Minority Press Releases

February 14, 2019

Brown Opening Statement at Banking Committee Hearing On Nominations to FHFA, NCUA and Treasury

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following opening statement at today’s hearing on nominations to Federal Housing Finance Agency, the National Credit Union Administration and the Department of Treasury. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Chairman Crapo, for holding this hearing today on the nominations of Mr. Bimal Patel, Mr. Todd Harper, Mr… Continue Reading


February 13, 2019

Crapo, Brown Invite Feedback on Data Privacy, Protection and Collection

WASHINGTON - United States Senate Committee on Banking, Housing and Urban Affairs Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) are inviting feedback from interested stakeholders on the collection, use and protection of sensitive information by financial regulators and private companies. “Given the exponential growth and use of data, and corresponding data breaches, it is worth examining how the Fair Credit Reporting Act should work in a digital economy, and whet… Continue Reading


February 6, 2019

Brown Slams Kraninger for Dismantling CFPB Payday Lending Rule

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement slamming Director Kraninger’s proposal to gut the CFPB’s payday lending rule. The Director plans to eliminate requirements that lenders ensure families can afford to repay their loans and that limit the number of repeat loans a lender can sell to a borrower.“Eliminating these common sense protections will result in millions of … Continue Reading


February 6, 2019

Brown Opening Statement at Banking Committee Executive Session

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following opening statement at today’s Executive Session. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. I’m pleased we will approve the committee rules, budget resolution, and subcommittee membership and jurisdiction today. I also want to welcome our new members to the Committee—Senators Smith, Sinem… Continue Reading


February 1, 2019

Brown Statement on Crapo Housing Finance Reform Outline

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement on Senate Banking Committee Chairman Mike Crapo’s housing finance outline. “I will fight to ensure that any efforts to reform the housing market start by addressing the affordability crisis that is hurting too many renters and homeowners across this country. Too often Congress and the White House have put Wall Street ahead… Continue Reading


February 1, 2019

Brown Statement on Crapo Housing Finance Reform Outline

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement on Senate Banking Committee Chairman Mike Crapo’s housing finance outline. “I will fight to ensure that any efforts to reform the housing market start by addressing the affordability crisis that is hurting too many renters and homeowners across this country. Too often Congress and the White House have put Wall Street ahead… Continue Reading


January 30, 2019

Brown Calls on Fed to Protect Taxpayers by Increasing Big Bank Capital

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - is calling on the Federal Reserve Board Governors to use all of its prudential authorities, including the Countercyclical Capital Buffer (CCyB) for the biggest banks, to strengthen the resiliency of the financial system and protect working families from the next economic downturn.  “These systemic vulnerabilities are becoming more apparent.  At a time wh… Continue Reading


January 25, 2019

Waters and Brown Call on Otting to Detail His Plans for FHFA

WASHINGTON, D.C. - Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Senator Sherrod Brown (D-OH), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Joseph Otting, Comptroller of the Currency, following President Trump’s appointment of Otting to serve as Acting Director of the Federal Housing Finance Agency (FHFA). Chairwoman Waters and Ranking Member Brown emphasized the Government Sponsor… Continue Reading


January 18, 2019

Brown Slams CFPB For Failing To Protect Servicemembers

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement opposing the Consumer Financial Protection Bureau’s (CFPB) failure to monitor financial services institutions for violations of the Military Lending Act (MLA).  “The CFPB is neglecting its duty to protect the women and men who serve and protect our country. The CFPB has broad authorities - Congress does not need to take a… Continue Reading


January 16, 2019

Brown Statement On Resolution Of Disapproval Of Treasury's Decision To Delist Russian Firms From Sanctions

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement on his vote to disapprove the U.S. Treasury Department’s decision in December to terminate sanctions for three Russian companies connected to sanctioned Russian oligarch Oleg Deripaska: EN+ Group Plc, JSC EuroSibEnergo, and United Co. Rusal Plc. “President Trump has consistently resisted applying tough Congressionally-mand… Continue Reading


December 19, 2018

Schumer, Brown, Menendez Statement On Treasury Decision to Delist Russian Firms From Sanctions

WASHINGTON, D.C. — Senate Minority Leader Charles Schumer (D-NY), Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs and Sen. Robert Menendez (D-NJ) - ranking member of the U.S. Senate Committee on Foreign Relations - released the following statement on the Treasury Department’s intent to remove three large Russian companies, EN+ Group Plc, JSC EuroSibEnergo (“ESE”), and United Co. Rusal Plc (Rusal) from U.S. sanctions lists. The… Continue Reading


December 11, 2018

Brown Opening Statement at Banking Committee Hearing on Oversight of the SEC

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following opening statement at today’s hearing entitled ‘Oversight of the U.S. Securities and Exchange Commission’. Sen. Brown’s remarks, as prepared for delivery, follow:Thank you Chairman Crapo, and welcome to Chair Clayton.As I believe this will be the last Banking Committee hearing for this Congress, I would like to express my thanks… Continue Reading


December 6, 2018

Brown Opening Statement at Banking Committee Hearing on Proxy Process and Rules

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following opening statement at today's hearing entitled 'Proxy Process and Rules: Examining Current Practices and Potential Changes'. Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Chairman Crapo, and welcome to our witnesses. All too often, we see corporate boards and executives focus on short-term profits, instead of lo… Continue Reading


December 6, 2018

Brown and Rubio Announce Legislation to Protect Small Businesses from Predatory Lenders

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Senator Marco Rubio (R-FL) introduced legislation to protect small businesses by codifying the Federal Trade Commission's (FTC) 1985 ban on confessions of judgement in consumer loan contracts and extending the ban to include small business borrowers. Confessions of judgment require a borrower to give up her rights in court before obtaining a loan, an… Continue Reading


November 29, 2018

Brown Floor Speech Opposing Kathy Kraninger's Nomination For CFPB Director

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following floor speech opposing Kathy Kraninger's nomination for Director of the Consumer Financial Protection Bureau (CFPB). Sen. Brown warns that Kraninger will continue to be a rubber stamp for this Administration's anti-consumer agenda. Sen. Brown led Senate Democrats to unanimously oppose moving forward with nominating Kraninger to the CFPB. … Continue Reading


November 29, 2018

Brown Opening Statement at Banking Committee Hearing On Combating Money Laundering and Other Illicit Finance

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - delivered the following opening statement at today's hearing entitled 'Combating Money Laundering and Other Illicit Finance: Regulator and Law Enforcement Perspectives on Reform'. Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for calling this hearing. Even with all of the tough, comprehensive protections we've put in plac… Continue Reading


November 27, 2018

Brown Releases Report on Mick Mulvaney's Year of Attacks on Servicemembers, Students, and Working Families

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released 'Pushing the Envelope: The Consumer Financial Protection Bureau Under the Trump Administration' report to Congress. The report details how Mr. Mulvaney has undermined the Bureau's mission to enforce consumer protections in order to push the financial industry's wish list. The CFPB was a great success during its first six years. The Bureau obtained alm… Continue Reading


November 1, 2018

Brown Statement on the Federal Reserve's Proposal to Weaken Rules for Large U.S. Banks

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement on the Federal Reserve's proposal to weaken systemic risk protections for banks with up to $700 billion in assets. "This Administration and Congress continue to fail hardworking Americans by weakening protections that guard taxpayers from big bank risk," said Brown. "What's worse, the Fed said that more roll backs for foreign … Continue Reading


October 17, 2018

Brown Statement On FSOC's De-Designation of Prudential

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - released the following statement on the Financial Stability Oversight Council's (FSOC) decision to rescind designation of Prudential Financial as a systemically important financial institution. "I'm deeply disappointed, but not surprised, by the decision of the FSOC under Secretary Mnuchin's leadership to abandon the Council's mission to protect taxpayers from… Continue Reading


October 12, 2018

Crapo, Brown Applaud Passage of Hezbollah Sanctions Bill

WASHINGTON- The U.S. Senate passed the bipartisan Hezbollah InternationalFinancing Prevention Amendments Act (S. 1595), backed by Senate Banking Committee ChairmanMike Crapo (R-Idaho) and Ranking MemberSherrod Brown (D-Ohio), Senators Marco Rubio (R-Florida) and Jeanne Shaheen(D-New Hampshire), and House Foreign Affairs Committee Chairman Ed Royce (R-California)and Ranking Member Eliot Engel (D-New York). The bill now heads to thePresident to be signed into law. AsChairman and Ranking Member of… Continue Reading

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