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  • November 01, 2013

    Speaking at the City Club of Cleveland, Brown said the largest banks in the country have benefited from the government’s “too big to fail” policies at the expense of smaller lending institutions. And, he said, they invest in a wide array of products knowing the government could bail them out if the market turns sour. “If big... Read More
  • November 01, 2013

    — by Mollie Warner
    WASHINGTON - U.S. Sen.Sherrod Brown has announced his plan to reduce unemployment among returning Ohio troops. Currently Ohio's unemployment rate for Iraq and Afghanistan war veterans is at 13.9 percent, which is nearly double the rate for the rest of the state. Since 2002, the number of veterans who receive unemployment has dramatically gone up,... Read More
  • August 28, 2013

    — by Sherrod Brown
    On August 28, 1963, an Ohio River Valley native stood on the marble steps of the Lincoln Memorial with Jewish, Catholic, and Protestant leaders of many ethnicities, races, and ages. They gathered to share their stories – and to call on our country to live up to its ideals. Fifty-years ago, a young, red-haired auto-worker and labor organizer... Read More
  • July 26, 2013

    — by Ian Katz & Cheyenne Hopkins
    A bipartisan group of U.S. senators is introducing legislation that would give the Federal Reserve more flexibility in regulating systemically important insurance companies such as American International Group Inc. (AIG) The Senate bill, whose sponsors include Ohio Democrat Sherrod Brown and Nebraska Republican Mike Johanns, is meant to... Read More
  • July 26, 2013

    — by Bob Ivry
    When the Federal Reserve gave JPMorgan Chase (JPM)approval to trade physical commodities in 2005, it prohibited the bank from expanding into the commodity storage business to minimize its exposure “to additional risks.” Five years later, JPMorgan bought one of the world’s biggest metal warehouse companies. While the Fed... Read More
  • July 26, 2013

    WASHINGTON, D.C. -U.S. Sen. Sherrod Brown, D-Ohio, met Thursday with senior management leaders from India’s Apollo Tyre to urge them to protect Ohio workers and jobs. Apollo Tyre is buying Cooper Tire for more than $2 billion. Cooper has been based in Findlay since 1914. The merger would potentially make Apollo the seventh largest tire... Read More
  • July 25, 2013

    — by Ryan Scott Ottney
    U.S. Sen. Sherrod Brown (D-OH) on Wednesday outlined efforts to crack down on bank holding companies (BHCs) physical commodities operations, and shed light on the effect these activities have on consumers and manufacturers. Brown’s office released a list of more than 60 breweries in Ohio that are affected by bank-owned aluminum warehouses. By... Read More
  • July 25, 2013

    The federal funding cuts known as sequestration have dropped out of the news for the most part. But new numbers about the continuing mismatch between employers’ needs and job applicants’ qualifications are a reminder that job training programs are among the victims of the across-the-board cutbacks. Forbes magazine reports that Ohio is... Read More
  • July 24, 2013

    — by Jamila Trindle
    Ohio Democratic Sen. Sherrod Brown said Wednesday he will continue pressing banks about their commodities holdings and will likely hold another hearing in September. Brown, whose banking subcommittee held a hearing on the issue Tuesday, said on a press call that he still needs more information from regulators including the Federal Reserve and the... Read More
  • July 24, 2013

    — by Deidre Shesgreen
    WASHINGTON - U.S. Sen. Sherrod Brown wants the Federal Reserve to put new limits on banks trading and owning raw materials after a hearing raised doubts about whether regulators really know what's going on at those units. Brown, D-Ohio, Wednesday accused bank holding companies of engaging in "anti-competitive practices" by hoarding commodities... Read More
  • July 23, 2013

    The U.S. commodities market regulator has put Wall Street banks and other big traders on notice for a possible investigation of their metals warehousing businesses following years of complaints about inflated prices. The Commodity Futures Trading Commission last week sent a letter to firms ordering them to preserve... Read More
  • July 23, 2013

    U.S. Sen. Sherrod Brown, in a letter to company president Tim Gudszend, has asked Aurora’s Rotek Inc. to end the work stoppage involving more than 100 members of the United Steelworkers.He also has offered his aid to reaching a “fair and equitable agreement.”Rotek manufactures large diameter slewing bearings and seamless forged... Read More
  • July 23, 2013

    — by Doug Buchanan
    The way banks process checks – widely blamed for running up excessive overdraft fees on consumers – is being targeted in a new bill to be introduced by Ohio Sen.Sherrod Brown, the Cleveland Plain Dealerreports. Many banks process payments "high-to-low," with the largest amounts first, which can subject more transactions to... Read More
  • July 23, 2013

    — by Jon Behm
    LORAIN — The old Gel-Pak building at 1205 Broadway has come a long way since November 2011. Twenty months worth of work came to fruition on Monday as the new headquarters of the Lorain County Health & Dentistry was dedicated at a 9 a.m. ceremony. “The total renovations cost about $8.5 million,” said Stephanie Wiersma,... Read More
  • July 18, 2013

    — by Jesse Eisinger
    With their simultaneous display of hubris, remorselessness, incompetence and corruption, the banks have finally ignited a modicum of courage in banking regulators. The postcrisis bad behavior — reckless trading at a JPMorgan Chase unit in London, the rampant mortgage modification and foreclosure abuses, manipulation of the key... Read More
  • July 18, 2013

    — by Stacy Millberg
    KINGSVILLE TOWNSHIP — New legislation concerning brownfields could provide tools for communities seeking to redevelop the sites. Brownfields are abandoned, polluted parcels of industrial or commercial land that are available for re-use. The legislation, coined the Brownfields Utilization, Investment and Local Development (BUILD) Act, would... Read More
  • July 18, 2013

    — by Bowdeya Tweh
    Committing more money to redeveloping blighted sites around Ohio is key to creating jobs and developing communities, Ohio Sen. Sherrod Brown said Wednesday. Brown, a Democrat, said he is among sponsors of a bill that would provide additional money to the U.S. Environmental Protection Agency brownfields program, as well as add nonprofit groups to... Read More
  • July 17, 2013

    — by Melanie Burton
    (Reuters) - A U.S. Senate committee will hold a hearing next week on whether banks should control physical storage of commodities, the HuffingtonPost reported, a signal that lawmakers may toughen their stance on this controversial but lucrative business for Wall Street firms. Goldman Sachs Group Inc, JP Morgan Chase & Co and Morgan Stanley all... Read More
  • July 17, 2013

    — by Cleveland Plain Dealer Editorial Board
    They put their lives on the line. Now they stand in line. The Department of Veterans Affairs is a Sargasso Sea, awash in about 500,000 backlogged disability compensation claims nationally. Earlier this year, the total number of pending cases was closer to 800,000, the majority of which -- nearly 70 percent -- had been floating around like so... Read More
  • July 17, 2013

    — by Jessica Wehrman
    WASHINGTON — It took 730 days, required two nominations and provoked untold Senate acrimony, but the U.S. Senate yesterday confirmed former Ohio Attorney General Richard Cordray as the head of a federal consumer watchdog agency. The final Senate vote was 66-34. Both of Ohio’s senators, Democrat Sherrod Brown and Republican Rob Portman,... Read More