Minority Press Releases

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


April 17, 2018

Brown Opening Statement At Banking Committee Hearing On Nominations To FTA, Commerce and HUD

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 nominations to the Federal Transit Administration, the Department of Commerce and the Department of Housing and Urban Development. Brown's remarks, as prepared for delivery, follow. Thank you, Chairman Crapo, for holding today's hearing on the nominations of Thelma Drake, Jeffrey Nadaner,… Continue Reading


April 12, 2018

Brown Opening Statement At Banking Committee Hearing On The CFPB's Semiannual 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 Consumer Financial Protection Bureau's Semiannual Report to Congress." Sen. Brown's remarks, as prepared for delivery, follow: The reason we are here today is that there was a financial crisis ten years ago caused by predatory lenders, and that crisis cost millions of Americans their jobs a… Continue Reading


April 11, 2018

Brown Floor Speech On The 50th Anniversary Of The Fair Housing 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 - delivered the following speech on the Senate floor today on the 50th Anniversary of the Fair Housing Act. Brown's remarks, as prepared for delivery, follow. Mr./Mdme. President, 50 years ago today, we enacted the Fair Housing Act, just one week after the assassination of Dr. Martin Luther King, Jr., as he fought for economic justice with sanitation worker… Continue Reading


April 3, 2018

Brown Statement On The New York Fed President Selection Process

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 Federal Reserve Bank of New York's announcement that Federal Reserve Bank of San Francisco President John Williams has been selected to replace New York Fed President William Dudley, who is retiring: "Mr. Williams is a distinguished and respected economist; however, I am disappointed by the search committee's selection o… Continue Reading


March 22, 2018

Brown Opening Statement At Banking Committee Hearing On HUD

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 "Oversight of HUD." Sen. Brown's remarks, as prepared for delivery, follow: Thank you Chairman Crapo and welcome, Secretary Carson. The Department of Housing and Urban Development, or HUD, plays a critical role in the success of our housing market, our communities, our families and our goals as… Continue Reading


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

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