Minority Press Releases

May 13, 2020

Brown, Menendez, and Smith Call on Trump Administration to Ensure that Lenders are not Shorting Small Businesses on PPP Loans

U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs - and Banking Committee members Sen. Bob Menendez (D-NJ) and Sen. Tina Smith (D-MN) today sent a letter to Treasury Secretary Steven Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza urging them to provide answers and clarity to small businesses regarding Paycheck Protection Program (PPP) loan amounts. The Senators cited recent press reports where … Continue Reading


May 12, 2020

Transcript: Brown’s Remarks During Executive Session On the Nominations of Brian Miller and Dana Wade

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 delivered remarks during an Executive Session to consider the nominations of Brian Miller to be Special Inspector General for Pandemic Recovery(SIGPR), and Dana Wade to be Assistant Secretary, U.S. Department of Housing and Urban Development. A transcript is below:Thank you Mr. Chairman.The Committee will vote in person on two nominees for positio… Continue Reading


May 12, 2020

Brown Demands Financial Regulators Do More To Protect Workers and the Economy During and After the Coronavirus Pandemic

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 of Financial Regulators.’ Sen. Brown’s remarks, as prepared for delivery, follow: I’d like to thank Chairman Crapo for following the best advice of health experts, recognizing the importance of our actions and example in this moment, and facilitating a hearing that will mi… Continue Reading


May 8, 2020

Brown, Waters, Heck Introduce Legislation to Help Renters During the Coronavirus Pandemic

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congressman Denny Heck (D-WA) today announced new legislation, the Emergency Rental Assistance and Rental Market Stabilization Act of 2020. The bill was introduced in the House and Brown will soon introduce a companion bill in the Senate. The bills would establ… Continue Reading


May 5, 2020

BROWN PRESSES SPECIAL INSPECTOR GENERAL FOR PANDEMIC RECOVERY (SIGPR) NOMINEE ON HIS INDEPENDENCE AND ABILITY TO HOLD THE TRUMP ADMINISTRATION ACCOUNTABLE

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 the nominations of Brian D. Miller to be Special Inspector General for Pandemic Recovery, U.S. Department of the Treasury; and Dana T. Wade to be Assistant Secretary, U.S. Department of Housing and Urban Development.Sen. Brown’s remarks, as prepared for delivery, follow:Thank you, Mr. Chairma… Continue Reading


May 4, 2020

Brown, Colleagues Urge The CFPB To Halt Work On The Payday Rule And Restart The Rulemaking Process

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 joined 11 of his Senate colleagues in sending a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger urging her to immediately halt work on the Payday Rule. The Senators cited press reports that extensively detail improper interference and manipulation of the rulemaking process for the Payday Rule by political appointees at … Continue Reading


May 1, 2020

Brown Urges Trump Administration to Prioritize American Manufacturers of Critical Personal Protection Equipment

U.S. Sen. Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, today sent a letter to Secretary Mnuchin calling for the Trump Administration to prioritize American manufacturers who produce Personal Protective Equipment (PPE) and medical supplies and equipment in CARES Act lending programs. Senator Brown in his letter made clear that American manufacturers and their workers are vital to the economy, our nation’s security, and our respon… Continue Reading


April 30, 2020

BROWN, SCHATZ CALL ON SBA TO PRIORITIZE SMALLER PPP LOANS

U.S. Sen. Sherrod Brown (D-OH) - Ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Sen. Brian Schatz (D-HI) yesterday called on Treasury Secretary Steven Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza to prioritize smaller banks and smaller loans in the Paycheck Protection Program. “We write to urge you to issue guidance to ensure that the processing and disbursement of Paycheck Protection Program (PPP) loans prioritize … Continue Reading


April 29, 2020

ICYMI: Sens. Brown, Warren, Banking Committee Colleagues Urge Major Mortgage Servicers to Immediately Notify Eligible Homeowners of Protections Available Through CARES Act

Washington, D.C. - United States Senators Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Consumer Protection and Financial Institutions, led a letter to major mortgage servicers -- Wells Fargo, JPMorgan Chase, Mr. Cooper, Bank of America, PennyMac Loan Services, Quicken Loans, Freedom Mortgage, New Residen… Continue Reading


April 29, 2020

Brown, Colleagues Urge the CFPB to Reinstate Vital HMDA Data Collection

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 joined 18 of his Senate colleagues in sending a letter to Consumer Financial Protection Bureau Director Kathy Kraninger urging her to reverse her decisions to suspend the quarterly reporting of information under the Home Mortgage Disclosure Act (HMDA) during the COVID-19 pandemic and halt reporting of all HMDA data for lenders. Eliminating these repor… Continue Reading


April 27, 2020

BROWN, COLLEAGUES URGE MNUCHIN, POWELL TO EXPAND PPP OPPORTUNITIES FOR MINORITY AND UNDERSERVED COMMUNITIES

WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joined U.S. Senators Mark R. Warner (D-VA), Chuck Schumer (D-NY), Jack Reed (D-RI), Bob Menendez (D-NJ), Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Doug Jones (D-AL) in pushing Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell to make sure that minority and low- and moderate-income (LMI) communities get proper access … Continue Reading


April 27, 2020

ICYMI: Brown, Democratic Lawmakers Call On Small Business Administration To Expand Paycheck Protection Program Opportunities For Small, Underserved Businesses

Washington, D.C.— U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joined Senate Democratic Leader Chuck Schumer, House Speaker Nancy Pelosi, Ranking Member of U.S. Senate Committee on Small Business and Entrepreneurship Ben Cardin, House Small Business Committee Chairwoman Nydia Velázquez, and House Financial Services Committee Chairwoman Maxine Waters in a letter to U.S. Treasury Secretary Steven Mnuchin and U.S. Small B… Continue Reading


April 24, 2020

Brown, Schumer, And Cardin Call On SBA Inspector General To Investigate Reports That Some Paycheck Protection Program Lenders Have Prioritized Larger, Wealthier Clients Over Hard-Hit Small Businesses In Urgent Need

Washington, D.C.— U.S. Sen. Sherrod Brown (D-OH), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Senate Democratic Leader Chuck Schumer (D-NY), and Ben Cardin (D-MD), Ranking Member of U.S. Senate Committee on Small Business and Entrepreneurship, yesterday sent a letter to U.S. Small Business Administration (SBA) Inspector General Mike Ware, calling for the immediate investigation of reports that some lenders participating in the SBA’s Paycheck Protect… Continue Reading


April 23, 2020

BROWN URGES FINANCIAL REGULATORS TO ENSURE THAT TEMPORARY SUSPENSIONS OF IMPORTANT FINANCIAL PROTECTIONS DO NOT TURN INTO PERMANENT ROLLBACKS

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 sent a letter to the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) urging regulators that temporary changes to financial safeguards that have long-been on industry wish lists should not become permanent. Senator Brown in his l… Continue Reading


April 21, 2020

BROWN SUPPORTS INTERIM CORONAVIRUS SPENDING PACKAGE TO BOOST FUNDING FOR SMALL BUSINESSES, HOSPITALS AND TESTING CAPACITY

WASHINGTON, DC - U.S. Senator Sherrod Brown (D-OH) today supported the Senate bill to provide additional funding for small businesses, hospitals and increased testing capacity. The bill was passed by unanimous consent and is expected to pass the House of Representatives this week. The bill provides $470 billion, including:- $310 billion for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) o This includes $60 billion for smaller lenders, including $30 … Continue Reading


April 21, 2020

Brown, Warren Proposal to Provide Immediate Relief for Consumers Amid COVID-19

Washington, D.C. - Today, United States Senators Sherrod Brown (D-Ohio), Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Elizabeth Warren (D-Mass.) Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Consumer Protection and Financial Institutions, published a Medium post on their proposal to provide immediate relief to consumers amid the COVID-19 pandemic. They call for the next coronavirus aid package to i… Continue Reading


April 20, 2020

BROWN, SENATORS DEMAND TRANSPARENCY IN FEDERAL RESERVE’S CORPORATE DEBT PURCHASES

WASHINGTON, D.C. - U.S. Senator Sherrod Brown (D-OH) today joined Senate colleagues in calling for transparency in the Federal Reserve’s (“Fed”) efforts to sustain our financial markets during the coronavirus pandemic. Specifically, the Senators urged the Fed to disclose the terms and criteria guiding corporate debt purchases, which will be executed by BlackRock, the world’s largest asset manager, and detailed transaction information. The Senators also called on Fed Chair Jerome H. Powell… Continue Reading


April 20, 2020

Brown, Senate Dems Push Trump Administration To Prioritize Workers In CARES Act Funding Allocations

U.S. Sen. Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Banking Committee members Sen. Jack Reed (D-RI), Sen. Elizabeth Warren (D-MA), Sen. Brian Schatz (D-HI), and Sen. Tina Smith (D-MN) today sent a letter to Treasury Secretary Steven Mnuchin urging the Trump Administration to prioritize workers in CARES Act stimulus lending. Specifically, the lawmakers are calling for Secretary Mnuchin to use his authority to require all t… Continue Reading


April 18, 2020

Brown, Van Hollen, Warren, Schumer Urge Fed to Fix Rules That Block City, County Governments from Receiving DIRECT COVID-19 Relief

WASHINGTON - U.S. Senators Sherrod Brown (D-Ohio), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass), and Chuck Schumer (D-N.Y.) have sent a letter to Federal Reserve (Fed) Chairman Jerome Powell expressing serious concern with the arbitrary population thresholds used to determine eligibility for cities and counties to receive relief under the newly created Municipal Liquidity Facility program. The Senators urged Chairman Powell to expand eligibility for the program, which was authorize… Continue Reading


April 17, 2020

Brown, Booker Urge Banks to Temporarily Ban Burdensome Overdraft Fees

WASHINGTON, D.C. - U.S. Senators Sherrod Brown (D-OH) and Cory Booker (D-NJ) today urged more than a dozen bank CEOs to temporarily ban charging customers burdensome bank overdraft fees during the coronavirus 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. Such fees fall disproportionately on those who are least able to afford them.“We are writing to urge [you] to take step… Continue Reading

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