Press Releases
Washington, D.C. - Federal Reserve Chairman Ben S. Bernanke on Tuesday issued the following written response to a question from Congressman Brad Sherman about a loophole that lets commercial firms buy industrial banks.
œ¦The Board has encouraged Congress to review the exemption in current law that allows a commercial bank to acquire an FDIC-insured industrial bank (ILC) chartered in certain states without regard to the limits Congress has established to maintain the separation of banking and commerce, he said.
Washington, D.C. - Congressman Brad Sherman said Thursday that House Speaker J. Dennis Hastert falsely lumped him among supporters of the so-called Patriot Act.
œThe speaker should be ashamed of his ham-handed effort to score cheap political points, Sherman said.
In a March 13 press release, Hastert listed Sherman among Democrats who the speaker claimed had œvoted with House Republicans in favor of the Patriot Act.
Washington, D.C. - Congressman Brad Sherman will host a town hall meeting on Sunday, March 26 at Reseda High School.
These popular meetings often attract crowds of several hundred constituents. They are an opportunity for San Fernando Valley residents to hear from Sherman on the Medicare prescription drug program, Social Security, education, and other issues before Congress. The congressman also will take questions from constituents on other federal and community issues.
WASHINGTON" Congressmen Brad Sherman and 38 other members of Congress on Friday told federal bank regulators that a bank owned by Wal-Mart would undermine the nations financial system.
In a letter to Martin Gruenberg, acting chairman of the Federal Deposit Insurance Corp., the congressmen said Wal-Mart's application to open a bank in Utah should be rejected.
œThe mixing of banking and commerce has been terrible for the Japanese economy, and it is a practice we should not start here,Sherman said.
Washington, D.C. - Congressman Brad Sherman on Wednesday, speaking at a House hearing on the proposed takeover of terminal operations at six United States ports by a Dubai company, demanded that the UAE prohibit œcontributions by its citizens to Hamas and other organizations listed on the U.S. State Department terrorist list.
Sherman also demanded that the state-owned Dubai Ports World, and the UAE cease participation in a boycott of Israel.
Washington, D.C. - Congressman Brad Sherman on Saturday helped mark the opening of a Lake View Terrace branch of the Pacoima Development Federal Credit Union.
The congressman joined Los Angeles City Councilman Alex Padilla and leaders of the Valley Economic Development Center at an open house. A member of the U.S. House Financial Services Committee, Sherman helped the credit union obtain its charter to serve the northeastern San Fernando Valley.
Washington, D.C. - Congressman Brad Sherman announced Wednesday that he has nominated outstanding Valley students for admission to the nations elite military service academies.
œI am proud of these young men and women, and grateful for their willingness to serve our country at this critical time, Sherman said. Shermans nominees to the military service academies are:
Washington, D.C. - Congressman Brad Sherman announced Wednesday that he has nominated outstanding Valley students for admission to the nations elite military service academies.
œI am proud of these young men and women, and grateful for their willingness to serve our country at this critical time, Sherman said. Shermans nominees to the military service academies are:
Washington, D.C. - Congressman Brad Sherman on Monday criticized President Bushs proposed $2.7 trillion budget that the congressman said would shortchange ordinary Americans next year while giving more tax breaks to the rich.
The budget deficit, meanwhile, was projected to soar to an all-time high of $423 billion by the end of this year, the administration projected.
Washington, D.C. - Congressman Brad Sherman on Monday criticized President Bushs proposed $2.7 trillion budget that the congressman said would shortchange ordinary Americans next year while giving more tax breaks to the rich.
The budget deficit, meanwhile, was projected to soar to an all-time high of $423 billion by the end of this year, the administration projected.