Majority Press Releases
JOHNSON OPENING STATEMENT ON MF GLOBAL HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing entitled "The Collapse of MF Global: Lessons Learned and Policy Implications." The Committee examined the policy questions raised by the collapse of MF Global, and discussed ways to improve regulatory oversight and better protect customer funds in the future. Below is Chairman Johnson's statement as prepared for delivery: "Today's hearing will examine the lessons learned from the collapse of MF Globa… Continue Reading
April 17, 2012
JOHNSON STATEMENT ON EXPORT-IMPORT BANK REAUTHORIZATION
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the need to reauthorize the Export-Import Bank of the United States, which supports 290,000 American jobs by helping finance the export of U.S. goods and services. The Committee heard from representatives of the U.S. Chamber of Commerce, the National Association of Manufacturers, the Small Business Exporters Association, and the International Association of Machinists and Aerospace Workers, and discussed t… Continue Reading
April 11, 2012
JOHNSON WELCOMES CFPB DIRECTOR RICH CORDRAY TO SOUTH DAKOTA
Director Cordray unveils "Know Before You Owe" student loan project to South Dakota students SIOUX FALLS, SD - Today, U.S. Senator Tim Johnson (D-SD) welcomed the Director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, to Sioux Falls. Director Cordray traveled to South Dakota at the invitation of Senator Johnson who is the Chairman of the Senate Banking Committee. While in South Dakota, Director Cordray unveiled a national initiative aimed at helping families understa… Continue Reading
April 2, 2012
CHAIRMAN JOHNSON SPEARHEADS LETTER TO FHFA ON REFINANCING PROPOSALS
Senators offer suggestions solicited by Acting Director DeMarco WASHINGTON - Late Friday, Senate Banking Committee Democrats, led by Chairman Tim Johnson (D-SD), wrote a letter to Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco, responding to his recent request for suggestions on steps FHFA can take to help facilitate more refinancing. The letter, signed by all twelve Committee Democrats, highlighted many of the proposals recommended to the Banking Committee by Republican … Continue Reading
March 29, 2012
JOHNSON STATEMENT ON SENATE CONFIRMATION OF KEY FINANCIAL REGULATORS
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on confirmation of Martin Gruenberg, Thomas Hoenig, and Jeremiah Norton to be a members of the FDIC Board of Directors, and Thomas Curry to be the Comptroller of the Currency. All four nominations were approved by unanimous consent. "It is vital that we have strong leaders in place at our financial regulators as we continue our economic recovery, continue implementation of the Wall Street Refor… Continue Reading
March 29, 2012
JOHNSON STATEMENT ON COMMITTEE APPROVAL OF FED, FDIC, OFR, AND TARP NOMINEES
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) held a vote on five nominees today. All five nominations were approved by voice vote, and will be sent to the full Senate for approval. "We need strong leadership in these posts to solidify our nation's economic recovery and to help prevent another financial crisis," said Johnson. "I believe that these nominees are well-qualified for the job and I am glad that we have moved them one step closer to confirmation." "I hope t… Continue Reading
March 29, 2012
JOHNSON OPENING STATEMENT ON MOBILE PAYMENTS HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing entitled "Developing the Framework for Safe and Efficient Mobile Payments." Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "Today's hearing, Developing the Framework for Safe and Efficient Mobile Payments, is an opportunity for the Committee to learn about the growth of mobile payments and the current framework of rules this market operat… Continue Reading
March 27, 2012
Chairman Tim Johnson Responds to Iran Sanctions Legislation Being Blocked in the Senate
WASHINGTON - Banking Committee Chairman Tim Johnson (D-SD), author of the bipartisan Iran Sanctions, Accountability, and Human Rights Act, provided the following statement after the bill was blocked from passage on the Senate Floor. "I am disappointed and frustrated that Majority Leader Reid's effort to have the Senate adopt our tough, bipartisan Iran sanctions legislation - a bill which passed unanimously out of the Banking Committee -- was blocked today. Senator Shelby and I have always wo… Continue Reading
March 22, 2012
JOHNSON STATEMENT ON INTERNATIONAL HARMONIZATION OF WALL STREET REFORM
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the international harmonization of Wall Street reform. The Committee heard from officials from the Treasury, Federal Reserve, SEC, FDIC, OCC, and CFTC, and discussed topics including orderly liquidation authority, derivatives regulations, and the Volcker Rule. Below is Chairman Johnson's statement as prepared for delivery: "I thank our witnesses for joining us. Today, this Committee continues its … Continue Reading
March 20, 2012
JOHNSON STATEMENT ON FED, FDIC, OFR, AND TARP NOMINATIONS
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to consider the nominations of: Mr. Jerome Powell and Dr. Jeremy Stein, to be members of the Board of Governors of the Federal Reserve System; Mr. Jeremiah Norton, to be a member of the Board of Directors of the Federal Deposit Insurance Corporation; Dr. Richard Berner, to be Director of the Office of Financial Research; and Ms. Christy Romero, to be Special Inspector General for the Troubled Asset Relief Pro… Continue Reading
March 20, 2012
BANKING COMMITTEE CHAIRMAN TIM JOHNSON BLASTS SENATE REPUBLICANS ON EXPORT-IMPORT VOTE
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD), cosponsor of the Export-Import Bank Reauthorization amendment, today released the following statement after Senate Republicans blocked the amendment from moving forward. "I am deeply disappointed that Senate Republicans blocked the reauthorization of the Export-Import Bank. This measure received unanimous bipartisan support in the Banking Committee and has broad support from business and labor, including the U.S. Chamber of… Continue Reading
March 19, 2012
JOHNSON TAKES TO FLOOR IN SUPPORT OF EXPORT-IMPORT BANK REAUTHORIZATION
Calls for increased investor protections in House JOBS bill WASHINGTON - In advance of a key vote tomorrow, Senate Banking Committee Chairman Tim Johnson (D-SD) took to the Senate floor to urge his colleagues to support passage of an amendment reauthorizing the Export-Import Bank of the United States. The legislation, sponsored by Johnson as well as Sens. Maria Cantwell (D-WA), Lindsey Graham (R-SC), and Richard Shelby (R-AL), passed out of the Senate Banking Committee with unanimous bipartisa… Continue Reading
March 15, 2012
SENATORS BOXER AND JOHNSON CALL ON HOUSE TO PASS BIPARTISAN SENATE TRANSPORTATION JOBS BILL
WASHINGTON, D.C. - In a letter sent today to House Speaker John Boehner (R-OH) and Majority Leader Eric Cantor (R-VA), Senator Barbara Boxer (D-CA), Chairman of the Environment and Public Works Committee, and Senator Tim Johnson (D-SD), Chairman of the Committee on Banking, Housing and Urban Affairs, called for the immediate passage of the bipartisan Senate transportation bill that saves or creates 2.9 million jobs and is fully paid for. In the letter, Senators Boxer and Johnson cited the urgen… Continue Reading
March 15, 2012
CANTWELL, TIM JOHNSON, GRAHAM, SHELBY INTRODUCE BIPARTISAN AMENDMENT TO SUPPORT AMERICAN EXPORT JOBS BY EXTENDING EX-IM BANK CHARTER
WASHINGTON, D.C. - Today, U.S. Senator Maria Cantwell (D-WA), Banking Committee Chairman Tim Johnson (D-SD), Senator Lindsey Graham (R-SC), and Banking Committee Ranking Member Richard Shelby (R-AL) introduced a bipartisan amendment to support trade and export jobs by extending the Export-Import Bank's lending authority until 2015. The bipartisan amendment also increases the bank's lending limit from $100 billion to $140 billion. The Export-Import Bank projects that a $140 billion cap would resu… Continue Reading
March 8, 2012
JOHNSON STATEMENT ON HOUSING CRISIS IN INDIAN COUNTRY
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the housing crisis in Indian Country. The Committee heard from officials at federal agencies responsible for Indian housing, infrastructure, and economic development, and discussed strategies for leveraging resources and coordinating efforts to better meet the needs of Native communities. Below is Chairman Johnson's statement as prepared for delivery: "Today, the Committee will continue examining a… Continue Reading
March 6, 2012
JOHNSON STATEMENT ON CAPITAL FORMATION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on capital formation proposals to spur job creation and protect investors. Below is Chairman Johnson's statement as prepared for delivery: Today we will have our second full Committee hearing on "Spurring Job Growth through Capital Formation While Protecting Investors." It is our fourth hearing overall on capital formation, following Senators Reed and Crapo's Securities Subcommittee hearing on "… Continue Reading
March 1, 2012
JOHNSON STATEMENT ON SEMIANNUAL MONETARY POLICY REPORT
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the Federal Reserve Bank's Semiannual Monetary Report to the Congress. The Committee heard from Fed Chairman Ben Bernanke, and discussed the ongoing economic recovery. Below is Chairman Johnson's statement as prepared for delivery: "Today I welcome Chairman Bernanke back to this Committee to deliver the Federal Reserve's Semiannual Monetary Report to Congress. "There are reasons to be optimis… Continue Reading
February 28, 2012
JOHNSON OPENING STATEMENT ON HOUSING FINANCE HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held the second in series of hearings on the state of the housing market and barriers to economic recovery. The Committee heard from HUD Secretary Shaun Donovan, Federal Reserve Board Governor Elizabeth Duke, and Federal Housing Finance Agency Acting Director Edward DeMarco. Below is Chairman Johnson's statement as prepared for delivery: "I thank our witnesses for joining us. Today's hearing is part two of our exam… Continue Reading
February 16, 2012
JOHNSON STATEMENT ON EUROPEAN DEBT CRISIS HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the European debt crisis. The Committee heard an update on the ongoing situation in Europe from officials from the Treasury Department, State Department, and Federal Reserve. The Committee discussed the potential impact of developments in Europe on the U.S. economy and global financial markets. Below is Chairman Johnson's statement as prepared for delivery: "Today we discuss an important and timely… Continue Reading
February 14, 2012
CHAIRMAN JOHNSON OFFERS PUBLIC TRANSPORTATION BILL ON THE SENATE FLOOR
WASHINGTON - Today, Senate Banking, Housing, and Urban Affairs Chairman Tim Johnson took to the Senate Floor to present the Committee's public transportation bill. The bill, authored by Chairman Johnson, will be attached to the Surface Transportation bill currently being considered by the full Senate. Senator Johnson's bill, which received unanimous bipartisan support in Committee, maintains current funding levels, improves safety oversight, and streamlines the construction of public transport… Continue Reading
