Minority Press Releases

June 23, 2016

Brown Opening Statement at Hearing on Bank Capital and Liquidity Rules

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, as prepared for delivery, at today's hearing entitled, "Bank Capital and Liquidity Regulation, Industry Perspectives." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Bank Capital and Liquidity Regulation, Industry Perspectives" June 23, 2016 Thank you, Chair S… Continue Reading


June 21, 2016

Brown Opening Statement at Hearing on Semiannual Monetary Policy Report

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, as prepared for delivery, at today's hearing on "The Semiannual Monetary Policy Report to the Congress." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement:Hearing on "The Semiannual Monetary Policy Report to the Congress"June 21, 2016 Thank you, Chairman Shelby. Chair Yell… Continue Reading


June 14, 2016

Brown Opening Statement at SEC Oversight 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, as prepared for delivery, at today's hearing entitled, "Oversight of the U.S. Securities and Exchange Commission." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Oversight of the U.S. Securities and Exchange Commission" June 14, 2016 Thank you Chairman Shelby, … Continue Reading


June 7, 2016

Brown Opening Statement at Hearing on Bank Capital and Liquidity Rules

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, as prepared for delivery, at today's hearing entitled, "Bank Capital and Liquidity Regulation." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Bank Capital and Liquidity Regulation"June 7, 2016 Thank you, Chairman Shelby, for holding today's hearing, and I thank… Continue Reading


May 25, 2016

Brown Opening Statement at Hearing on Oversight of the Iran Nuclear Agreement and 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, as prepared for delivery, at today's hearing entitled, "Understanding the Role of Sanctions Under the Iran Deal: Administration Perspectives." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Understanding the Role of Sanctions Under the Iran Deal: Administration Pe… Continue Reading


May 24, 2016

Brown Opening Statement at Hearing on Sanctions and the 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 opening statement, as prepared for delivery, at today's hearing entitled, "Understanding the Role of Sanctions Under the Iran Deal." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Understanding the Role of Sanctions Under the Iran Deal"May 24, 2016 Thank you, Mr. Chairman. For the … Continue Reading


May 23, 2016

Brown Urges Oversight of Shadow Banking Risks

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 called on the Financial Stability Oversight Council (FSOC) to outline its efforts to address risks in the "shadow banking" sector that could threaten financial stability. In a letter to U.S. Treasury Secretary Jacob Lew, Brown emphasized that a central cause of the 2008 financial crisis was the failure, or near failure, of nonbank financial institutions … Continue Reading


May 19, 2016

Brown Continues Push to Clear Banking Committee's Nominations Backlog

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 urged Senate Republican leaders to clear the growing backlog of key financial oversight, trade, and national security nominations. Brown's push followed the Banking Committee's approval today of five of the 20 executive nominations that the panel has received since January 2015: Lisa M. Fairfax and Hester M. Peirce to be Members of the Securities and E… Continue Reading


May 17, 2016

Brown Presses for Vote to Restore Export-Import Bank to Full Strength

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 urged his Republican colleagues to act without further delay to restore the full authority of the U.S. Export-Import Bank's board of directors. Brown met this afternoon with Mark McWatters, a Republican who was nominated in January at the suggestion of Senate Majority Leader Mitch McConnell (R-KY) to fill a vacancy on Ex-Im's board. With three empty seat… Continue Reading


April 7, 2016

ICYMI: Public Interest Advocates Praise CFPB's Success in Protecting Consumers

WASHINGTON, D.C. - As the Senate Banking Committee holds hearings this week on the Consumer Financial Protection Bureau, several public interest groups highlighted the bureau's achievements to rein in abusive practices that hurt American families, communities, and the economy. The groups urged the Banking Committee and Congress to resist Republican efforts to undermine or abolish the CFPB, which has secured more than $11 billion in relief to more than 25 million wronged consumers. Before the Ba… Continue Reading


April 7, 2016

Brown Opening Statement at Hearing on CFPB Semi-Annual 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, as prepared for delivery, at today's hearing on the Consumer Financial Protection Bureau's semi-annual report to Congress. Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress"April 7, 2016 Thank… Continue Reading


April 5, 2016

Sen. Brown Opening Statement at Banking Committee's Hearing on Consumer Finance 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, as prepared for delivery, at today's hearing entitled, "Assessing the Effects of Consumer Finance Regulations." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening StatementHearing: "Assessing the Effects of Consumer Finance Regulations"April 5, 2016 Thank you, Chairman Shelby for holdi… Continue Reading


March 15, 2016

Sen. Brown Opening Statement at Banking Committee's Hearing on SEC, U.S. Mint Nominations

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, as prepared for delivery, at today's hearing on the nominations of Lisa M. Fairfax to be a Member of the Securities and Exchange Commission, Hester M. Peirce to be a Member of the Securities and Exchange Commission, and Matthew Rhett Jeppson to be Director of the U.S. Mint. Brown's remarks, as prepared for delivery, fo… Continue Reading


March 15, 2016

Senate Banking Committee’s Stalling on Nominations Unprecedented Since 2001

The Senate Banking Committee has acted on just one of the 19 nominees it has received since the start of 2015, a record of obstruction that is unparalleled over the last 15 years. The following spreadsheets show actions on Banking Committee nominees since 2001. The tables list the names, positions, and agencies for each nominee, as well as the status of the nominations at each stage of the confirmation process, according to the Legislative Information Service. Status of Banking Committee Nomin… Continue Reading


March 10, 2016

Brown Statement on Banking Committee's Approval of Treasury Nominee for Counterterrorism Post

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 committee approved Adam J. Szubin's nomination to be the U.S. Treasury Department's Under Secretary for Terrorism and Financial Crimes. Szubin's nomination now goes to the full Senate for a confirmation vote. "Adam Szubin has proven to be a tough and effective enforcer of U.S. sanctions and terrorism financing laws ag… Continue Reading


February 22, 2016

Banking Committee Democrats Urge Chairman Shelby to Clear Nominations Backlog

WASHINGTON, D.C. - Democrats on the U.S. Senate Committee on Banking, Housing, and Urban Affairs today urged Chairman Richard Shelby to stop obstructing President Obama's nominees for critical Administration positions related to financial oversight, national security, export financing, and public transportation safety. In a letter to Chairman Shelby (R-AL), all 10 of the panel's Democrats expressed concern that the Banking Committee has not yet voted on any of the President's nominees in this Co… Continue Reading


February 11, 2016

Sen. Brown's Opening Statement at Banking Committee's Hearing on Semiannual Monetary Policy Report

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, as prepared for delivery, at today's hearing titled, "The Semiannual Monetary Policy Report to the Congress." Brown's remarks, as prepared for delivery, follow. Senator Sherrod Brown - Opening Statement:Hearing on "The Semiannual Monetary Policy Report to the Congress" Feb. 11, 2016 Thank you, Chairman Shelby. I… Continue Reading


February 4, 2016

Brown Urges Fed to Curb Big Banks' Commodity Trading

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 called on the Federal Reserve to propose rules to address the risks posed by Wall Street banks' involvement in physical commodities. In a letter to Federal Reserve Chair Janet Yellen, Brown said the Federal Reserve's Board of Governors has so far "failed" to fulfill its commitment to impose new rules to rein in banks' trading of physical commodities and … Continue Reading


January 21, 2016

Brown Commends Extension of Exam Cycles for Small Banks

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 commended federal regulators for taking swift action to reduce the regulatory burden for small banks. The new rule allows well-managed banks with up to $1 billion in assets to qualify for an on-site exam cycle of 18 rather than 12 months. The previous threshold was $500 million. The provision was one of several bipartisan measures included in last year's… Continue Reading


January 12, 2016

Brown Praises Defeat of Bid to Undermine the Federal Reserve's Independence and Inject Politics into Monetary Policy

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 praised the Senate's action to defeat an attempt to politicize the Federal Reserve's monetary policy deliberations. While the Government Accountability Office, a nonpartisan and independent agency, is required to conduct regular and appropriate audits of the Fed's activities, narrow exceptions were crafted to shield the Fed from political interference in … Continue Reading

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