Minority Press Releases

September 12, 2019

Senate Banking Committee Democrats Demand Capital One Protect Consumers Impacted By Data Breach

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - led Senate Banking Committee Democrats in demanding that Capital One take action to protect the more than 100 million consumers impacted by the March 2019 data breach. In response to the data breach, Capital One promised to provide free credit monitoring and identity protection services to its consumers. As the Senators describe in the letter, Capital On… Continue Reading


September 10, 2019

Brown Opening Statement at Hearing on Housing Finance Reform

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 opening statement at today’s hearing entitled ‘Housing Finance Reform: Next Steps’. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, and thank you to all of our witnesses for being here today. We’re going to hear from the Trump Administration about the “next steps” on housing finance reform, but it’… Continue Reading


September 5, 2019

BROWN TO TRUMP: DO NOT RAISE MORTAGE RATES FOR WORKING FAMILIES

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 - slammed President Trump’s housing finance reform proposal as another industry giveaway that would destabilize the economy, raise mortgage and rent costs and limit access to mortgages for working people across the country.“President Trump’s housing plan will make mortgages more expensive and harder to get. I’m urging the President: Make it easier f… Continue Reading


September 4, 2019

Brown Commends Civil Rights Community's Housing Finance Reform Proposals

WASHINGTON, D.C. — Today, following the release of a letter from civil rights and advocacy organizations on guiding principles of housing finance reform, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs -applauded their work to ensure access to sustainable, affordable rental and homeownership opportunities throughout the housing market. “Civil Rights organizations have laid out a strong plan for an equitable housing market… Continue Reading


September 3, 2019

Brown and Murray Demand Answers From New CFPB Student Loan Ombudsman

Washington, D.C. -U.S. Senator Sherrod Brown (D-OH), ranking member of the Senate Banking, Housing, and Urban Affairs Committee and Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, sent a letter to the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman Robert Cameron demanding answers as to how he will carry his duties in his new role given his potential conflicts of interest from working for the federal s… Continue Reading


August 22, 2019

Brown to White House: Do Not Put Housing Market and Taxpayers At Risk

WASHINGTON, D.C. — Today, following news reports that the Treasury Department has submitted its housing finance reform plan to the White House for the final signoff, U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - warned the Trump Administration that if its housing reform plan fails to protect the housing market and working families it could risk destabilizing the economy. “In March, stakeholders told us what it takes to… Continue Reading


August 20, 2019

Brown Blasts Trump Regulators For Rolling Back Volcker Rule

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - is blasting the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) for giving another gift to Wall Street megabanks by voting to rollback the Volcker Rule. Instead of guarding the taxpayer backstop that protects Americans’ savings, the banking regulators are undoing critical protections put in place after the… Continue Reading


August 14, 2019

Brown Demands Kraninger Protect Consumers and Implement Payment Provision of Payday Rule

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - is demanding that the Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger implement the payment provision of the Payday Rule that was issued by the CFPB in October 2017. The Payday Rule prohibits lenders from attempting to withdraw payments from consumers’ accounts for certain loans after two prior attempts to withdraw funds failed due … Continue Reading


August 5, 2019

Brown Applauds FED Plan for Real-Time Payments System

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - is applauding the Federal Reserve for taking decisive action to develop a new real-time payment and settlement system, called the FedNow? Service, to support faster payments in the United States. “Hardworking American’s shouldn’t have to wait up to three days for a check to clear. Real-time payments will give American’s around the clock access to their mo… Continue Reading


August 2, 2019

Brown Blasts Trump Proposal That Would Weaken Protections for Victims of Housing Discrimination

WASHINGTON, DC - U.S. Senator Sherrod Brown (D-OH) today blasted the Trump administration’s reported proposal that would make it harder for victims of housing discrimination to bring lawsuits forward. The Department of Housing and Urban Development’s 2013 “disparate impact” rule formalized HUD's longstanding prohibition against practices with discriminatory effects under the Fair Housing Act and provided uniform guidance for applying standards across the country. The rule provides a fra… Continue Reading


July 30, 2019

Brown Opening Statement at Regulatory Frameworks For Digital Currencies and Blockchain 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 - delivered the following opening statement at today’s hearing entitled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain.’ Sen. Brown’s remarks, as prepared for delivery, follow: Thank you Chairman Crapo, and welcome to our witnesses. At this committee’s hearing earlier this month, many of us of both parties voiced serious concerns a… Continue Reading


July 29, 2019

Brown, Warren Demand Action Following "Damning' Blankenstein IG 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 - and Senator Elizabeth Warren (D-MA) - Ranking Member of the Banking Subcommittee on Financial Institutions and Consumer Protection - are demanding action from the Department of Housing and Urban Development (HUD), the Consumer Financial Protection Bureau (CFPB), and the CFPB Inspector General following what the Senators call ‘damning’ findings from an in… Continue Reading


July 23, 2019

Brown Opening Statement at Hearing on Cannabis Banking

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 opening statement at today’s hearing entitled ‘Challenges for Cannabis and Banking: Outside Perspectives’.Sen. Brown’s remarks, as prepared for delivery, follow: Thank you Chairman Crapo for holding this hearing, and welcome to our witnesses. Over the past several years, voters and legislatures in nearly every state have, to some… Continue Reading


July 16, 2019

Brown Opening Statement at Facebook 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 - delivered the following opening statement at today’s hearing on Facebook’s Digital Currency.Sen. Brown’s remarks, as prepared for delivery, follow: Facebook is dangerous.Now, Facebook might not intend to be dangerous - but they certainly don’t respect the power of the technologies they are playing with. Like a toddler who has gotten his hands on a book … Continue Reading


July 1, 2019

Senators Demand Answers from HUD for Hiring Eric Blankenstein

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs along with Sens. Bob Menendez (D-NJ), Elizabeth Warren (D-MA), Jack Reed (D-RI), Catherine Cortez Masto (D-NV), Chris Van Hollen (D-MD), are demanding answers on HUD’s hiring practices following press reports that disgraced former CFPB political appointee Eric Blankenstein was hired as Senior Counsel of HUD’s Office of General Counsel, just one month afte… Continue Reading


June 27, 2019

Brown Opening Statement at Banking Committee Hearing on the Reauthorization of the Export Import Bank

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 opening statement at today’s hearing entitled “Oversight and Reauthorization of the Export-Import Bank of the United States”. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for calling this important hearing to discuss the future of the Export-Import Bank. I also want to thank the Chairman fo… Continue Reading


June 26, 2019

Senators Demand HUD Maintain Homeownership Opportunities For Dreamers

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Bob Menendez (D-NJ), ranking member of the Senate Banking Committee’s Housing Subcommittee, Catherine Cortez Masto (D-NV) and Cory Booker (D-NJ) are demanding the Department of Housing and Urban Affairs (HUD) clarify that DACA recipients remain eligible for Federal Housing Administration (FHA)-insured loans, which has been a longstanding practice. This … Continue Reading


June 25, 2019

Brown and Rubio Re-introduce Legislation To Protect Small Business From Predatory Lenders

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 Senator Marco Rubio (R-FL), Chair of the U.S. Senate Committee on Small Business and Entrepreneurship re-introduced legislation to protect small businesses from fly-by-night predatory lenders. “When we let financial predators harm hardworking Americans through scams like confessions of judgment, we undermine the dignity of work,” said Brown. … Continue Reading


June 25, 2019

Brown Opening Statement at Hearing on Fannie, Freddie SIFI Designation

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 opening statement at today’s hearing entitled “Should Fannie Mae and Freddie Mac be Designated as Systemically Important Financial Institutions?”. Sen. Brown’s remarks, as prepared for delivery, follow: Thank you, Mr. Chairman, for holding this hearing and thank you to our witnesses for being here today. Home is at the center o… Continue Reading


June 24, 2019

Brown to NCUA: Unacceptable To Extend Delay On Capital 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 statement on the National Credit Union Administration’s (NCUA) decision to delay the implementation of its risk-based capital rule that protects the credit union system and its members. The NCUA Board approved a proposal to extend the effective date of its risk-based capital rule to January 1, 2022, the second time it has delayed … Continue Reading

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