Minority Press Releases

July 17, 2018

Committee Members Call on Banking Committee to Postpone CFPB Hearing Until Requested Documents are Provided

WASHINGTON, D.C. - Today, Senate Banking Committee Democrats wrote to Chairman Crapo urging him to postpone Thursday's Consumer Financial Protection Bureau nomination hearing of Ms. Kathy Kraninger until committee members' outstanding requests for information have been fulfilled. Members of the Committee have requested relevant documents and other information in advance of Thursday's nominations hearing, including: Letter From Senators Brown and Warren Letter From Senators Menendez, Brown, … Continue Reading


July 17, 2018

Brown Opening Statement at Banking Committee Hearing on Federal Reserve's 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 titled 'The Semiannual Monetary Report to Congress'. Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman. This week, the President went overseas, and sided with President Putin while denigrating critical American institutions, including the press, the intelligence comm… Continue Reading


July 12, 2018

Brown Opening Statement at Banking Committee Hearing on Credit Bureaus and the Fair Credit Reporting 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 opening statement at today's hearing titled 'An Overview of the Credit Bureaus and the Fair Credit Reporting Act'. Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman. And thanks to our witnesses for joining us today. I hope I can be excused to particularly welcome Ms. Twohig from the Consumer Protection Bur… Continue Reading


July 9, 2018

Brown Floor Speech On Federal Reserve 2018 Stress Test Results

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 Federal Reserve's Comprehensive Capital Analysis and Review (CCAR) Stress Test results. The CCAR Stress Test is an annual exercise by the Federal Reserve to assess whether the largest banks operating in the United States have sufficient capital to weather downturns in the economy. Brown's remarks,… Continue Reading


June 26, 2018

Brown Opening Statement at Hearing on Proposals to Increase Access to 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 - released the following opening statement at today's hearing titled 'Legislative Proposals to Increase Access to Capital'. Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, and welcome to our witnesses. I want to thank Senator Crapo for holding today's hearing and providing Members of this Committee the opportunity to discuss… Continue Reading


June 19, 2018

Warren, Brown Call for CFPB Director Nominee to Turn Over Documents on Involvement in Trump Administration's Separation of Children from Their Families

Warren, Brown Call for CFPB Director Nominee to Turn Over Documents on Involvement in Trump Administration's Separation of Children from Their Families Kathy Kraninger is Top Budget Official Overseeing New Policies Implemented by DHS and DOJ, Including "Zero-Tolerance Policy" Text of letter (PDF) Washington, DC - United States Senators Sherrod Brown (D-Ohio), Ranking Member of the Senate Banking, Housing, & Urban Affairs Committee and Elizabeth Warren (D-Mass.), Ranking Member of the Sena… Continue Reading


June 18, 2018

Brown Statement On Nomination Of 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 - released the following statement on the White House's intent to nominate Ms. Kathy Kraninger as Director of the Consumer Financial Protection Bureau (CFPB). "Working families need a CFPB Director who will fight for them. For months I have called for a CFPB Director with a track record of holding Wall Street and payday lenders accountable. The White House shoul… Continue Reading


June 7, 2018

Brown Statement On Agreement Between The Trump Administration And ZTE

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 new settlement agreement between the Trump administration and Chinese telecom giant ZTE. ZTE was penalized for persistently violating US sanctions against Iran and North Korea and lying about it on multiple occasions. The Senate Banking Committee recently voted overwhelmingly to block such a deal, and the House of Represe… Continue Reading


June 6, 2018

Brown Slams Mulvaney For Disbanding CFPB's Consumer Advisory 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 slammed Acting Director Mick Mulvaney's reported decision to disband the CFPB's Consumer Advisory Board. The advisory board is a statutorily required panel of 25 consumer advocates and experts that help inform the CFPB about emerging consumer practices, products and trends as well as share consumer focused analysis and recommendations. "Mulvaney has proven on… Continue Reading


May 30, 2018

Brown Blasts Effort To Weaken Volcker 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 blasted the Federal Reserve's decision to weaken the Volcker Rule today. The Volcker Rule, which is a part of the Dodd-Frank Wall Street Reform law, prohibits banks and financial institutions that own a bank from engaging in speculative trading using taxpayer-backed deposits. Today's actions represent another harmful step forward by financial regulators to implem… Continue Reading


May 25, 2018

Brown Statement On Reported Agreement Between The Trump Administration And ZTE

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 a reported tentative deal reached between the Trump administration and Chinese telecom giant ZTE to drop the bar to the company's doing business with the U.S. put in place just a month ago. This week, the Senate Banking Committee voted overwhelmingly to block such a deal, and the House of Representatives voted to impose new r… Continue Reading


May 24, 2018

Brown Statement On Bill Signing 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 bill signing of S.2155, The Dodd-Frank Roll Back Bill. Brown, a leading and vocal opponent of the legislation, raised concerns that this bill does next to nothing for consumers, while scaling back protections for homeowners and putting taxpayers at risk of another bank bailout. "Today, special interests win again. The Pr… Continue Reading


May 24, 2018

Brown Opening Statement At Banking Committee Hearing On Cybersecurity

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 entitled "Cybersecurity: Risks to the Financial Services Industry and Its Preparedness." Sen. Brown's remarks, as prepared for delivery, follow: Thank you Chairman Crapo. This Committee last considered cyber preparedness of financial institutions three and a half years ago. Since then, sophisticated… Continue Reading


May 23, 2018

Brown Opening Statement At Banking Committee Hearing On FHFA

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 entitled "Ten Years of Conservatorship: The Status of the Housing Finance System." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Chairman Crapo. Director Watt, welcome back. I want to thank the Chairman for calling this hearing to continue the Committee's discussion of the c… Continue Reading


May 22, 2018

Brown Statement On House 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 in the House of Representatives. Brown, a leading and vocal opponent of the legislation, raised concerns that this bill does next to nothing for consumers, while scaling back protections for homeowners and putting taxpayers at risk of another bank bailout. The Congressional B… Continue Reading


May 22, 2018

Brown Opening Statement At Banking Committee Hearing On Markup Of The Foreign Investment Risk Review Modernization Act of 2017

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 executive session on S. 2098, the Foreign Investment Risk Review Modernization Act of 2017. Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Senator Crapo. A decade ago, Congress adopted the Foreign Investment and National Security Act to give our government a greater ability to respond to… Continue Reading


May 18, 2018

RANKING MEMBERS OF BANKING, HELP COMMITTEES CALL ON MULVANEY TO PROTECT STUDENT LOAN BORROWERS

WASHINGTON, D.C. - This week, Senator Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Senator Patty Murray (D-WA), ranking member on the U.S. Senate Committee on Health, Education, Labor and Pensions, led Senators calling on the Consumer Financial Protection Bureau (CFPB) to halt its effort shutting down the Office for Students and Young Consumers. Since opening its doors in 2011, the Office for Students has secured more than $750 mil… Continue Reading


May 15, 2018

Brown Opening Statement At Banking Committee Hearing On Nominations To The Federal Reserve System

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 the Board of Governors of the Federal Reserve System. Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Senator Crapo. I want to congratulate our witnesses on their nominations, and welcome their families to the Committee. Both of you have served the public in previ… Continue Reading


May 10, 2018

Brown, 21 Senators Call Mulvaney To Turn Over Meeting Records After ‘Pay To Play’ Comments

WASHINGTON, D.C. - This week, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - called on Office of Management and Budget Director Mick Mulvaney to make available documents related to his scheduling policies at OMB and CFPB since his Senate confirmation in early 2017 for public review to determine if he has continued the 'pay to play' policy in the Trump Administration. Brown was joined by 21 of his Senate colleagues. According… Continue Reading


May 9, 2018

Brown Opposes Mulvaney's Decision To Dissolve CFPB’S Office Of Students

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 announcement that the Consumer Financial Protection Bureau would dissolve its Office of Students and Young Consumers. The Office of Students and Young Consumers was created to support the mission of the Student Loan Ombudsman, a position that Senator Brown fought to have included as part of the agency's creation. … Continue Reading

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