 11, 2016
Sen. Brown's Opening Statement at Banking Committee's 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 titled, "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" Feb. 11, 2016 Thank you, Chairman Shelby. I… Continue Reading
February 4, 2016
Brown Urges Fed to Curb Big Banks' Commodity Trading
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 Federal Reserve to propose rules to address the risks posed by Wall Street banks' involvement in physical commodities. In a letter to Federal Reserve Chair Janet Yellen, Brown said the Federal Reserve's Board of Governors has so far "failed" to fulfill its commitment to impose new rules to rein in banks' trading of physical commodities and … Continue Reading
January 21, 2016
Brown Commends Extension of Exam Cycles for Small Banks
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 commended federal regulators for taking swift action to reduce the regulatory burden for small banks. The new rule allows well-managed banks with up to $1 billion in assets to qualify for an on-site exam cycle of 18 rather than 12 months. The previous threshold was $500 million. The provision was one of several bipartisan measures included in last year's… Continue Reading
January 12, 2016
Brown Praises Defeat of Bid to Undermine the Federal Reserve's Independence and Inject Politics into Monetary Policy
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 praised the Senate's action to defeat an attempt to politicize the Federal Reserve's monetary policy deliberations. While the Government Accountability Office, a nonpartisan and independent agency, is required to conduct regular and appropriate audits of the Fed's activities, narrow exceptions were crafted to shield the Fed from political interference in … Continue Reading
January 11, 2016
Brown: Partisan Stalling on Export-Import Bank Board Threatens U.S. Jobs
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 restore the full authority of the U.S. Export-Import Bank's board of directors. Today, Patricia M. Loui-Schmicker, a Democrat who was nominated in March of 2015, withdrew her nomination to a second term on the Ex-Im board. President Obama nominated Mark McWatters, a Republican, to another seat on the bank's board. With t… Continue Reading
October 22, 2015
Top Committee Democrats Oppose Bid to Gut Wall Street Reform Via Funding Bills
Sen. Brown, Rep. Waters Urge Congress to Reject Policy Riders Aimed at Weakening Financial and Consumer Protections WASHINGTON, D.C. - The leading Democrats on the Senate Banking and House Financial Services Committees today voiced their strong objections to Republican efforts to use must-pass government funding legislation to repeal, undermine, or delay financial reforms and consumer protections. In a letter to Congressional leaders, Sen. Sherrod Brown (D-OH) and Rep. Maxine Waters (D-CA) sai… Continue Reading
October 1, 2015
Brown Opening Statement at Markup of Bill to End Crude Oil Export Ban
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 markup of legislation that would lift the ban on U.S. exports of crude oil. Brown's remarks, as prepared for delivery, follow. Sen. Sherrod Brown - Opening Statement Markup of Bill to Lift Crude Oil Export Ban Oct. 1, 2015 Thank you, Mr. Chairman. Today we'll act on a bill to… Continue Reading
September 29, 2015
Sen. Brown Opening Statement at Banking Committee's Hearing on FDIC, Treasury 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 Adewale Adeyemo to be an Assistant Secretary for International Markets and Development, U.S. Department of the Treasury; Amias Moore Gerety to be an Assistant Secretary for Financial Institutions, U.S. Department of the Treasury; and Jay Neal Lerner to b… Continue Reading
September 17, 2015
Sen. Brown Opening Statement at Banking Committee's Hearing on 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 opening statement, as prepared for delivery, at today's hearing on the nomination of Adam J. Szubin to be Under Secretary for Terrorism and Financial Crimes, U.S. Department of the Treasury. Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Nomination Hearing: "Adam J. Szubin to be Under Secr… Continue Reading
August 5, 2015
Brown Applauds SEC Approval of CEO Pay-Ratio Disclosure
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 today after the Securities and Exchange Commission approved a final rule requiring publicly-traded companies to disclose the pay gap between chief executives and their workers. The rule was mandated by the Dodd-Frank Wall Street Reform Act of 2010. "For decades, CEOs' pay packages have soared to astronomical heights while the a… Continue Reading
August 5, 2015
Sen. Brown Opening Statement at Banking Committee's Hearing on the Implications of Sanctions Relief Under the Iran 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 titled, "The Implications of Sanctions Relief Under the Iran Agreement." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "The Implications of Sanctions Relief Under the Iran Agreement" August 5, 2015 Thank you, Mr. … Continue Reading
July 28, 2015
Sen. Brown Opening Statement at Banking Committee's Hearing on Lifting the Crude Oil Export Ban
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 titled, "Lifting the Crude Oil Export Ban." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "Lifting the Crude Oil Export Ban" July 28, 2015 Thank you, Mr. Chairman, for holding today's hearing, and to Senator Murkow… Continue Reading
July 23, 2015
Brown Restores Millions for Transit Funding in Transportation Bill
WASHINGTON, D.C. - As the Senate debates a transportation bill this week, U.S. Sen. Sherrod Brown (D-OH) led a successful push to restore funding to public transportation, quadrupling new spending from what was first proposed. In its original form, the transportation bill would have steered $3.2 billion in new revenue to roads and $200 million to transit, shortchanging Ohio commuters who depend on public transportation. Brown rallied Senate Democrats to urge the Republican majority to increase … Continue Reading
July 23, 2015
Sen. Brown Opening Statement at Banking Committee's Hearing on U.S. Bank Holding 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 - released the following opening statement, as prepared for delivery, at today's hearing titled, "Measuring the Systemic Importance of U.S. Bank Holding Companies." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "Measuring the Systemic Importance of U.S. Bank Holding Companies" July 23, 2015 Thank you, … Continue Reading
July 20, 2015
Brown Statement on Nomination of Kathryn M. Dominguez to Board of Governors of the Federal Reserve System
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 President Obama announced his intention to nominate Dr. Kathryn M. Dominguez to the Board of Governors of the Federal Reserve System. "Dr. Dominguez has a distinguished academic record. I look forward to hearing her views on how the Federal Reserve can continue to maintain and strengthen the policies that have stabi… Continue Reading
July 20, 2015
In Advance of Tomorrow's Five Year Anniversary, Brown Applauds Enactment of Wall Street Reform
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 this week's fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. "Five years after Wall Street reform became law, our economy is getting stronger and we have a financial system that is safer, more stable, and works better for taxpayers, investors, and consumers," said Brown. "We've come t… Continue Reading
July 16, 2015
Sen. Brown Opening Statement at Banking Committee's Hearing on Semiannual Monetary Policy 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 titled, "The Semiannual Monetary Policy Report to the Congress." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "The Semiannual Monetary Policy Report to the Congress" July 16, 2015 Thank you, Chairman Shelby. And… Continue Reading
July 15, 2015
Sen. 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 Statement Hearing: "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress" July 15, 2015 … Continue Reading
July 8, 2015
Sen. Brown Opening Statement at Banking Committee's Hearing on the Financial Stability Board
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 "The Role of the Financial Stability Board in the U.S. Regulatory Framework." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "The Role of the Financial Stability Board in the U.S. Regulatory Framework." July … Continue Reading
