Minority Press Releases

December 10, 2013

JOHNSON STATEMENT ON MEL WATT VOTE

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) today released the following statement after a procedural vote passed that clears the way for Congressman Mel Watt (D-NC) to be confirmed as the Director of the Federal Housing Finance Agency (FHFA). "I congratulate Congressman Watt on a successful cloture vote this morning and look forward to the Senate quickly confirming him as the Director of the FHFA. Congressman Watt has over 40 years of experience in housing, real estate… Continue Reading


December 10, 2013

CHAIRMAN JOHNSON COMMENTS ON VOLCKER RULE

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement after financial regulators approved the "Volcker Rule," a Wall Street Reform provision that bans proprietary trading by banks. "Today's approval of the final Volcker Rule is a key milestone in the full implementation of Wall Street Reform and these trading restrictions will help improve the integrity of our banking system. I commend all the individuals involved in this monumental effort for the… Continue Reading


November 22, 2013

JOHNSON ON TRANSITIONING TO A STRONGER HOUSING FINANCE SYSTEM

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Developing a Plan for a Smooth Transition." Below is Chairman Johnson's statement as prepared for delivery: "The Committee will come to order. "Today we continue our series of hearings to better inform the Committee's efforts to reform our housing finance system. While we have spent time examining what the different components of a new system should look like, today… Continue Reading


November 21, 2013

JOHNSON ON CREATING A STRONG SECONDARY MORTGAGE MARKET REGULATOR

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Powers and Structure of a Strong Regulator." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "This hearing continues the Committee's effort to examine housing finance reform proposals. Today we will explore the current regulatory structure related to the secondary mortgage market and survey the issues related to the pro… Continue Reading


November 21, 2013

JOHNSON SUPPORTS JANET YELLEN TO SERVE AS CHAIR OF THE FED

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held an Executive Session to consider the nomination of Janet Yellen to be Chairman of the Federal Reserve. Below is Chairman Johnson's statement as prepared for delivery: "I call the Committee to order. "We have a quorum present, so we will move to executive session to consider the nomination of the Honorable Janet Yellen to be Chairman of the Board of Governors of the Federal Reserve System for a term of four … Continue Reading


November 14, 2013

JOHNSON OPENING STATEMENT AT JANET YELLEN’S NOMINATION HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing to consider the nomination of the Honorable Janet Yellen to be the Chairman of the Federal Reserve. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Today we consider the nomination of the Honorable Janet Yellen to be Chair of the Board of Governors of the Federal Reserve System for a term of four years. "Dr. Yellen is an extraordinary candidate t… Continue Reading


November 12, 2013

JOHNSON LAUDS MASSAD NOMINATION FOR CFTC

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement on the nomination of Timothy Massad to be the next Chairman of the Commodity Futures Trading Commission. "Mr. Massad is an excellent selection to serve as the next Chairman of the CFTC. Through his work at the Treasury Department and the Congressional Oversight Panel, Mr. Massad has earned a solid reputation for protecting the American taxpayer. He is exactly the type of leader the CFTC needs as the Commis… Continue Reading


November 12, 2013

JOHNSON ON CFPB’S SEMI-ANNUAL REPORT TO CONGRESS

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Director Cordray, welcome back to the committee and congratulations on your Senate confirmation. We are here today to continue our regular oversight of the CFPB, giving this Committee another opportunity to review the im… Continue Reading


November 7, 2013

JOHNSON STATEMENT ON THE NEED FOR AFFORDABLE HOUSING OPTIONS

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Essential Elements to Provide Affordable Options for Housing." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Today, with the help of our witnesses, the Committee will examine the importance of affordability in the housing finance system for both homeowners and renters. It is imperative that any new system meets the h… Continue Reading


November 5, 2013

JOHNSON ON PROTECTING SMALL LENDER ACCESS TO THE SECONDARY MORTGAGE MARKET

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Protecting Small Lender Access to the Secondary Mortgage Market." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "Today we discuss a housing finance reform issue that is a top priority for many members of this Committee, especially those from rural states-small lender access to the secondary mortgage market. While ther… Continue Reading


October 31, 2013

JOHNSON STATEMENT FOLLOWING MEETING WITH FEDERAL RESERVE CHAIRMAN NOMINEE JANET YELLEN

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement following a meeting with Dr. Janet L. Yellen, the President's nominee to be the next Chairman of the Board of Governors of the Federal Reserve System. "This afternoon, I had the opportunity to meet with Dr. Yellen. Our conversation reaffirmed that President Obama has picked an outstanding nominee to serve as the next Federal Reserve Chairman. Dr. Yellen is regarded as one of the pre-eminent economists of o… Continue Reading


October 31, 2013

JOHNSON STATEMENT ON CONGRESSMAN WATT VOTE

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) today released the following statement after the nomination of Congressman Mel Watt to serve as the Director of the Federal Housing Finance Agency was blocked from getting an up-or-down vote. "It is disappointing that a sitting member of Congress with over 40 years of relevant experience was denied an up-or-down vote by a minority of Senators today. It is not a secret that this vote was pure obstructionist politics at play. Th… Continue Reading


October 31, 2013

JOHNSON STATEMENT ON THE NEED FOR A GOVERNMENT GUARANTEE IN HOUSING FINANCE REFORM

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Essential Elements of a Government Guarantee for Mortgage-Backed Securities." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. "I would like to thank our witnesses for joining us to explore one of the fundamental questions of housing finance reform - the structure of the government guarantee for mortgage-backed securities.… Continue Reading


October 30, 2013

JOHNSON FLOOR STATEMENT CALLING ON THE SENATE TO CONFIRM REP. MEL WATT TO HEAD THE FHFA

WASHINGTON - This afternoon, Senate Banking Committee Chairman Tim Johnson (D-SD) took to the Senate Floor to call on his colleagues to confirm Congressman Mel Watt as the Director of the Federal Housing Finance Agency. Below are Chairman Johnson's remarks as prepared for delivery. "Mr. President, I rise to speak in support of Congressman Mel Watt to serve as Director of the Federal Housing Finance Agency. "It has been over 5 years since the FHFA's inception and it still has never ha… Continue Reading


October 29, 2013

JOHNSON OPENING STATEMENT ON HOUSING FINANCE REFORM: ESSENTIALS OF A FUNCTIONING HOUSING FINANCE SYSTEM FOR CONSUMERS

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Essentials of a Functioning Housing Finance System for Consumers." Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "For many Americans, homeownership is a life-long dream and is often the biggest purchase a consumer will ever make. However, as became clear during the financial crisis, consumers face a comp… Continue Reading


October 29, 2013

JOHNSON STATEMENT ON MEL WATT

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) today released the following statement on cloture being filed on the nomination of Congressman Mel Watt to head the Federal Housing Finance Agency. "There is no legitimate reason Mel Watt should not be confirmed as the Director of the Federal Housing Finance Agency, and I look forward to the Senate vote on his nomination later this week. It is important to fill this role as soon as we can, so the agency can fully assist in hel… Continue Reading


October 10, 2013

JOHNSON OPENING STATEMENT ON THE IMPACT OF A DEFAULT ON FINANCIAL STABILITY AND ECONOMIC GROWTH

WASHINGTON - Today, Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson (D-SD) held a hearing titled "Impact of a Default on Financial Stability and Economic Growth." Below is Chairman Johnson's statement as prepared for delivery: "Good morning, I call this hearing to order. "This Committee has many important issues to consider, and plenty of challenges our constituents want us to solve together on a bipartisan basis. However, we find ourselves on Day 10 of a go… Continue Reading


October 9, 2013

JOHNSON WELCOMES NOMINATION OF JANET YELLEN TO BE FEDERAL RESERVE CHAIRMAN

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement on the expected nomination of Janet L. Yellen to be the next Chairman of the Board of Governors of the Federal Reserve System. "I commend President Obama on his selection of Dr. Yellen to be the first woman to serve as Federal Reserve Chairman. She has a depth of experience that is second to none, and I have no doubt she will be an excellent Federal Reserve Chairman. In addition to having more than a decad… Continue Reading


October 1, 2013

JOHNSON OPENING STATEMENT ON THE PRIVATE LABEL MORTGAGE BACKED SECURITIES MARKET HEARING

WASHINGTON - Today, Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson (D-SD) held a hearing titled "Housing Finance Reform: Fundamentals of a Functioning Private Label Mortgage Backed Securities Market." Below is Chairman Johnson's statement as prepared for delivery: "Good Morning. I call this hearing to order. "Today we meet to examine the private label mortgage backed securities market, the barriers that exist in the current market that prevent private cap… Continue Reading


September 25, 2013

JOHNSON STATEMENT AT TERRORISM RISK INSURANCE HEARING

WASHINGTON - Today, Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson (D-SD) held a hearing titled "Reauthorizing TRIA: The State of the Terrorism Risk Insurance Market." Below is Chairman Johnson's statement as prepared for delivery: "Two weeks ago, we observed the 12th anniversary of the tragic September 11th terrorist attacks on our country. In the aftermath of the tragedy and after suffering steep losses, insurance companies stopped offering terrorism coverage… Continue Reading

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