Minority Press Releases

May 27, 2020

Brown, Colleagues Seek Answers from Trump Administration on the Borrower Protection Program

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 led 7 of his Senate colleagues in a letter requesting additional information on the Borrower Protection Program that the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) announced in April. The agencies’ announcement stated that the CFPB and FHFA would share data under the program but did not say how that data … Continue Reading


May 22, 2020

Brown, Senators Introduce Bill to Prevent Garnishment of Relief Payments

Washington - U.S. Senator Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Senate Finance Committee Chairman Chuck Grassley (R-Iowa), Finance Committee Ranking Member Ron Wyden (D-Ore.) and Sen. Tim Scott (R-S.C.) introduced a bill to protect recovery payments provided in the recent CARES Act pandemic response legislation from garnishment by private debt collectors.“During this public health crisis, we must come together to protect… Continue Reading


May 21, 2020

BROWN, WARREN, REED, COLLEAGUES BLAST JETBLUE, DELTA FOR ACCEPTING FEDERAL CARES ACT BAILOUT FUNDS AND THEN CUTTING EMPLOYEES' HOURS, PAYCHECKS

WASHINGTON D.C. - United States Senators Sherrod Brown (D-OH) Elizabeth Warren (D-MA) and Jack Reed (D-RI), along with Senators Edward J. Markey (D-MA), Kirsten Gillibrand (D-NY), Sheldon Whitehouse (D-RI), Bernie Sanders (I-VT), Robert Menendez (D-NJ), Jeff Merkley (D-OR.), Mazie K. Hirono (D-HI), Brian Schatz (D-HI), Ron Wyden (D-Ore.), and Kamala D. Harris (D-Calif.), sent letters to JetBlue and Delta expressing concern about the companies' decision to cut the hours of their employees a… Continue Reading


May 20, 2020

Brown, Murray, Colleagues Demand Answers from CFPB Director on Agency’s Oversight Plans for the Student Loan Market

U.S. Senator Sherrod Brown (D-OH) - ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, joined U.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Sen. Jack Reed (D-RI), Sen. Chris Van Hollen (D-MD), Sen. Brian Schatz (D-HI),  Sen. Elizabeth Warren (D-MA), Sen. Bob Menendez (D-NJ), and Sen. Tina Smith (D-MN) in sending a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy … Continue Reading


May 20, 2020

Brown Condemns Otting For Rushing Flawed Final CRA Rule As He Plans Agency Exit

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 after the Office of the Comptroller of the Currency (OCC) announced new rules on the Community Reinvestment Act (CRA). Federal Deposit Insurance Corporation (FDIC) did not join in the final rule and the proposed rule did not have the backing of the Federal Reserve Board of Governors. The CRA was enacted to address longstan… Continue Reading


May 19, 2020

Brown, Senate Dems Blast Consumer Financial Protection Bureau (CFPB) Director For Defending The Rulemaking Process For Payday Lending Rule

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. Elizabeth Warren (D-MA), Sen. Dick Durbin (D-IL) and Sen. Tina Smith (D-MN) today sent a letter to the Consumer Financial Protection Bureau (CFPB) after Director Kraninger defended the CFPB’s rulemaking process for the Payday Rule. The Senators again urged the agency to halt work on the current Payday Rule and restart the rulemaking process. T… Continue Reading


May 19, 2020

BROWN FIGHTS FOR ESSENTIAL WORKERS AND THEIR FAMILIES DURING CONGRESSIONAL 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 ‘The Quarterly CARES Act Report to Congress.’Sen. Brown’s remarks, as prepared for delivery, follow:I’d again like to thank Chairman Crapo for following the best advice of health experts, and holding a virtual hearing to prevent the spread of coronavirus.I am still outraged by Leader M… Continue Reading


May 18, 2020

Ahead Of Tuesday’s Hearing, Brown Calls On Trump Administration To Ensure The Main Street Lending Programs Serves Small And Medium-Sized Businesses and Underserved Communities

.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 Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell urging them to avoid the mistakes of the Paycheck Protection Program (PPP), by focusing on small and medium-sized businesses, underserved communities, and improving data collection and transparency. Brown also called for the Trump Administration to incorporate new operational an… Continue Reading


May 14, 2020

Brown Statement On HUD and FHFA Extending Foreclosure Moratoriums for Homeowners 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 - today released the following statement following the announcement that the Department of Housing and Urban Development (HUD) and Federal Housing Finance Agency (FHFA) would extend the suspension of foreclosures on Federal Housing Administration-insured (FHA) and Fannie Mae and Freddie Mac-backed mortgages through June 30, 2020:“I applaud the FHFA and HUD for recognizing th… Continue Reading


May 13, 2020

BROWN APPLAUDS HOUSE FOR INCLUDING KEY PRIORITIES, LIKE HOUSING ASSISTANCE AND CRITICAL CONSUMER PROTECTIONS THAT WILL HELP WORKERS, SMALL BUSINESSES & COMMUNITIES STRUGGLING AMID PANDEMIC

WASHINGTON, DC - U.S. Sen. Sherrod Brown (D-OH), ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, today applauded the House of Representatives for its Heroes Act, which includes several key priorities and much-needed relief for hardworking Americans, small businesses, and impacted communities. The Heroes Act provides housing assistance, critical consumer protections, and small business relief.Brown urged Sen. Mitch McConnell to bring this bill to the Se… Continue Reading


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

Showing page   of 64