News Topic: Sherrod Brown
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Brown wants CFPB to investigate reports of Chime account closures
Biden nominates progressive for Treasury financial policy job
GOP senator wants to cut deal on GSE reform. Will Democrats listen?
Senators still can't find common ground on flood insurance reform
Congress's inaction on ILCs, fintech charters worries bankers
Brown sides with small banks in opposing ILCs, fintech charters
Sherrod Brown seeks answers from banks linked to Archegos
Sherrod Brown takes case for digital accounts to resistant bankers
The Ohio Democrat and chairman of the Senate Banking Committee told a virtual gathering of the American Bankers Association that FedAccounts, a plan opposed by industry trade groups, will lead to more bank customers. ]] ... Read full article
Sherrod Brown quickly shifts Senate Banking panel's course
With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs. ... Read full article
Fed digital currency gains steam with Democrats in power
As the Federal Reserve continues to explore issuing a digital U.S. dollar, the Biden administration and key congressional leaders are endorsing the idea as a way to expand banking access for underserved consumers. ... Read full article
Big banks don’t need further relief from capital rule: Warren, Brown
Sens. Elizabeth Warren and Sherrod Brown urged regulators not to give in to industry requests to extend a temporary policy easing compliance with the supplementary leverage ratio. ... Read full article
GOP adds three senators to Banking Committee
Steve Daines of Montana, Bill Hagerty of Tennessee and Cynthia Lummis of Wyoming are joining the panel for the 117th Congress. ... Read full article
New Senate Banking chief sets dramatic change of course
Sen. Sherrod Brown, D-Ohio, said elevating affordable housing issues, examining the financial system through a climate and racial justice "lens" and holding banks accountable for their impact on consumers will be among his priorities. ... Read full article
Banking groups suspend political donations after D.C. riot
Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming ... Read full article
Incoming Dem chair says banking panel will put 'workers' over Wall Street
Sen. Sherrod Brown of Ohio signaled a change in direction for the Banking Committee under Democratic control, on the same day he called for President Trump's ouster after the U.S. Capitol riot. ... Read full article
Waters, Brown urge Mnuchin to halt housing finance reforms
The top Democrats on the House and Senate banking committees urged the Trump administration to pull the plug on any steps to overhaul Fannie Mae and Freddie Mac with the pandemic still taking a toll on the economy. ... Read full article
Toomey's proposal to restrict Fed powers draws Democratic rebuke
The amendment backed by Sen. Pat Toomey and other Republicans to block the central bank from reviving CARES Act lending facilities has emerged as a flashpoint in congressional negotiations over pandemic relief. ... Read full article
The Senate may not flip but Banking Committee is poised for shake-up
If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules ... Read full article
NCUA's Hood to Senate panel: Extend CARES Act provisions for credit unions
The chairman of the National Credit Union Administration said during his limited time in a Senate Banking Committee hearing that he hoped changes to the agency's Central Liquidity Facility would last for the duration of the pandemic. ... Read full article