Minority Press Releases

July 11, 2013

JOHNSON STATEMENT ON SYSTEMIC RISK OVERSIGHT HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Mitigating Systemic Risk Through Wall Street Reforms." The Committee heard from representatives of the nation's financial regulators and the Department of Treasury about the progress they are making on reform provisions that improve financial stability, mitigate systemic risk and address concerns that any of the nation's largest financial institutions remain "too big to fail. Below is Chairman Joh… Continue Reading


June 25, 2013

JOHNSON STATEMENT ON HOUSING FINANCE REFORM PROPOSAL

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement on the introduction of the Housing Finance Reform and Taxpayer Protection Act. "I thank Senators Corker and Warner for furthering the discussion and debate surrounding housing finance reform with this proposal," said Chairman Johnson. "Reforming the nation's housing finance system is critical to the long-term health and stability of the American economy, and Ranking Member Crapo and I plan to turn t… Continue Reading


June 25, 2013

JOHNSON STATEMENT ON PRIVATE STUDENT LOAN HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Private Student Loans: Regulatory Perspectives." Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "For many Americans, a college degree is an important goal that can mean a lifetime of better earnings and opportunities. However, this goal has come at a higher price: the cost of education has risen significantly while the job m… Continue Reading


June 13, 2013

JOHNSON STATEMENT ON COMMUNITY BANK HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Lessons Learned From the Financial Crisis Regarding Community Banks." Below is Chairman Johnson's statement as prepared for delivery: "Today we will discuss three recent studies on community banks. The GAO's study, "Causes and Consequences of Recent Bank Failures," the FDIC Inspector General's "Comprehensive Study on the Impact of the Failure of Insured Depository Institutions," and the "FDIC… Continue Reading


June 6, 2013

JOHNSON AND CRAPO APPLAUD COMMITTEE PASSAGE OF INSURANCE LICENSING BILL

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) applauded the unanimous voice vote in Committee approving S. 534, the National Association of Registered Agents and Brokers Reform Act of 2013, also known as NARAB II. The bill will now be sent to the full Senate for approval. "This bill is a true bipartisan product, with ideas and contributions from Committee members on both sides of the aisle," said Chairman Johnson. "The bill is a signif… Continue Reading


June 6, 2013

JOHNSON STATEMENT ON COMMITTEE APPROVAL OF NOMINATION OF FRED HOCHBERG

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a committee vote on the nomination of Fred Hochberg to be President of the Export-Import Bank of the United States. Mr. Hochberg was approved in a bipartisan vote of 20-2, and his nomination will now be sent to the full Senate for approval. "With Fred Hochberg as President, the Ex-Im Bank has set new records in financing the export of U.S. goods and services around the world. Last year, the Bank helped support more… Continue Reading


June 4, 2013

JOHNSON STATEMENT ON IRAN SANCTIONS OVERSIGHT HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Iran Sanctions: Ensuring Robust Enforcement and Assessing Next Steps." Below is Chairman Johnson's statement as prepared for delivery: "Good morning, I call this hearing to order, and I welcome my colleagues and our witnesses. "Today's hearing is part of our oversight efforts to ensure effective enforcement of the Iran sanctions regime overseen by this committee. We will assess what addi… Continue Reading


May 21, 2013

JOHNSON STATEMENT ON FINANCIAL STABILITY HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the Financial Stability Oversight Council's Annual Report to Congress. Below is Chairman Johnson's statement as prepared for delivery: "Today we welcome Treasury Secretary Jack Lew to the Committee for the first time since he was confirmed. "While this Committee lacks jurisdiction over the IRS, I must personally express my sincere disappointment and anger regarding the recent revelation that … Continue Reading


May 1, 2013

JOHNSON LAUDS EXPECTED NOMINATION OF REP. MEL WATT TO HEAD FHFA

Chairman Johnson Lauds President Obama's Expected Nomination of Rep. Mel Watt to Head the FHFA WASHINGTON - Senate Banking Committee Chairman Tim Johnson released the following statement applauding President Obama's expected nomination of Representative Mel Watt to be the Director of the Federal Housing Finance Agency. "Mel Watt is a superb pick to lead the FHFA. The agency has an important role to play in helping stabilize the housing market as our economy continues to recover from the… Continue Reading


April 23, 2013

JOHNSON STATEMENT ON CFPB OVERSIGHT HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the Consumer Financial Protection Bureau's Semi-Annual Report to Congress. The Committee heard from CFPB Director Richard Cordray. Below is Chairman Johnson's statement as prepared for delivery: "Good morning. I call this hearing to order. "We have reviewed the CFPB's Semi-Annual Report and are here today to conduct regular oversight of the CFPB. This includes making sure that the agency cont… Continue Reading


April 8, 2013

CHAIRMAN JOHNSON LAUDS SENATE CONFIRMATION OF MARY JO WHITE

Senate Committee on Banking, Housing, and Urban Affairs For Immediate Release Contact: Sean Oblack/Sam Gilford, 202-224-7391 Chairman Johnson Lauds Senate Confirmation of Mary Jo White WASHINGTON - Senate Banking Committee Chairman Tim Johnson released the following statement after the Senate confirmed Mary Jo White to be a commissioner of the Securities and Exchange Commission. Ms. White was approved by the Senate by unanimous consent, and President Obama has said he will name her C… Continue Reading


March 28, 2013

JOHNSON HIGHLIGHTS PUBLIC TRANSIT IN SOUTH DAKOTA FIELD HEARING

Senate Committee on Banking, Housing, and Urban Affairs For Immediate Release Thursday, March, 28, 2013 Contact: Sean Oblack/Sam Gilford, 202-224-7391 Senator Johnson Highlights Importance of Public Transportation and Federal Transportation Investment at Field Hearing in South Dakota Sioux Falls, SD - Today, Senator Tim Johnson, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, held a field hearing in Sioux Falls to discuss the importance of public transportation… Continue Reading


March 19, 2013

JOHNSON STATEMENT ON HOUSING FINANCE REFORM HEARING

WASHINGTON - Today, Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson (D-SD) held a hearing titled "Bipartisan Solutions for Housing Finance Reform?" The hearing was an opportunity for the Committee to hear from housing finance experts to explore potential areas of bipartisan agreement. Below is Chairman Johnson's statement as prepared for delivery: "Last Congress, the Banking Committee held 18 hearings regarding housing finance reform and suggestions for improving… Continue Reading


March 12, 2013

JOHNSON STATEMENT ON CONFIRMATION HEARING FOR RICHARD CORDRAY & MARY JO WHITE

Johnson Statement on Confirmation Hearing for Richard Cordray and Mary Jo White WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the nominations of Richard Cordray, to be Director of the Consumer Financial Protection Bureau, and Mary Jo White, to be a member of the Securities and Exchange Commission. A vote on the nominees will be scheduled for a later date. Below is Chairman Johnson's statement as prepared for delivery: "I call this hearing … Continue Reading


March 7, 2013

JOHNSON STATEMENT ON ANTI-MONEY LAUNDERING HEARING

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement." The hearing continued the Committee's oversight of the administration of the Bank Secrecy Act and its anti-money laundering rules ("BSA/AML"). Illicit flows of money through the financial system have been linked to international drug trafficking organizations, terrorist groups, and sanctioned nations such as Iran and Nort… Continue Reading


February 28, 2013

JOHNSON STATEMENT ON CONFIRMATION OF JACK LEW TO BE TREASURY SECRETARY

WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) issued the following statement after the Senate confirmed Jack Lew to be Treasury Secretary. "I congratulate Jack on his confirmation and I have no doubt that we will work well together during this critical time for our nation's economy," said Chairman Johnson. "Jack is a dedicated public servant who is well-qualified and has the right temperament to succeed as Treasury Secretary. I look forward to Secretary Lew coming before… Continue Reading


February 26, 2013

JOHNSON STATEMENT ON SEMIANNUAL MONETARY POLICY REPORT

WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the Federal Reserve Bank's Semiannual Monetary Report to the Congress. The Committee heard from Federal Reserve Chairman Ben Bernanke. Below is Chairman Johnson's statement as prepared for delivery: "The Committee will come to order. "Today's hearing is with Chairman Bernanke on the Federal Reserve's Monetary Policy Report to Congress. While progress toward maximum employment has been slow, it… Continue Reading


February 14, 2013

DEMOCRATS STAND WITH PRESIDENT OBAMA ON CORDRAY NOMINATION

Democrats Stand with President Obama on Cordray Nomination WASHINGTON, DC - Today, Senate Majority Leader Harry Reid and Senate Banking Committee Chairman Tim Johnson (D-SD) spearheaded a letter to President Obama, signed by 54 Senate Democrats and Independents, commending him for his support for the Consumer Financial Protection Bureau (CFPB) and for renominating Richard Cordray to be Director. The letter informs the President that a majority in the Senate supports the nomination of Richar… Continue Reading


February 14, 2013

JOHNSON STATEMENT ON WALL STREET REFORM OVERSIGHT HEARING

Johnson Statement on Wall Street Reform Oversight Hearing WASHINGTON - Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing titled "Wall Street Reform: Oversight of Financial Stability and Consumer and Investor Protections." The Committee heard from representatives of the nation's financial regulators and the Department of Treasury, and discussed the state of Wall Street Reform implementation. Below is Chairman Johnson's statement as prepared for delivery: "The… Continue Reading


February 13, 2013

JOHNSON AND CRAPO URGE REGULATORS TO ADDRESS CONCERNS ON BASEL III

Johnson and Crapo Urge Regulators to Address Concerns on Basel III WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) sent a letter to the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation, regarding recent proposals to strengthen capital standards and implement the Basel III framework. The letter urged the regulators to carefully consider the impact of the proposals on community b… Continue Reading

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