Minority Press Releases

April 8, 2020

Brown Statement Regarding The Fed’s Decision To Lift Wells Fargo’s Asset Cap

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 news that the Federal Reserve intends to lift the cap on growth placed on Wells Fargo after their fake account scandal:“The Federal Reserve’s decision to lift Wells Fargo’s asset cap is troubling. Wells Fargo has demonstrated it is too large to manage, and time and time again that it can’t be trusted to do right by their custom… Continue Reading


April 7, 2020

Brown Statement Regarding The Trump Administration’s Decision To Oust Glenn Fine As Chair Of The Pandemic Response Accountability Committee

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 news that the Trump Administration has removed Glenn Fine from his post as Chair of Pandemic Response Accountability Committee: “In another erratic move by the President, the Inspector General he appointed two weeks ago to oversee the pandemic response has now been removed. This inexplicable action raises even more ques… Continue Reading


April 7, 2020

Brown, Senate Dems Blast Consumer Financial Protection Bureau (CFPB) Director For Not Doing More to Protect Consumers During the Coronavirus Pandemic

U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sen. Brian Schatz (D-HI), Sen. Chris Van Hollen (D-MD), Sen. Elizabeth Warren (D-MA) and Sen. Jack Reed (D-RI) today sent a letter to the Director of the Consumer Financial Protection Bureau (CFPB) urging her to cease carrying out the Trump Administration’s deregulatory agenda and instead focus on providing relief for hardworking Americans during this economic crisis.  “In t… Continue Reading


April 6, 2020

BROWN, DURBIN TO FINANCIAL REGULATORS: PROTECT CONSUMERS FROM PREDATORY LENDING PRACTICES DURING COVID-19 PANDEMIC

WASHINGTON, D.C. - Amid the COVID-19 pandemic, U.S. Senators Sherrod Brown (D-OH) and Dick Durbin (D-IL) today pressed the nation’s top financial regulators to issue guidance and lending principles that include a heightened emphasis on protecting our nation’s ailing small businesses and consumers from predatory lending practices. In a letter to Jerome Powell, Chair of the Board of Governors of the Federal Reserve System; Kathleen Kraninger, Director of the Consumer Financial Protection Bu… Continue Reading


April 4, 2020

Brown Statement On President Trump’s Intention To Nominate Brian Miller For Special Inspector General For Pandemic Recovery (SIGPR)

“Inspectors General have historically been apolitical- the White House’s decision to nominate Brian Miller, a White House Lawyer, is troubling. I fought for increased oversight in the CARES Act because Congress must hold the Trump administration accountable for how they administer these programs and guarantee that corporations getting taxpayer money put their workers first. I question whether Mr. Miller is able to do that. Mr. Miller will be called upon to answer how he will ensure he is i… Continue Reading


April 4, 2020

Brown Blasts Zoom Video Communications For Inaccurately Advertising Their End-To-End Encryption Capabilities; Calls For The Federal Trade Commission (FTC) To Investigate

  U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - yesterday sent letters to Zoom Video Communications, Inc. and the Federal Trade Commission (FTC) about the company’s virtual meeting technology, including concerns that Zoom may have engaged in deceptive practices by inaccurately advertising end-to-end encryption of its virtual meetings, putting consumers’ information and privacy at risk. Brown called for the FTC to init… Continue Reading


April 3, 2020

Brown Statement On The Fed’s Decision to Relax Leverage Ratio Requirements

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 today following news that the Federal Reserve intends to further relax leverage ratio requirements: “The leverage ratio was put in place because regulators proved time and time again they were bad at estimating banks’ risks, and leverage ratios don’t require making complicated predictions. Right now as we deal with the economic fallo… Continue Reading


April 3, 2020

Brown, Senate Democrats Call On Mnuchin To Ensure That Direct Payments Go To Hardworking Americans Not To Predatory Debt Collectors

U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, Urban Affairs, Sen. Ron Wyden (D-OR), Ranking Member of the U.S. Senate Committee on Finance, and Senator Elizabeth Warren (D-MA), Ranking Member of the Financial Institutions And Consumer Protection Subcommittee, today called for Secretary Mnuchin to act immediately to ensure that Americans receive the full amount of their direct payments, provided for by Congress in the Coronavirus Aid, Relie… Continue Reading


April 1, 2020

As Americans Get Their Rent And Mortgage Bills, Brown Pushes For More Help For Homeowners And Renters During Coronavirus Pandemic

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 today (April 1st) when rent and mortgage payments are due for millions of households whose jobs have been affected by the COVID-19 (coronavirus) pandemic.“Many Americans have their rent and mortgage payments due today. Too many won’t have the income to pay them. This pandemic is a painful reminder of how vulnerable millions of workers are t… Continue Reading


March 31, 2020

Brown, Senate Democrats Call On Mnuchin To Defend The Creation Of A Special Inspector General For Pandemic Recovery (SIGPR) From Being Undermined By The Trump Administration

U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, Urban Affairs, Sen. Ron Wyden (D-OR), Ranking Member of the U.S. Senate Committee on Finance, and Senate Democratic Leader Charles Schumer (D-NY) today sent a letter to Secretary Mnuchin raising the alarm regarding President Trump’s signing statement for the “Coronavirus Aid, Relief, and Economic Security Act” (the CARES Act). The President’s signing statement indicated that the administration … Continue Reading


March 31, 2020

Menendez, Colleagues Urge Google Subsidiary Verily to Protect User Data, Expand Access to COVID-19 Screening Websites

WASHINGTON, D.C. - U.S. Senator Bob Menendez (D-N.J.), a senior member of the Senate Finance Committee that sets national health policy, today led a group of colleagues in sending a follow-up letter requesting more information from Google subsidiary Verily Life Sciences. The Trump Administration announced on March 13, 2020 that it was working with the company to create a coronavirus screening website.The Senator’s inquiry comes a day after Verily announced it was expanding its pilot prog… Continue Reading


March 27, 2020

Brown, Senate Democrats Press Trump Administration on Failure to Help States with Dire Medical Supply Shortages

(Washington, D.C.) - Yesterday, U.S. Senator Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joinedU.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Senator Ron Wyden (D-OR), ranking member of the Senate Finance Committee, Senator Gary Peters (D-MI), ranking member of the Senate Homeland Security and Governmental Affairs Committee, Senator Catherine Cortez Masto… Continue Reading


March 26, 2020

BROWN VOTES FOR CORONAVIRUS STIMULUS BILL TO SEND IMMEDIATE RELIEF TO WORKERS, VOWS TO FIGHT FOR OVERSIGHT & FURTHER PROTECTIONS FOR OHIOANS

WASHINGTON, D.C. - Today, U.S. Sen. Sherrod Brown (D-OH) voted to pass the Coronavirus stimulus bill that would send immediate relief to our health care system and to American workers struggling as a result of the pandemic. Brown has been fighting to put assistance directly in the pockets of workers, expand Unemployment Insurance, provide the resources and personal protective equipment (PPE) our frontline health care workers need, and more. After President Trump and the Senate GOP produce… Continue Reading


March 24, 2020

Brown Introduces New Legislation To Help Hardworking Americans In The Coronavirus Relief Package

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 introduced legislation that will help hardworking Americans recover from the Coronavirus pandemic. Specifically, Brown called on his colleagues to include his new proposal, which would allow Americans to set up a free bank account that could be used to receive any direct stimulus payments related to coronavirus relief.“At the height of this pandemic w… Continue Reading


March 22, 2020

Brown, Senate Democrats Introduce New Legislation To Protect Consumers And Small Business Owners From Debt Collection

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, and Senators Elizabeth Warren (D-MA), and Cory Booker (D-NJ) introduced new legislation that would provide much needed relief to small business owners and consumers dealing with the financial fallout of the Coronavirus pandemic. The bill would specifically provide protections to small businesses and consumers from collections efforts by creditors a… Continue Reading


March 22, 2020

CORONAVIRUS: Brown, Booker File Legislation to Temporarily Ban Overdraft Fees

WASHINGTON, D.C. - When the Senate floor opens at 5PM ET today, U.S. Senators Sherrod Brown (D-OH) and Cory Booker (D-NJ) will file legislation to temporarily ban exploitative bank overdraft fees for the duration of the Coronavirus public health emergency. Banks charge such fees to consumers when they make a purchase or pay a bill but don’t have sufficient funds in their account; typically the charge is $35.Today’s bill builds on more comprehensive legislation the two Senators have co-au… Continue Reading


March 22, 2020

ICYMI: Brown, Van Hollen Announce Legislation to Cap Consumer Lending Rates During COVID-19 Outbreak

WASHINGTON - U.S. Senators Sherrod Brown (D-Ohio) and Chris Van Hollen (D-Md.) announced legislation to temporarily cap consumer lending rates, also known as usury rates, at 36 percent during the COVID-19 outbreak. The Senators also urged leadership to include this cap within the phase three coronavirus emergency package. The legislation, as described in their letter below, would amend the Military Lending Act to extend to all consumers the credit protections provided to members of the A… Continue Reading


March 19, 2020

Brown Calls On Debt Collectors To Help Hard Working Americans During the Coronavirus Pandemic

U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs recently sent letters calling on debt collectors to alleviate the economic fallout American families are facing as a result of the Coronavirus pandemic by: suspending all collection activity, postponing or dismissing any pending court proceedings, not filing new lawsuits, ceasing to accrue interest on balances due, contacting consumers on automatic payment plans, and offering… Continue Reading


March 18, 2020

Brown Blasts FDIC For Approving New Industrial Bank Charters During Coronavirus Pandemic

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 Federal Deposit Insurance Corporation (FDIC) approved charters for two industrial loan companies (ILCs).“Now more than ever I’m more worried about Washington’s collective amnesia; we are on the brink of another recession that will hurt hardworking families across the country. Just before the last crisis, regulators gutted financia… Continue Reading


March 18, 2020

Brown Statement On News That Fannie, Freddie Will Offer Borrower Relief

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 news that Fannie and Freddie would suspend foreclosures and offer borrowers relief.“Fannie Mae and Freddie Mac are doing what everyone should be doing - offering borrowers relief if they fall behind on their payments during this pandemic and giving them tools to get back on track when it’s over. Every homeowner should have the sam… Continue Reading

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