Minority Press Releases

March 15, 2018

Brown Commends New Russia Cyber Sanctions, Urges Imposition Of Broader 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 the Trump Administration's decision to sanction certain Russian persons and firms for their involvement in destructive cyber activity against the US, including their interference in our elections and attacks on critical infrastructure. The Treasury Department sanctions announcement was accompanied by a Department of Homeland… Continue Reading


March 14, 2018

Brown Statement On Senate Passage of S.2155, The Dodd-Frank Roll Back Bill

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 passage S. 2155, the Dodd-Frank Roll Back Bill. Brown, a leading and vocal opponent of the legislation, raised concerns that this bill does nearly nothing for consumers, while scaling back protections for homeowners and putting taxpayers at risk of another bank bailout. "This body once again sided with special interests … Continue Reading


March 14, 2018

Brown Closing Floor Speech On S.2155, The Dodd-Frank Roll Back Bill

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 closing speech on the Senate floor today on S.2155, The Dodd-Frank Roll Back Bill. Brown's remarks, as prepared for delivery, follow. Ten years ago today - March 14th - Bear Stearns was on the verge of collapse. Despite its 85 year history, despite its relationship with nearly every bank on Wall Street, the bank suddenly found itself o… Continue Reading


March 13, 2018

Brown Floor Speech On Housing And S.2155, The Dodd-Frank Roll Back Bill

Mr. President, I would like my colleagues to take a trip down memory lane. Go back to 2006, 2007, 2008 and the decade before. Ohio had 14 years - nearly a decade and a half - of foreclosure increases leading up to the crisis. Predatory, irresponsible lenders made dangerous, sub-prime loans - and often ignored whether borrowers had the ability to repay that loan. Because of the lack of standards for underwriting, we learned a painful lesson that not all mortgage lending is created equal. Let'… Continue Reading


March 12, 2018

Brown Floor Speech On Foreign Banks And S.2155, The Dodd-Frank Roll Back BIll

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 speech on the Senate floor today on foreign bank giveaways in S.2155, The Economic Growth, Regulatory Relief and Consumer Protection Act. Brown's remarks, as prepared for delivery, follow. Back 30, 40, 50 years ago, when you went to the local bank to buy a house, you knew the lender, and the lender knew you. You saw them at the grocery… Continue Reading


March 9, 2018

Brown Floor Speech On S.2155 Substitute Amendment, The Dodd-Frank Roll Back Bill

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 speech on the Senate floor today on the substitute amendment for S.2155, The Economic Growth, Regulatory Relief and Consumer Protection Act. Brown's remarks, as prepared for delivery, follow. Mr./Mdme. President, Yesterday I spoke about the big banks that have violated our banking laws time and time again, yet are being rewarded by th… Continue Reading


March 6, 2018

Brown Opening Floor Speech Opposing S.2155, The Dodd-Frank Roll Back Bill

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 speech on the Senate floor today in opposition to S.2155, The Economic Growth, Regulatory Relief and Consumer Protection Act. Brown's remarks, as prepared for delivery, follow. Mr. President, Ten years ago - almost to the day - this country was on the verge of a financial crisis that would end up wrecking the lives of millions of fami… Continue Reading


March 5, 2018

Brown Statement On CBO Score Of S.2155, The Dodd-Frank Roll Back Bill

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 - released the following statement in response to the report issued by the non-partisan Congressional Budget Office on S. 2155. The CBO projects that S. 2155 will increase the likelihood that a systemically important financial institution - a Wall Street or global megabank -- will fail. As a result, CBO estimates the bill will increase the federal deficit … Continue Reading


March 1, 2018

Brown Opening Statement At Banking Committee Hearing On The Federal Reserve Semiannual Monetary Report To Congress

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 "The Semiannual Monetary Report to Congress": Sen. Brown's remarks, as prepared for delivery, follow: Chairman Crapo, thank you for holding this hearing. Chair Powell, welcome back to the Committee, and for the first time in your new role. You are leading the Federal Reserve at a crucial time… Continue Reading


February 27, 2018

What Wall Street Reform Leaders Are Saying About S.2155, the Dodd-Frank Roll Back Bill

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - received letters from current and former Wall Street watchdog officials raising concerns on S. 2155 and how the legislation may harm financial stability and consumer protection. Links and excerpts from each of the letters is provided below. Former Fed Chair Paul Volcker: On Section 401: "an increase to $250 billion would go too far. It would have the e… Continue Reading


February 26, 2018

Brown Floor Speech on the Consumer Financial Protection Bureau

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 speech on the Senate floor today on the Consumer Financial Protection Bureau (CFPB) under OMB Director Mick Mulvaney's leadership. Brown's remarks, as prepared for delivery, follow. Mr. President, This month, the toy company Hasbro announced it's introducing a new version of the board game Monopoly -in this version, players get reward… Continue Reading


February 16, 2018

Brown Leads Letter Demanding Answers On CFPB Plan To Strip Office Of Fair Lending

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 - along with 53 members of congress, demanded answers on reports that the Consumer Financial Protection Bureau (CFPB) intends to re-organize the Office of Fair Lending and Equal Opportunity and strip the Office of its enforcement and supervisory role. Yesterday, the Center for Investigative Reporting released a study of 61 U.S. cities demonstrating that … Continue Reading


February 13, 2018

Brown:President's Budget Defunds Consumer Bureau

Proposed Budget Elimination of the Consumer Financial Protection Bureau 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 in response to the Trump Administration's proposed budget cuts for the Consumer Financial Protection Bureau (CFPB) for Fiscal Year 2019. The President's budget claims a $6.4 billion savings from "restructuring" the CFPB - but Republicans save that money by… Continue Reading


February 12, 2018

Brown Says Consumer Bureau Must Protect Working People, Not Banks And Payday Lenders

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 in response to reports that the Consumer Financial Protection Bureau (CFPB), under orders from OMB Director Mick Mulvaney, has decided to revise the mission and vision of the bureau by further deterring the agency from pursuing its mission of protecting consumers. "Banks and payday lenders have enough lobbyists working on their… Continue Reading


February 6, 2018

Brown Opening Statement At Banking Committee Hearing On Virtual Currencies

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 "Virtual Currencies: The Oversight Role of the SEC and CFTC." Sen. Brown's remarks, as prepared for delivery, follow: Thank you Chairman Crapo, and welcome to Chair Clayton and Chair Giancarlo. Virtual currencies, and Bitcoin specifically, have captured the attention of investors, speculators, c… Continue Reading


February 5, 2018

Brown Says Mulvaney Refusal To Investigate Equifax Breach Is Malpractice

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 in response to reports that the Consumer Financial Protection Bureau (CFPB), under orders from OMB Director Mick Mulvaney, has decided to end the investigation into the Equifax data breach, which put the personal information of 145 million consumers at risk. "Refusing to investigate a data breach that put 145 million Americans… Continue Reading


January 31, 2018

Brown, Cardin Lead 20 Democrats in Letter to Tillerson: Lack of Trump Administration’s Mandatory Russia Sanctions Impositions is Unacceptable

WASHINGTON - U.S. Senators Ben Cardin (D-Md.), Ranking Member of the Senate Foreign Relations Committee, and Sherrod Brown (D-Ohio), Ranking Member of the Senate Banking Committee, led twenty of their Democratic Senate colleagues Tuesday in a letter to Secretary of State Rex Tillerson, expressing their concern that six months after Congress overwhelmingly passed mandatory sanctions measures to hold Russia accountable for their destabilizing activities against our country and nations around the w… Continue Reading


January 31, 2018

Brown Applauds Courts Decision To Uphold CFPB's Independence

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 The U.S. Court of Appeals for the District of Columbia Circuit decision to uphold a provision in the Dodd-Frank law that states the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional and that its director can only be fired by the president for cause. "Today the DC Circuit affirmed that CFPB… Continue Reading


January 30, 2018

Brown Opening Statement At Banking Committee Hearing On The Financial Stability Oversight Council

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 "The Financial Stability Oversight Council (FSOC) Annual Report to Congress." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, and thank you Secretary Mnuchin for appearing before the Committee today. I look forward to your testimony on the threats to financial … Continue Reading


January 25, 2018

Brown Opening Statement At Banking Committee Hearing On CFIUS, Part II

BROWN OPENING STATEMENT AT BANKING COMMITTEE HEARING ON CFIUS, Part II 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 "CFIUS Reform: Administration Perspectives On the Essential Elements." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. And thanks to our witnesses for joining us today to share the views of … Continue Reading

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