May 25, 2022

Ahead of Confirmation Vote, Brown Urges Colleagues to Support Sandra Thompson for FHFA Director

WASHINGTON, D.C. – Today on the Senate Floor, U.S. Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, called on his colleagues to support the nomination of Ms. Sandra Thompson for Director of the Federal Housing Finance Agency (FHFA). Ms. Thompson will be the first African American woman to be confirmed as Director of FHFA. 

Video of Senator Brown’s remarks is available here.

Sen. Brown’s remarks, as prepared for delivery, follow:

Mr./Madame President, I urge my colleagues to support Sandra Thompson’s historic nomination to be Director of the Federal Housing Finance Agency.

Ms. Thompson is an exceptional nominee with decades of experience in mortgage markets and federal financial regulation.

Since June 2021, Ms. Thompson has served as Acting Director of FHFA, where she has played a vital role in promoting access to mortgage credit, overseeing and supervising Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks, and protecting the safety and soundness of the housing finance system.

Before being designated as Acting Director, Ms. Thompson served for eight years as the Deputy Director for the Division of Mission and Goals at FHFA. 

Ms. Thompson also spent 18 years at the Federal Deposit Insurance Corporation, where she worked for seven different chairpersons from both political parties—and in senior-level positions.

Ms. Thompson will be the first woman, and the first Black woman, confirmed to lead FHFA.

For the first time, we finally have an Administration and a Senate Banking and Housing Committee that understand how important it is to have economic leaders who reflect the country, and the people who make it work.

She’ll join a growing list of experienced, talented Black women who have come through our committee – Marcia Fudge, Cecilia Rouse, Reta Jo Lewis, Lisa Cook, Alanna McCargo, Alexia Latortue. Just to name a few.  

Ms. Thompson has proven she will work for and listen to lenders and consumers, and both sides of the aisle.

Even before the pandemic, housing was too expensive and too hard to find, whether you’re looking to rent or to buy.

FHFA has an important role to play in bringing down housing costs, and empowering more families to be able to afford a safe and stable home.

I strongly urge my colleagues in supporting Ms. Thompson’s nomination.