Majority Press Releases
JOHNSON OPENING STATEMENT ON WALL STREET REFORM OVERSIGHT AND DATA SECURITY
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Oversight of Financial Stability and Data Security." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Today, the Committee continues its oversight of the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. There has been good progress since our last hearing, including the completion of the long-awaited "Volcker Rule". I… Continue Reading
February 5, 2014
JOHNSON, CRAPO CONTINUE WORK ON HOUSING FINANCE REFORM
Washington, DC - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) issued the following statement regarding their bipartisan effort to draft comprehensive housing finance reform. "With the hearing and information-gathering stage behind us, our hard work continues as we dive deep into the drafting and negotiating phase of Housing Finance Reform. Our goal from the start has been to produce the strongest bipartisan bill possible-a bill that will st… Continue Reading
January 28, 2014
JOHNSON HOLDS HEARING ON THE EXPORT-IMPORT BANK
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Oversight and Reauthorization of the Export-Import Bank of the United States." The Ex-Im Bank supports billions in exports, creates and supports hundreds of thousands of American jobs and often turns a profit for the taxpayer. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Today, the Committee again welcomes the Chairman and President of the Expo… Continue Reading
January 16, 2014
JOHNSON REVIEWS PUBLIC TRANSPORTATION UNDER SURFACE TRANSPORTATION LAW
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Progress Report on Public Transportation under MAP-21." Below is Chairman Johnson's statement as prepared for delivery: "This hearing will come to order. Today the Banking Committee seeks to review how public transportation and the federal programs that assist our nation's transit providers have advanced since the current surface transportation law, MAP-21, was enacted in 2012. This Committee … Continue Reading
January 15, 2014
JOHNSON LAUDS VOLCKER RULE FIX
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the below statement following an announcement by financial regulators that they have approved an interim final rule to address an issue in the Volcker rule that could have forced community banks to write-down and sell collateralized debt obligations backed by Trust Preferred Securities (TruPS). "The Volcker Rule was designed to prohibit large banks from making risky proprietary trades with federally insured deposits. … Continue Reading
December 19, 2013
JOHNSON, CRAPO FILE REPORT ON FHA SOLVENCY BILL
Washington, D.C. - Banking Committee Chairman Tim Johnson and Ranking Member Mike Crapo today issued the following remarks after filing the report on the Federal Housing Administration (FHA) Solvency Act of 2013 (S. 1376). According to the Congressional Budget Office, the bill would reduce federal discretionary spending by more than $500 million over a five-year period of time while forcing the FHA to build up to a 3 percent capital ratio. Last week, the FHA released its independent financial … Continue Reading
December 19, 2013
JOHNSON FLOOR STATEMENT CALLING ON THE SENATE TO CONFIRM JANET YELLEN TO HEAD FEDERAL RESERVE
WASHINGTON - This morning, Senate Banking Committee Chairman Tim Johnson (D-SD) took to the Senate Floor to call on his colleagues to confirm Dr. Janet Yellen to be Chair of the Federal Reserve. Below are Chairman Johnson's remarks as prepared for delivery. "Mr. President, I rise to speak in support of Dr. Janet Yellen to be Chair of the Board of Governors of the Federal Reserve System. "As we continue to recover from the worst economic crisis since the Great Depression, we need a st… Continue Reading
December 17, 2013
CHAIRMAN JOHNSON COMMENTS ON VOLCKER RULE
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement after financial regulators approved the "Volcker Rule," a Wall Street Reform provision that bans proprietary trading by banks. "Today's approval of the final Volcker Rule is a key milestone in the full implementation of Wall Street Reform and these trading restrictions will help improve the integrity of our banking system. I commend all the individuals involved in this monumental effort for the… Continue Reading
December 17, 2013
JOHNSON’S KEYNOTE ADDRESS AT BPC HOUSING FINANCE REFORM EVENT
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) today gave the closing remarks at the Bipartisan Policy Committee's event titled "A Forum on the Role of Private Capital in a Reformed Housing Finance System." Below are Chairman Johnson's remarks as prepared for delivery: "Thank you for that kind introduction. It is good to be with all of you today. "I want to thank the Bipartisan Policy Center for hosting this event. The BPC has done great work elevating the issue of… Continue Reading
December 17, 2013
JOHNSON OPENING STATEMENT AT KUMAR NOMINATION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a nomination hearing for the consideration of Arun M. Kumar to be Assistant Secretary and Director General of the United States and Foreign Commercial Service, U.S. Department of Commerce. A vote on the nominee will be scheduled for a later date. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Good Morning. Today we consider Mr. Arun Kumar to be Assistant Secr… Continue Reading
December 12, 2013
JOHNSON OPENING STATEMENT AT HEARING EXPLORING BILATERAL NUCLEAR AGREEMENT WITH IRAN
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Assessing the P5+1 Interim Nuclear Agreement with Iran: Administration Perspectives." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Yesterday, all Senators had a chance to hear directly from Secretaries Lew and Kerry and senior intelligence officials on the first step nuclear agreement reached in Geneva between the P5+1 and Iran. Today we will d… Continue Reading
December 10, 2013
JOHNSON ON RISK SHARING IN HOUSING FINANCE MARKET
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Fundamentals of Transferring Credit Risk in a Future Housing Finance System." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "This hearing is the last in our in-depth series of policy hearings to explore the benefits and challenges of reforming the housing finance system. At the urging of Committee Members and with the… Continue Reading
December 10, 2013
JOHNSON STATEMENT ON MEL WATT VOTE
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) today released the following statement after a procedural vote passed that clears the way for Congressman Mel Watt (D-NC) to be confirmed as the Director of the Federal Housing Finance Agency (FHFA). "I congratulate Congressman Watt on a successful cloture vote this morning and look forward to the Senate quickly confirming him as the Director of the FHFA. Congressman Watt has over 40 years of experience in housing, real estate… Continue Reading
December 10, 2013
CHAIRMAN JOHNSON COMMENTS ON VOLCKER RULE
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement after financial regulators approved the "Volcker Rule," a Wall Street Reform provision that bans proprietary trading by banks. "Today's approval of the final Volcker Rule is a key milestone in the full implementation of Wall Street Reform and these trading restrictions will help improve the integrity of our banking system. I commend all the individuals involved in this monumental effort for the… Continue Reading
November 22, 2013
JOHNSON ON TRANSITIONING TO A STRONGER HOUSING FINANCE SYSTEM
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Developing a Plan for a Smooth Transition." Below is Chairman Johnson's statement as prepared for delivery: "The Committee will come to order. "Today we continue our series of hearings to better inform the Committee's efforts to reform our housing finance system. While we have spent time examining what the different components of a new system should look like, today… Continue Reading
November 21, 2013
JOHNSON ON CREATING A STRONG SECONDARY MORTGAGE MARKET REGULATOR
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Powers and Structure of a Strong Regulator." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "This hearing continues the Committee's effort to examine housing finance reform proposals. Today we will explore the current regulatory structure related to the secondary mortgage market and survey the issues related to the pro… Continue Reading
November 21, 2013
JOHNSON SUPPORTS JANET YELLEN TO SERVE AS CHAIR OF THE FED
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held an Executive Session to consider the nomination of Janet Yellen to be Chairman of the Federal Reserve. Below is Chairman Johnson's statement as prepared for delivery: "I call the Committee to order. "We have a quorum present, so we will move to executive session to consider the nomination of the Honorable Janet Yellen to be Chairman of the Board of Governors of the Federal Reserve System for a term of four … Continue Reading
November 14, 2013
JOHNSON OPENING STATEMENT AT JANET YELLEN’S NOMINATION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to consider the nomination of the Honorable Janet Yellen to be the Chairman of the Federal Reserve. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Today we consider the nomination of the Honorable Janet Yellen to be Chair of the Board of Governors of the Federal Reserve System for a term of four years. "Dr. Yellen is an extraordinary candidate t… Continue Reading
November 12, 2013
JOHNSON LAUDS MASSAD NOMINATION FOR CFTC
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement on the nomination of Timothy Massad to be the next Chairman of the Commodity Futures Trading Commission. "Mr. Massad is an excellent selection to serve as the next Chairman of the CFTC. Through his work at the Treasury Department and the Congressional Oversight Panel, Mr. Massad has earned a solid reputation for protecting the American taxpayer. He is exactly the type of leader the CFTC needs as the Commis… Continue Reading
November 12, 2013
JOHNSON ON CFPB’S SEMI-ANNUAL REPORT TO CONGRESS
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Director Cordray, welcome back to the committee and congratulations on your Senate confirmation. We are here today to continue our regular oversight of the CFPB, giving this Committee another opportunity to review the im… Continue Reading
