Minority Press Releases

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


May 8, 2018

Brown Statement On US Withdrawal From Iran Nuclear Agreement

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 withdraw from the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran Nuclear Agreement, an international agreement to prevent Iran from ever developing or acquiring a nuclear weapon. The President announced he was reimposing sanctions on Iran and countries which deal with… Continue Reading


April 25, 2018

Brown Calls For Mulvaney To Resign For ‘Pay To Play’ Comments

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 a New York Time's report that the Office of Management and Budget (OMB) Director and the Consumer Financial Protection Bureau's (CFPB) acting director Mick Mulvaney "told banking industry executives on Tuesday that they should press lawmakers hard to pursue their agenda, and revealed that, as a congressman, he wou… Continue Reading


April 21, 2018

Brown Statement On CFPB And OCC’s $500 Million Fines Against Wells Fargo For Auto Insurance And Mortgage Abuse

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 Wells Fargo will be fined $500 million by the Consumer Financial Protection Bureau (CFPB) and $500 million by the Office of the Comptroller of the Currency (OCC) for forcing customers into unnecessary auto insurance and charging mortgage borrowers unfair fees. "On the heels of the Senate voting t… Continue Reading


April 19, 2018

Brown Opening Statement At Banking Committee Hearing On Federal Reserve Supervision And Regulation

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 Testimony of the Federal Reserve's Supervision and Regulation of the Financial System." Sen. Brown's remarks, as prepared for delivery, follow: Thank you, Mr. Chairman and thank you Vice Chairman Quarles for appearing before the Committee today. On this very day ten years ago (Apr… Continue Reading


April 18, 2018

Brown Floor Speech on the Export-Import Bank of the United States

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 Export-Impor Bank of the United States an requesting a that the quorum call be dispended on the Bank's nominees, so the nominees can be confirmed and EXIM Bank is restored to full functionality. Brown's remarks, as prepared for delivery, follow. Mr. /Mdme. President, I ask that the quorum call be dispensed with. Mr./M… Continue Reading


April 17, 2018

Brown Floor Speech Opposing Repeal Of CFPB Guidance On Fair Auto Lending

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 opposing S.J. Res. 57 - the Congressional Review Act to repeal the Consumer Financial Protection Bureau's (CFPB) Indirect Auto Lending Guidance. The guidance describes auto lenders' responsibility, established by the Equal Credit Opportunity Act of 1974, to avoid discriminatory lending practices. Br… Continue Reading

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