Majority Press Releases
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
October 6, 2011
JOHNSON STATEMENT ON COMMITTEE APPROVAL OF RICHARD CORDRAY’S NOMINATION TO LEAD THE CFPB
Committee also sends nominations for the Council of Economic Advisers, HUD, and the Export Import Bank to the full Senate WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement following the successful Committee vote on the nomination of Richard Cordray to be the first ever Director of the Consumer Financial Protection Bureau. The Committee voted to send Mr. Cordray's nomination to the full Senate with a straight party line vote 12-10. "Today's Banking Commit… Continue Reading
September 22, 2011
JOHNSON STATEMENT ON NOMINATION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the nominations of Alan Krueger to be Chairman of the Council of Economic Advisers, David Montoya to be HUD Inspector General, and Cyrus Amir-Mokri to be Assistant Secretary of the Treasury. Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "Thanks to all of our nominees for joining us here today. I also extend a warm welcome to our … Continue Reading
September 13, 2011
JOHNSON OPENING STATEMENT ON HOUSING FINANCE REFORM HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to discuss housing finance focusing on the role of a government guarantee, as well as the benefits and risks to taxpayers. This is the tenth in a series of hearings the Committee has been holding related to housing finance reform. Below is Chairman Johnson's statement as prepared for delivery: "I would like to thank our witnesses for joining us today. This will be the tenth housing finance reform hear… Continue Reading
September 9, 2011
CHAIRMAN JOHNSON LAUDS PRESIDENT OBAMA'S CALL FOR TRANSIT FUNDING
WASHINGTON - Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Johnson (D-SD) applauded President Obama's call tonight for Congress to pass important transportation funding. The current surface transportation bill is set to expire at the end of the month and if Congress does not act 1.8 million jobs will be threatened. The Senate Banking, Housing, and Urban Affairs Committee is responsible for oversight of our nation's public transportation systems. Below is Chairman Johnson's … Continue Reading
September 8, 2011
BANKING COMMITTEE PASSES EXPORT-IMPORT BANK REAUTHORIZATION
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a markup of the Export-Import Bank Reauthorization Act of 2011. The Export-Import Bank is the official export credit agency of the United States and it assists in financing the export of U.S. goods and services to international markets. The Committee approved the bill with bipartisan support by unanimous voice vote. Below is Senator Johnson's statement following the markup. "The Ex-Im Bank is a proven jobs cr… Continue Reading
September 8, 2011
BANKING COMMITTEE APPROVES NOMINEES FOR FDIC, SEC, OCC, FSOC, SIPC
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a Committee markup of the nominations of Mr. Anthony Frank D'Agostino and Mr. Gregory Karawan to be Directors of the Securities Investor Protection Corporation; the Honorable Luis Aguilar and Mr. Daniel Gallagher to be Members of the Securities and Exchange Commission; Mr. S. Roy Woodall, Jr. to be a Member of the Financial Stability Oversight Council; the Honorable Martin Gruenberg to be a Member and Chairperson of th… Continue Reading
September 8, 2011
BANKING COMMITTEE PASSES FLOOD INSURANCE REAUTHORIZATION
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a markup of the Flood Insurance Reform and Modernization Act of 2011 which reauthorizes the National Flood Insurance Program (NFIP) for five years and makes critical improvements to the long term stability of the program. The Committee approved the bill with bipartisan support by unanimous voice vote and it will now be sent to the floor for consideration by the full Senate. Below is Senator Johnson's statement follo… Continue Reading
September 6, 2011
JOHNSON HOLDS CONFIRMATION HEARING FOR RICHARD CORDRAY
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to consider the nomination of Richard Cordray to be the first Director of the Consumer Financial Protection Bureau. Below is Chairman Johnson's statement as prepared for delivery: "On our next panel, we will consider the nomination of Richard Cordray to be the first Director of the Consumer Financial Protection Bureau. "Mr. Cordray, welcome to the Senate Banking Committee and a warm welcome to y… Continue Reading
September 6, 2011
ACCOUNTABILITY AT THE CONSUMER FINANCIAL PROTECTION BUREAU
TO: Interested Parties FROM: Sean Oblack, Senate Banking Committee Communications Director DATE: September 6, 2011 RE: Accountability at the Consumer Financial Protection Bureau __________________________________________________________________________________ Even before the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, opponents of consumer protection have been fighting the creation of the Consumer Financial Protection Bureau (CFPB). One of the latest … Continue Reading
September 1, 2011
SENATORS JOHNSON AND BOXER URGE COLLEAGUES TO PROTECT 1.8 MILLION JOBS
WASHINGTON - Tim Johnson (D-SD), Chairman of the Banking, Housing, and Urban Affairs Committee, and Senator Barbara Boxer (D-CA), Chairman of the Environment and Public Works Committee, today released the state-by-state impacts on job losses if the current surface transportation authorization bill is not extended by September 30. Senators Johnson and Boxer sent a letter to their colleagues in the Senate highlighting the urgent need for a short-term extension. The current surface transportati… Continue Reading
August 8, 2011
JOHNSON REACTS TO S&P DOWNGRADE
Today, Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Johnson (D-SD) issued the following statement on the market reaction to Standard & Poor's downgrade of U.S. Treasuries. "In the minds of serious, reasonable, and informed individuals there is no doubt that the U.S. will meet its debt obligations and we are seeing even more proof of that today. As the financial markets stumble, investors continue to regard Treasury debt as a safe haven in times of economic uncerta… Continue Reading
August 2, 2011
JOHNSON OPENING STATEMENT ON MORTGAGE SERVICING HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to discuss national mortgage servicing standards. It was the eighth in a series of hearings the Committee has been holding related to housing finance reform. Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "Thanks to all of our witnesses for joining us this morning. I would also like to recognize that, for the first time, we have a wit… Continue Reading
July 26, 2011
JOHNSON OPENING STATEMENT ON FDIC, OCC, FSOC NOMINATION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the nominations of Martin Gruenberg to be Chairperson of the Board of the FDIC, Thomas Curry to be Comptroller of the Currency, and Roy Woodall, Jr. to be a Member of the Financial Stability Oversight Council. Below is Chairman Johnson's statement as prepared for delivery: "Thanks to all of our nominees for joining us here today. I also want to extend a warm welcome to our witnesses' family and fr… Continue Reading
July 26, 2011
JOHNSON OPENING STATEMENT ON WALL STREET REFORM ANNIVERSARY HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Below is Chairman Johnson's statement as prepared for delivery: "Today marks the first anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. "The Wall Street Reform Act was a direct response to the worst financial crisis since the Great Depression. It created a sound regulatory… Continue Reading
July 19, 2011
JOHNSON ANNOUNCES THAT REP. FRANK WILL TESTIFY ON THE FIRST ANNIVERSARY OF THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) announced that Representative Barney Frank (D-MA) has accepted his invitation to testify at a Banking Committee hearing marking the first anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act being signed into law. Thursday's hearing will examine the progress in setting up the new framework to better protect consumers and oversee Wall Street. "Barney is an author of the Dodd-Frank law and someone… Continue Reading
July 19, 2011
JOHNSON COMMENTS ON POLL SHOWING OVERWHELMING PUBLIC SUPPORT FOR WALL STREET REFORM
WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement regarding a poll conducted by Lake Research Partners that shows overwhelming bipartisan support for the Dodd-Frank Wall Street Reform and Consumer Protection Act. The poll found that voters favor full implementation of the Wall Street Reform Act by a 3 to 1 margin. The poll also found that 74% of voters, including 68% of Republicans, support the creation of a single agency solely focused on consu… Continue Reading
July 19, 2011
JOHNSON OPENING STATEMENT ON CONSUMER PROTECTION HEARING
WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing entitled "Enhanced Consumer Financial Protection After the Financial Crisis." The Committee heard testimony about how the Wall Street Reform Act will improve the financial lives of consumers, by promoting a fair and transparent marketplace and protecting consumers from unfair, deceptive and abusive financial products and services. Below is Chairman Johnson's statement as prepared for delivery: "Today… Continue Reading
