Minority Press Releases

June 10, 2014

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. Today, we continue our regular oversight of the CFPB. In the three years since the CFPB opened its doors, it has had a noticeable impact on nearly every aspect of the cons… Continue Reading


June 4, 2014

JOHNSON STATEMENT ON CFTC CONFIRMATIONS

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the below statement on the Senate voting to confirm three U.S. Commodity Futures Trading Commission (CFTC) members: Chairman Timothy Massad, Commissioner J. Christopher Giancarlo and Commissioner Sharon Bowen. "I would like to congratulate Tim Massad, Sharon Bowen and Chris Giancarlo on being confirmed today by the Senate to serve on the Commodity Futures Trading Commission, and I am glad the CFTC once again has a ful… Continue Reading


June 3, 2014

SENATE BANKING COMMITTEE PASSES TRIA REAUTHORIZATION

Washington, DC - Today, the Senate Banking Committee approved S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, by a unanimous vote of 22-0. This bill extends the existing TRIA program for seven years while taking steps to further protect taxpayers. "I am pleased today that the Banking Committee unanimously supported this important bipartisan bill," said Johnson. "This seven year extension of TRIA will continue to help promote economic growth and provide certainty fo… Continue Reading


June 3, 2014

CHAIRMAN JOHNSON STATEMENT AT THE TRIA MARKUP

Washington, DC - Today, Chairman Tim Johnson (D-SD) held a markup on S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014. This bill extends the current TRIA program for seven years while taking steps to further protect taxpayers. Below is Chairman Johnson's Statement as Prepared for Delivery. "I call the Committee to order and move to executive session. "We will now consider S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, offered by Se… Continue Reading


May 15, 2014

SENATE BANKING COMMITTEE PASSES BIPARTISAN HOUSING FINANCE REFORM LEGISLATION

Washington, DC - Today, the Senate Banking Committee approved S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2013, by a bipartisan vote of 13-9. The legislation included a bipartisan agreement drafted by Chairman Johnson and Ranking Member Crapo and is designed to stabilize the housing finance market and strengthen the American economy. It will create greater competition in the housing finance system and reduce risk to the taxpayer while ensuring affordable, fair access to al… Continue Reading


May 15, 2014

JOHNSON STATEMENT AT THE HOUSING FINANCE REFORM MARKUP

Washington, DC - Today, Chairman Tim Johnson (D-SD) resumed consideration of S. 1217, the Housing Finance Reform and Taxpayer Protection Act of 2013. The legislation being marked up included a bipartisan agreement drafted by Chairman Johnson and Ranking Member Crapo and is designed to stabilize the housing finance market and strengthen the American economy. It will create greater competition in the housing finance system and reduce risk to the taxpayer while ensuring affordable, fair access to a… Continue Reading


April 29, 2014

BANKING COMMITTEE CONFIRMS KEY NOMINEES

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on the Committee's approval of several key nominations. The Committee approved the nominations of Dr. Stanley Fischer, to be a Member and Vice Chairman of the Board of Governors of the Federal Reserve System by voice vote; The Honorable Jerome H. Powell, to be a Member of the Board of Governors of the Federal Reserve System by voice vote; The Honorable Lael Brainard, to be a Member of the Board of … Continue Reading


April 29, 2014

JOHNSON STATEMENT AT THE START OF THE HOUSING FINANCE REFORM MARKUP

Washington, DC - Today, Chairman Tim Johnson (D-SD) kicked off consideration of bipartisan Housing Finance Reform. However, at the request of some of the Members of the Committee for more time Chairman Johnson agreed to recess the markup for a short period while Members continue to work on finding additional common ground. Below is Chairman Chairman Johnson's Statement as Prepared for Delivery. "We will now move to the consideration of S. 1217, the Housing Finance Reform and Taxpayer Pro… Continue Reading


March 28, 2014

JOHNSON, CRAPO ANNOUNCE HOUSING FINANCE REFORM MARKUP

Washington, DC - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) announced the Committee will markup bipartisan housing finance reform on Tuesday, April 29, 2014 at 10:00 A.M. "After canvassing other Members of the Committee, we plan to schedule a markup of our bipartisan housing finance reform proposal on Tuesday, April 29th," said Chairman Johnson. "From the start, Members of the Committee have been extremely engaged on the issue and have de… Continue Reading


March 16, 2014

JOHNSON, CRAPO RELEASE HOUSING FINANCE REFORM TEXT

Washington, DC - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) released the legislative text of the bipartisan housing finance reform agreement that they announced last Tuesday. That announcement sparked enthusiasm from the White House, Senators, Members of Congress and key stakeholders recognizing the agreement as a positive step forward in reforming our housing finance system. Chairman Johnson and Ranking Member Crapo plan to hold a committee … Continue Reading


March 13, 2014

JOHNSON HOLDS CONFIRMATION HEARING FOR FIVE NOMINATIONS

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a confirmation hearing for Dr. Stanley Fischer, to be a Member and Vice Chairman of the Fed Board of Governors; The Honorable Jerome H. Powell and the Honorable Lael Brainard, to be Members of the Fed Board of Governors; Mr. Gustavo Velasquez Aguilar, to be an Assistant Secretary of the Department of Housing and Urban Development; and Mr. J. Mark McWatters, to be a Member of the National Credit Union Administration Boa… Continue Reading


March 11, 2014

JOHNSON, CRAPO ANNOUNCE AGREEMENT ON HOUSING FINANCE REFORM

Washington, DC - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) announced that they have reached an agreement on a housing finance reform proposal. Last fall, the Senate Banking Committee hosted an in-depth series of hearings exploring essential elements necessary for reform and over the past few months they have been negotiating and drafting the reform proposal. The bipartisan agreement includes measures from Committee Members on both sides of t… Continue Reading


February 27, 2014

JOHNSON STATEMENT ON MONETARY POLICY HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the Federal Reserve's Semiannual Monetary Policy Report to Congress. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. We welcome Dr. Janet Yellen as Chair to deliver the Federal Reserve's semiannual Monetary Policy Report. Chair Yellen, I would like to congratulate you on your nomination and confirmation. In fact, this month's hearings are historic-the… Continue Reading


February 25, 2014

JOHNSON HOLDS HEARING ON THE STATE OF THE TERRORISM RISK INSURANCE MARKET

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Reauthorizing TRIA: The State of the Terrorism Risk Insurance Market, Part II." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Today, we hold our second hearing on reauthorizing TRIA and the state of the terrorism risk insurance market. "At our first hearing last Fall, we heard testimony from experts who reminded the Committee of the history … Continue Reading


February 6, 2014

JOHNSON OPENING STATEMENT ON WALL STREET REFORM OVERSIGHT AND DATA SECURITY

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Oversight of Financial Stability and Data Security." Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Today, the Committee continues its oversight of the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. There has been good progress since our last hearing, including the completion of the long-awaited "Volcker Rule". I… Continue Reading


February 5, 2014

JOHNSON, CRAPO CONTINUE WORK ON HOUSING FINANCE REFORM

Washington, DC - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) issued the following statement regarding their bipartisan effort to draft comprehensive housing finance reform. "With the hearing and information-gathering stage behind us, our hard work continues as we dive deep into the drafting and negotiating phase of Housing Finance Reform. Our goal from the start has been to produce the strongest bipartisan bill possible-a bill that will st… Continue Reading


January 28, 2014

JOHNSON HOLDS HEARING ON THE EXPORT-IMPORT BANK

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Oversight and Reauthorization of the Export-Import Bank of the United States." The Ex-Im Bank supports billions in exports, creates and supports hundreds of thousands of American jobs and often turns a profit for the taxpayer. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing to order. Today, the Committee again welcomes the Chairman and President of the Expo… Continue Reading


January 16, 2014

JOHNSON REVIEWS PUBLIC TRANSPORTATION UNDER SURFACE TRANSPORTATION LAW

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Progress Report on Public Transportation under MAP-21." Below is Chairman Johnson's statement as prepared for delivery: "This hearing will come to order. Today the Banking Committee seeks to review how public transportation and the federal programs that assist our nation's transit providers have advanced since the current surface transportation law, MAP-21, was enacted in 2012. This Committee … Continue Reading


January 15, 2014

JOHNSON LAUDS VOLCKER RULE FIX

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the below statement following an announcement by financial regulators that they have approved an interim final rule to address an issue in the Volcker rule that could have forced community banks to write-down and sell collateralized debt obligations backed by Trust Preferred Securities (TruPS). "The Volcker Rule was designed to prohibit large banks from making risky proprietary trades with federally insured deposits. … Continue Reading


December 19, 2013

JOHNSON, CRAPO FILE REPORT ON FHA SOLVENCY BILL

Washington, D.C. - Banking Committee Chairman Tim Johnson and Ranking Member Mike Crapo today issued the following remarks after filing the report on the Federal Housing Administration (FHA) Solvency Act of 2013 (S. 1376). According to the Congressional Budget Office, the bill would reduce federal discretionary spending by more than $500 million over a five-year period of time while forcing the FHA to build up to a 3 percent capital ratio. Last week, the FHA released its independent financial … Continue Reading

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