Minority Press Releases

August 7, 2020

Brown, Colleagues Demand Trump Administration Rescind Proposals Leaving Workers’ Retirement Savings At Risk

WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Patty Murray (D-WA), Ranking Member of the Senate Health, Education, Labor, and Pensions Committee, and Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee joined the House Education and Labor Committee Chairman Robert C. “Bobby” Scott, and House Financial Services Committee Chairwoman Maxine Waters in sending a letter to Labor Secretary Eu… Continue Reading


August 7, 2020

Brown Statement on the Confirmation of Caroline Crenshaw to the Securities and Exchange Commission

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 after Ms. Caroline Crenshaw was confirmed by the Senate to the Securities and Exchange Commission (SEC):“Ms. Crenshaw's history of public service and commitment to ensuring the financial markets work for all Americans will serve her well as an SEC Commissioner. I am confident that in her work she will think first about the… Continue Reading


August 6, 2020

Brown Presses CFTC For A Comprehensive Review of Possible Oil Market Manipulation; Says The Agency Must Do More To Protect Consumers From Market Abuses

Washington, DC - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today sent a letter to Commodity Futures Trading Commission (CFTC) Chair Heath Tarbert pushing for the agency to complete a thorough review of the unusual trading in oil futures that occurred earlier this year. The Senator cited recent press reports that alleged one trading firm was central to the market conditions that caused the price of oil to fall below … Continue Reading


August 4, 2020

Brown, Colleagues Urge Congressional Leaders Negotiating The Next Coronavirus Relief Package To Ban Arbitration Clauses Attached To Needed Benefits

WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Bob Menendez, a senior member of the both the Banking and Finance Committee, led its Democratic members in urging lead negotiators of the next COVID-19 stimulus package to prohibit the Federal Government from attaching forced arbitration agreements to any form of benefit payments to Americans. Last March, the pre-paid debit cards IRS sent to four m… Continue Reading


July 31, 2020

Warren, Brown Criticize Fed Vice Chair Quarles' "Outrageous and Irresponsible" Lobbying for Regulatory Favors for Big Banks in COVID-19 Relief Package

Text of letter to Quarles (PDF) Text of letter to Powell (PDF) Washington, DC - United States Senators Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs' Subcommittee on Consumer Protection and Financial Institutions, and Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Federal Reserve's Vice Chairman for Supervision Randal Quarles questioning why he … Continue Reading


July 31, 2020

Brown, Warren, and Harris Call On CFPB To Protect Borrowers from Discrimination

United States Senators Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs’ Subcommittee on Consumer Protection and Financial Institutions, and Kamala D. Harris (D-Calif.) sent a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger urging the agency to take immediate actions to address potential viola… Continue Reading


July 29, 2020

At Hearing Brown Pushes CFPB Director To Protect Consumers, Not Corporations

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 ‘The Consumer Financial Protection Bureau’ Semiannual Report to Congress’.Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for holding this virtual hearing, and thank you, Director Kraninger, for participating in this hearing remotely to practice social … Continue Reading


July 23, 2020

Brown Statement On The Passage Of His Bipartisan Bill To Prevent Garnishment Of Relief Payments

 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 following passage of a bill he introduced with Senate Finance Committee Chairman Chuck Grassley (R-Iowa), Finance Committee Ranking Member Ron Wyden (D-Ore.), and Sen. Tim Scott (R-S.C.) to protect CARES Act recovery payments provided from garnishment by private debt collectors:  “During this public health crisis, Congre… Continue Reading


July 23, 2020

Brown’s Statement on HUD’s Action to Undermine the Fair Housing Act

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 after the Administration announced its final Affirmatively Furthering Fair Housing (AFFH) rule, gutting a key element of the Fair Housing Act:“It’s a dark day for the country when the President boasts about maintaining housing segregation, and the agency charged with carrying out the Fair Housing Act becomes a tool to help… Continue Reading


July 23, 2020

Brown Calls On His Colleagues To Pass Rental Assistance And Provide Relief For Millions Of Renters And Homeowners

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today continued his push for emergency rental assistance to help the millions of people struggling to pay their rent or at risk of losing their homes.“The House passed the HEROES Act nearly two months ago. That would have eliminated these cliffs, provided $100 billion in emergency rental assistance, and given families some peace of mind,” said, Senator Brow… Continue Reading


July 21, 2020

Brown’s Remarks During Executive Session On The Nominations Of Dr. Judy Shelton And Dr. Christopher Waller

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - today delivered remarks during an Executive Session to consider the nominations of Dr. Judy Shelton and Dr. Christopher Waller to be Members of the Board of Governors of the Federal Reserve System:Thank you, Mr. Chairman.And thank you to all of my colleagues for wearing masks today. It keeps all of us in this room safe, including staff members. It model… Continue Reading


July 21, 2020

Brown Opening Statement at Nomination Hearing

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 on nominations to the Securities and Exchange Commission and the National Credit Union Administration Board:Thank you, Chairman Crapo, for holding today's nomination hearing.First, I want to take a brief moment to remember my friend and colleague, Representative John Lewis. Let us honor his lega… Continue Reading


July 21, 2020

Brown, Cortez Masto, Colleagues Press OCC For Information On The Agency’s Fair Lending Oversight

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Sen. Catherine Cortez Masto (D-Nev.) today joined 16 of their Senate colleagues in sending a letter to the Office of the Comptroller of the Currency (OCC), pressing the agency for information on how it pursues violations of civil rights laws by financial institutions. The Senators cited press reports that show the OCC undermined OCC examiners’ e… Continue Reading


July 16, 2020

BROWN, LEADER SCHUMER, SENATE DEMOCRATS ANNOUNCE HISTORIC PROPOSAL FOR $350 BILLION INVESTMENT IN COMMUNITIES OF COLOR

WASHINGTON, D.C. - Today, U.S. Senator Sherrod Brown (D-OH), Senate Democratic Leader Chuck Schumer (D-NY) and Senate Democrats today unveiled the Economic Justice Act, a major new legislative proposal to make $350 billion in immediate and long-term investments in Black communities and other communities of color. For far too long, Congress has underfunded critical priorities like public health, child care, infrastructure, and job creation in these communities. Senate Democrats’ plan woul… Continue Reading


July 10, 2020

Senate Banking Committee Democrats Urge Chairman Crapo To Hold Another Hearing On Dr. Judy Shelton’s Nomination to the Federal Reserve Board

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, led a letter signed by all Committee Democrats to U.S. Senator Mike Crapo (R-ID), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs urging him to hold another hearing on Dr. Judy Shelton’s nomination for the Board of Governors of the Federal Reserve before moving her nomination forward. On Friday, Chairman Crapo announced that he … Continue Reading


July 10, 2020

ICYMI: Brown, Klobuchar Call On The Office Of The Comptroller Of The Currency to Ensure Banks Provide Relief to Homeowners

WASHINGTON - United States Senator Sherrod Brown (D-OH) Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Senator Amy Klobuchar, led seven colleagues in a letter to the Office of the Comptroller of the Currency calling for clarification regarding the critical role played by state and local officials—including Governors and Attorneys General—in working with banks to provide relief to homeowners and mortgage holders during the coronavirus pandemic.… Continue Reading


July 9, 2020

Brown Statement on the Supreme Court’s Split Rulings on President Trump’s Financial Records

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 after the Supreme Court split its decisions regarding whether the President had to release financial documents to law enforcement and Congress.“Today’s Supreme Court decisions on President Trump’s financial records make clear that no one, not even the President, is above the law. Although the Court did not require immediat… Continue Reading


July 7, 2020

Brown Blasts The Trump Administration for Gutting The Payday Lending Rule

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 following the Consumer Financial Protection Bureau’s (CFPB) announcement of a new payday lending rule. The CFPB previously issued a 2017 rule under former Director Cordray that required payday lenders to determine that consumers can repay loans. The new rule eliminates this critical protection and follows reports that Trump's political app… Continue Reading


July 6, 2020

Brown Statement on the Release of Critical PPP Loan Data

 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 after news  that U.S. Small Business Administration (SBA) and The Treasury Department released data on the borrowers of  Paycheck Protection Program (PPP) loans:“The Administration releasing this data is a first step that will allow for proper oversight and inform future stimulus plans,” said, Senator Brown. “The American… Continue Reading


July 2, 2020

Brown Statement on HUD’s New Anti-Trans 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 after reports showed the Department of Housing and Urban Development has proposed a new rule that would impede transgender individuals’ access to shelters.“Once again the Trump Administration has reached new levels of cruelty - advancing another housing rule that would undermine the humanity of transgender people and thei… Continue Reading

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