Senate Banking Committee

Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

Senate Banking Chairman Sherrod Brown said he and Majority Leader Chuck Schumer are pushing to confirm all four Federal Reserve nominees this week, but doing so will require Republican cooperation.

Senate Banking Chair Sherrod Brown said Thursday he expects a Senate vote next week to confirm President Biden’s Federal Reserve nominees, though the timing may be affected by GOP opposition to Lisa Cook, who would be the first Black woman on the Board of Governors.

Senate Banking Committee Chairman Sherrod Brown and other Democratic senators called on Thursday for regulators to investigate Wells Fargo’s treatment of Black homeowners seeking to refinance mortgages during the pandemic. 

All five of the Biden administration's nominees received enough votes to secure passage to the Senate floor. Chair Sherrod Brown of Ohio called the moment "historic."

Sarah Bloom Raskin’s nomination to be Federal Reserve vice chair of supervision has been dealt another blow as key Senate Democrat Joe Manchin suggested President Biden’s other four central bank nominees move forward without her. 

The White House is rejecting Republican demands to split up its nominees to the Federal Reserve, with President Biden’s spokeswoman telling GOP lawmakers to show up and vote no on Sarah Bloom Raskin rather than further stalling consideration.

Senate Banking Chair Sherrod Brown said Thursday he will try again next week to advance President Biden’s five Federal Reserve picks past a blockade led by ranking Republican Pat Toomey on Sarah Bloom Raskin’s nomination to vice chair of supervision.

The spots "left out a few things," Sen. Sherrod Brown, Democrat of Ohio, said at a hearing Tuesday.