Minority Press Releases

September 11, 2017

Brown Calls on Equifax to Remove Forced Arbitration From Credit Monitoring, Following Data Breach

BROWN CALLS ON EQUIFAX TO REMOVE FORCED ARBITRATION FROM CREDIT MONITORING, FOLLOWING DATA BREACH Senator Warns Victims: Read Carefully before Signing away your Rights 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 Equifax to immediately remove forced arbitration from all services offered to customers following a data breach that exposed 143 million Americans to identify theft. Equifax is c… Continue Reading


September 7, 2017

Brown Opening Statement at Banking Committee Hearing on North Korea

BROWN OPENING STATEMENT AT BANKING COMMITTEE HEARING ON NORTH KOREA 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 opening statement at today's hearing entitled, "Evaluating Sanctions Enforcement and Policy Options on North Korea." Brown's remarks, as prepared for delivery, follow: Thank you, Chairman Crapo, for again pursuing this issue so important to our national… Continue Reading


September 7, 2017

Brown Opening Statement at Banking Committee Executive Session

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 - released the following opening statement at today's Executive Session to vote on Mr. Joseph Otting to be Comptroller of the Currency, The Honorable Randal Quarles to be a Member of the Board of Governors of the Federal Reserve System and S.1463, Financial Stability Oversight Council Insurance Memb… Continue Reading


July 27, 2017

Brown Opening Statement at Committee Hearing On Nominations of Quarles, Otting

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 to consider the nominations of Randal Quarles to be a Member of the Board of Governors of the Federal Reserve System and Joseph Otting to be Comptroller, Office of the Comptroller of the Currency. Brown's remarks, as prepared for delivery, follow. Opening Statement Hearing on the Nominations of Ra… Continue Reading


July 20, 2017

Brown Vows 'Hell of a Fight' Against Efforts to Protect Wall Street Banks that Cheat Customers

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - vowed today to fight efforts to overturn the Consumer Financial Protection Bureau's arbitration rule. Wall Street banks and predatory payday lenders use fine print clauses known as 'forced arbitration' to deny consumers access to the justice system after they've been cheated. Notably, Wells Fargo has used forced arbitration clauses to prevent defrauded customer… Continue Reading


July 20, 2017

Brown Opening Statement at Committee Hearing on Housing Finance Reform: Maintaining Access for Small 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 opening statement at today's hearing entitled, "Housing Finance Reform: Maintaining Access for Small Lenders." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "Housing Finance Reform: Maintaining Access for Small Lenders" Chairman Crapo, thank you for holding this hearing. I wou… Continue Reading


July 18, 2017

Brown Opening Statement at Committee Nominations 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 - released the following opening statement at today's hearing on nominations. Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown Opening Statement Nominations Hearing July 18, 2017 I want to join Chairman Crapo in welcoming all our nominees and their families, and thanking you for your willingness to serve in these key public ser… Continue Reading


July 13, 2017

Brown Opening Statement at Committee Hearing with Fed Chair Yellen

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, "The Semiannual Monetary Report to Congress." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown Opening Statement "The Semiannual Monetary Report to Congress" July 13, 2017 Senator Crapo, thank you for holding this hearing. Chair Yellen, welcome back to the… Continue Reading


July 11, 2017

Brown Statement on Randal Quarles' Nomination to Top Fed Post

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - today slammed President Donald Trump's nomination of Randal Quarles to serve as Vice Chair for Supervision at the Federal Reserve. "The last thing we need is another watchdog who believes that what's good for Wall Street is good for America," said Brown. "President Trump promised to drain the swamp. Instead, again and again, he's handed even more influence over to W… Continue Reading


July 10, 2017

Brown Applauds Upcoming Rule to Ensure Ohio Consumers Have Their Day in Court

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) applauded news today that the Consumer Financial Protection Bureau (CFPB) will finalize its rule to protect Ohio consumers' ability to hold big banks accountable after falling victim to financial fraud or scams. The rule from CFPB will restrict financial institutions' use of "forced arbitration" - a practice used by Wall Street banks and predatory payday lenders to deny consumers access to the justice system when the institution engages in ille… Continue Reading


June 29, 2017

Crapo, Brown Introduce FSOC Insurance Member Continuity Act

WASHINGTON, D.C. - U.S. Senate Committee on Banking, Housing and Urban Affairs Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) today introduced legislation that allows the Financial Stability and Oversight Council (FSOC) to continue to benefit from the important insight and contributions of the independent member with insurance expertise if his/her replacement has not been confirmed. As the statute is currently written, the independent insurance member cannot serve beyon… Continue Reading


June 29, 2017

Brown Opening Statement at Committee Hearing on Principles of Housing Finance Reform

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, "Principles of Housing Finance Reform." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "Principles of Housing Finance Reform" Thank you, Chairman Crapo, for holding today's hearing. All three of our witnesses have substantial experi… Continue Reading


June 27, 2017

Brown, Reed, Menendez, Warren: "Stress Test" Shows Dodd-Frank Working

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - and his Banking Committee colleagues U.S. Sens. Jack Reed (D-RI), Bob Menendez (D-NJ), and Elizabeth Warren (D-MA) said today that the strong performance of U.S. banks in the stress test is further proof that the Dodd-Frank Wall Street Reform and Consumer Protection Act is working and now is not the time to roll back the protections put in place following the 2008 fina… Continue Reading


June 22, 2017

Brown Opening Statement at Committee Hearing on Economic Growth

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, "Fostering Economic Growth: Regulator Perspective." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "Fostering Economic Growth: Regulator Perspective" Chairman Crapo, thank you for holding today's hearing. And I'd like to welcome our… Continue Reading


June 15, 2017

Brown Opening Statement at Hearing on Economic Growth

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, "Fostering Economic Growth: Midsized, Regional and Large Institution Perspective" Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "Fostering Economic Growth: Midsized, Regional and Large Institution Perspective" Thank you, Chairman … Continue Reading


June 13, 2017

Senators Announce Agreement on Russia Sanctions

WASHINGTON, D.C. - U.S. Senate Committee on Banking, Housing and Urban Affairs Chairman Mike Crapo (R-Idaho), Ranking Member Sherrod Brown (D-Ohio), Foreign Relations Committee Chairman Bob Corker (R-Tennessee) and Ranking Member Ben Cardin (D-Maryland) today announced a bipartisan agreement on legislation to strengthen and expand current U.S. sanctions on Russia. The amendment to the underlying Iran sanctions bill maintains and substantially expands sanctions against the government of Russia i… Continue Reading


June 8, 2017

Brown Opening Statement at Committee Hearing on Economic Growth

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, "Fostering Economic Growth: The Role of Financial Institutions in Local Communities." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement Hearing: "Fostering Economic Growth: The Role of Financial Institutions in Local Communities" Chairman Crapo,… Continue Reading


June 7, 2017

Brown Statement on House Push to Dismantle Wall Street Reform, Consumer Protections

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - today issued the following statement as the House prepares to vote on the so-called CHOICE Act, which would dismantle the Dodd-Frank Wall Street Reform law. The bill would gut the Consumer Financial Protection Bureau, which has returned almost $12 billion to 29 million Americans who have been cheated by shadowy debt collectors, for-profit schools, and payday lenders. R… Continue Reading


June 6, 2017

Brown Statement on Trump's Nominee for Key Wall Street Watchdog

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the Senate Banking, Housing, and Urban Affairs Committee - issued the following statement regarding President Trump's intention to nominate former OneWest Bank CEO Joseph Otting to lead the Office of the Comptroller of the Currency, a key Wall Street watchdog. "The President's choice for watchdog of America's largest banks is someone who signed a consent order - over shady foreclosure practices - with the very agency he's bee… Continue Reading


June 6, 2017

Brown Statement at Hearing on CEA, HUD Nominees

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - issued the following opening statement at today's Banking Committee hearing on the nominations of Kevin Hassett for Chairman of the Council of Economic Advisers, and Pamela Patenaude for Deputy Secretary of Housing and Urban Development. Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: CEA, HUD NomineesJune … Continue Reading

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