March 19, 2021

Brown Applauds Bank Regulators for Standing Up to Wall Street

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Federal Reserve and other banking agencies announced they would not extend regulatory exemptions for the nation’s biggest banks:

“This is a victory for lending in communities hit hard by the pandemic, and for the stability of our financial system. I will continue to fight for regulators to prioritize the real economy over stock buybacks and dividends.”

Brown and his colleagues have long called for the Federal Reserve to rescind capital exemptions at the nation’s biggest banks.