Majority Press Releases

January 4, 2012

JOHNSON COMMENT ON RECESS APPOINTMENT OF RICHARD CORDRAY

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement in response to the White House's announcement that President Obama will recess appoint Richard Cordray to be the first director of the Consumer Financial Protection Bureau. "With Richard Cordray leading the Consumer Financial Protection Bureau, Americans will finally get the consumer protections they deserve. Mr. Cordray is eminently qualified for the job, as even my Senate Republican colleague… Continue Reading


December 13, 2011

JOHNSON, REED, AND TESTER COMMEND ADMINISTRATION ANNOUNCEMENT ON ELIMINATING WASTEFUL $1 COIN PRODUCTION

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD), along with Senator Jack Reed (D-RI) and Senator Jon Tester (D-MT) today commended the Administration's announcement that the Treasury will stop producing excess Presidential $1 coins. "I am glad to see the Administration make this commonsense reform to eliminate unnecessary waste of taxpayer money," said Chairman Johnson. "I welcome this development, and I look forward to monitoring the Administration's progress as it works t… Continue Reading


December 13, 2011

JOHNSON OPENING STATEMENT ON FHFA OVERSIGHT HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held an oversight hearing on the Federal Housing Finance Agency, and heard from FHFA Inspector General Steve Linick. This was the Committee's second FHFA oversight hearing this year. Below is Chairman Johnson's statement as prepared for delivery: "I would like to welcome the first Inspector General of the FHFA, Steve Linick, before the Committee today. "As we wrap up the hearings for this year, I am pleased … Continue Reading


December 8, 2011

JOHNSON STATEMENT ON SENATE REPUBLICANS’ OBSTRUCTION OF RICHARD CORDRAY’S NOMINATION TO LEAD THE CFPB

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement after Senate Republicans voted to block Richard Cordray's nomination to be the first ever Director of the Consumer Financial Protection Bureau. "I am disappointed that Senate Republicans continue to hold strong consumer protections hostage. By voting against Mr. Cordray's nomination Senate Republicans demonstrated that they care more about Wall Street than helping American consumers. "… Continue Reading


December 8, 2011

JOHNSON TAKES TO FLOOR TO URGE SENATE REPUBLICANS TO STOP BLOCKING CONSUMER PROTECTION NOMINEE

WASHINGTON - In advance of today's vote, Senate Banking Committee Chairman Tim Johnson (D-SD) took to the Senate floor this morning to urge his Senate Republican colleagues to stop blocking the nomination of Richard Cordray to be the first ever Director of the Consumer Financial Protection Bureau. Below is Chairman Johnson's statement as prepared for delivery: "Mr. President, two months ago the Senate Banking Committee voted along party lines to send to the full Senate the nomination of … Continue Reading


December 6, 2011

JOHNSON STATEMENT ON SCHEDULED VOTE ON CORDRAY’S NOMINATION TO LEAD THE CFPB

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on today's announcement that the Senate will vote Thursday to advance the nomination of Richard Cordray to be the first ever Director of the Consumer Financial Protection Bureau. On July 18th, President Obama nominated Richard Cordray to be the first Director of the CFPB. "The Consumer Financial Protection Bureau was created to protect consumers, including military families and older Americans,… Continue Reading


December 6, 2011

JOHNSON OPENING STATEMENT AT WALL STREET REFORM OVERSIGHT HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held an oversight hearing on the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Committee heard from representatives of the Treasury, Federal Reserve, SEC, CFTC, FDIC, and OCC. The hearing examined the regulators' progress in implementing the Wall Street Reform Act, and explored the new law's effects on improving the stability of the financial system. Below is Chairman Johnson's sta… Continue Reading


December 1, 2011

JOHNSON OPENING STATEMENT ON SPURRING JOB CREATION THROUGH ACCESS TO CAPITAL

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on capital formation proposals to create jobs. The Committee reviewed a number of outstanding proposals and explored additional avenues to help small businesses. Below is Chairman Johnson's statement as prepared for delivery: "Our nation is facing an unemployment crisis. Nearly 14 million Americans are unable to find a job, and over 5 million have been unemployed for six months or longer. Here in Cong… Continue Reading


November 28, 2011

STATEMENT OF SENATOR TIM JOHNSON ON THE RETIREMENT OF CONGRESSMAN BARNEY FRANK

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on Congressman Barney Frank's announcement that he will not seek reelection. "The people of the Fourth Congressional district of Massachusetts and our entire nation owe Barney Frank a debt of gratitude for his decades of public service. With Barney's retirement the House of Representatives will lose one of its most dedicated and effective members, but I have no doubt that he will conti… Continue Reading


November 15, 2011

JOHNSON STATEMENT ON FHFA OVERSIGHT HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held an oversight hearing on the Federal Housing Finance Agency. Below is Chairman Johnson's statement as prepared for delivery: "I would like to thank Mr. DeMarco for being here today. As I mentioned at our hearing on November 3, we have been planning to hold an FHFA oversight hearing, and I am pleased it was able to come together so quickly. "As Ranking Member Shelby, and others, so accurately noted during … Continue Reading


November 14, 2011

JOHNSON TO HOLD HEARING ON SPURRING JOB GROWTH THROUGH CAPITAL FORMATION

WASHINGTON - Today, Banking Committee Chairman Tim Johnson (D-SD) announced he will hold a full committee hearing on capital formation proposals to create jobs. The committee will review a number of outstanding proposals and explore additional avenues to help small businesses. "There are a number of bipartisan proposals introduced to ensure small businesses have adequate access to capital. On December 1st, I will hold a hearing in the Banking Committee where we will take a closer look at p… Continue Reading


November 10, 2011

JOHNSON CHAIRS HEARING ON JOB CREATION IN NATIVE COMMUNITIES

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing today to discuss the opportunities and challenges faced by Native American communities around the country. The Committee discussed obstacles holding back job creation such as lack of access to capital, as well as work being done to address the problem. While progress has been made, many Native communities continue to face significant challenges, including staggering unemployment rates, inadequate health care, h… Continue Reading


November 9, 2011

JOHNSON CONTINUES STRONG OVERSIGHT OF FINANCIAL REFORM

WASHINGTON - The recent financial crisis devastated our economy: millions of Americans lost their jobs, their homes, or their savings. As a response to the worst financial crisis since the Great Depression, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act to address regulatory gaps and establish vital new safeguards for consumers, investors, and taxpayers. As Chairman of the Senate Banking Committee, Senator Tim Johnson (D-SD) is committed to ensuring the oversi… Continue Reading


November 3, 2011

JOHNSON STATEMENT ON CONSUMER FINANCIAL PROTECTIONS FOR SERVICEMEMBERS AND VETERANS

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on consumer financial protections for servicemembers, veterans, and their families. The Banking Committee heard from witnesses including Holly Petraeus, head of the new Office of Servicemember Affairs at the Consumer Financial Protection Bureau, and discussed financial challenges facing these consumers, the importance of financial education, and the enforcement of existing consumer protection laws. Below … Continue Reading


November 3, 2011

JOHNSON TO HOLD FHFA OVERSIGHT HEARING

WASHINGTON -This morning at a Senate Banking Committee hearing, Chairman Tim Johnson (D-SD) announced his intention to hold an oversight hearing on the Federal Housing Finance Agency (FHFA) where the recently announced bonuses for executives at Fannie Mae and Freddie Mac will be explored. Below are Chairman Johnson's remarks as prepared for delivery. "Earlier this week, it was reported that 10 executives at Fannie Mae and Freddie Mac were scheduled to receive bonuses totaling more than $… Continue Reading


November 2, 2011

JOHNSON TO HIGHLIGHT FINANCIAL PROTECTIONS FOR SERVICEMEMBERS AND VETERANS

WASHINGTON - With Veterans Day approaching and in recognition of November being Military Family Month, Senate Banking Committee Chairman Tim Johnson (D-SD) will hold a hearing tomorrow to explore consumer financial protection for servicemembers, veterans, and their families. At 10:00 A.M. in Dirksen 538 the Banking Committee will hear from witnesses including Holly Petraeus, head of the new Office of Servicemember Affairs at the Consumer Financial Protection Bureau. The Committee will discuss fi… Continue Reading


October 27, 2011

SENATORS URGE INNOVATIVE REO REHAB-TO-RENT STRATEGY TO HELP STABILIZE HOUSING

WASHINGTON, DC - In an effort to boost the economy, create jobs, and stabilize neighborhoods, 33 U.S. Senators are asking the Obama Administration and the Federal Housing Finance Agency (FHFA) to swiftly develop an efficient and effective real estate owned (REO) management strategy to make better use of vacant foreclosed homes. Led by Senators Jack Reed (D-RI), Tim Johnson (D-SD), and Bob Menendez (D-NJ), the senators today wrote a letter to the U.S. Department of the Treasury, the U.S. Dep… Continue Reading


October 26, 2011

JOHNSON COMMENTS ON CFPB'S NEW FINANCIAL AID SHOPPING SHEET

WASHINGTON -Today, Senator Tim Johnson (D-SD), Chairman of the Senate Banking Committee, released the following statement on the Consumer Financial Protection Bureau's "financial aid shopping sheet." This afternoon, Raj Date, Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau, unveiled details of the CFPB's new financial aid shopping sheet at the University of Minnesota. "The CFPB's Financial Aid Shopping Sheet is a perfect example of what this ne… Continue Reading


October 24, 2011

JOHNSON COMMENTS ON FHFA'S CHANGES TO ITS MORTGAGE REFINANCING PROGRAM

WASHINGTON -Today, Senator Tim Johnson (D-SD), Chairman of the Senate Banking, Housing and Urban Affairs Committee, welcomed the announcement by the Federal Housing Finance Agency that it was working with Fannie Mae and Freddie Mac to implement changes to the Home Affordable Refinance Program (HARP) in an effort to help some borrowers benefit from refinancing their home mortgage. "The Federal Housing Finance Agency's mortgage refinancing plan is an important and overdue step in the right dir… Continue Reading


October 13, 2011

JOHNSON OPENING STATEMENT ON IRAN SANCTIONS OVERSIGHT HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing entitled "Addressing Potential Threats from Iran: Administration Perspectives on Implementing New Economic Sanctions One Year Later." Below is Chairman Johnson's statement as prepared for delivery: "Good morning, I call this hearing to order, and I welcome my colleagues and our witnesses. "In the wake of the alarming announcement this week of an Iranian-government supported plot to assassinate th… Continue Reading

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