Majority Press Releases
DODD ANNOUNCES HEARING TO INVESTIGATE MORTGAGE SERVICING AND FORECLOSURE PRACTICES
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) announced that the Committee will hold a hearing on Tuesday, November 16, to investigate allegations of improper and fraudulent mortgage servicing and foreclosure processing. "American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud," said Chairman Dodd. "I am deeply troubled by recent revelations and allegations of practices by some of the nation's largest lenders… Continue Reading
September 30, 2010
DODD STATEMENT ON IMPLEMENTATION OF DODD-FRANK ACT
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held an oversight hearing on the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. "Today, I believe we can say that, thanks to the hard work of Democrats and Republicans on this committee-and with the sage counsel of our witnesses and many others whose perspectives we have considered carefully-we have delivered the reform our financial system needs and provided the American people with the … Continue Reading
September 22, 2010
DODD STATEMENT ON STANFORD PONZI SCHEME HEARING
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on the Securities and Exchange Commission's investigation and response to R. Allen Stanford's alleged Ponzi scheme. The Committee heard testimony from SEC officials about what went wrong, as well as what steps the agency is taking to prevent future financial frauds and restore investor confidence. "In February of 2009, the SEC charged Robert Allen Stanford and several associates with orchestrating an eight … Continue Reading
September 22, 2010
DODD STATEMENT ON NATIONAL FLOOD INSURANCE PROGRAM HEARING
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing entitled "Reauthorization of the National Flood Insurance Program." The Committee explored options to strengthen the program, protect American families and businesses, and ensure the program's future financial stability. "The NFIP is an important program providing a range of benefits to deal with an often overlooked, but serious, threat," said Chairman Dodd. "Floods cause more damage and create more econom… Continue Reading
September 21, 2010
DODD STATEMENT ON NATIONAL INFRASTRUCTURE BANK HEARING
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) released the following statement on the hearing "Investing in Infrastructure: Creating Jobs and Growing the Economy." The hearing explored the benefits of creating a National Infrastructure Bank that would fund critical national and regional projects to upgrade infrastructure such as roads, bridges, transit and water systems across the United States. "A National Infrastructure Bank will build on our nation's legacy of bo… Continue Reading
September 17, 2010
DODD STATEMENT ON ELIZABETH WARREN
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) made the following statement on President Obama naming Elizabeth Warren as Assistant to the President and Special Advisor to the Treasury Secretary on the Consumer Financial Protection Bureau. "I spoke with Elizabeth Warren this morning and congratulated her on her appointment to the President's staff. Ms. Warren has proven to be a strong, qualified, and terrific watchdog and I have no doubt her advice will help move this… Continue Reading
September 16, 2010
DODD STATEMENT ON CHINA ECONOMIC AND EXCHANGE RATE POLICY HEARING
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on the Treasury Department's Report on International and Exchange Rate Policies. The Committee heard from Treasury Secretary Timothy Geithner, and discussed the relationship between the United States and China. "As we meet today, our nation is still recovering from the worst economic crisis in over seventy years. Millions of American families have lost their homes to foreclosure, and millions of American wo… Continue Reading
September 15, 2010
DODD STATEMENT ON COVERED BONDS HEARING
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on the potential uses of covered bonds, as well as the regulatory issues raised by the expanded use of these bonds in the United States. "Covered bonds can provide an additional option to the two dominant funding mechanisms in the US marketplace, which are securitization and the traditional portfolio lender model, where a bank holds mortgages on its balance sheet and funds them with deposits," said Chairma… Continue Reading
September 13, 2010
DODD STATEMENT ON THE BASEL COMMITTEE AGREEMENT
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) released the following statement on the Basel Committee on Banking Supervision's agreement to strengthen capital requirements. "When President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, the United States took the lead in restoring stability and confidence in our financial markets and laid down a marker establishing very high standards that the rest of the world can emulate. … Continue Reading
September 13, 2010
DODD ANNOUNCES INFRASTRUCTURE HEARING
WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) announced the Committee will hold a hearing at 10:00 A.M. on Tuesday, September 21st on the need to invest in the nation's infrastructure. At the hearing Chairman Dodd will explore the benefits of creating a National Infrastructure Bank that would fund critical national and regional projects to upgrade infrastructure such as roads, bridges, transit and water systems across the United States. "A significant investment in our a… Continue Reading
August 3, 2010
BANKING COMMITTEE PASSES DODD’S LIVABLE COMMUNITIES ACT
WASHINGTON - Today the Senate Banking Committee passed Chairman Chris Dodd's (D-CT) Livable Communities Act (S. 1619) to improve the coordination between our housing, community development, transportation, energy, and environmental policies to help create better places to live, work and raise families. The bill will promote sustainable development and enable communities to cut traffic congestion; reduce greenhouse gas emissions and oil consumption; protect farmland and green spaces; revitalize … Continue Reading
July 28, 2010
DODD STATEMENT ON FEDERAL RESERVE GOVERNOR NOMINATIONS AND INSPECTOR GENERAL NOMINATIONS
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held an executive session meeting where the committee approved three Federal Reserve Governor nominations and two Inspector General nominations. The nominations will now be sent to the Senate floor for a final confirmation vote. The Banking Committee approved the nominations of Janet L. Yellen for Vice Chair and a member of the Federal Reserve Board of Governors, Peter A. Diamond and Sarah Bloom Raskin for membership on… Continue Reading
July 27, 2010
DODD, SHELBY, MENENDEZ CALL FOR PASSAGE OF THE PUBLIC TRANSPORTATION SAFETY ACT
WASHINGTON - Following the National Transportation Safety Board's (NTSB) release of a summary report on Metro's Red Line collision, Banking Committee Chairman Chris Dodd (D-CT), Ranking Member Richard Shelby (R-AL), and Housing, Transportation, and Community Development Subcommittee Chairman Robert Menendez (D-NJ), authors of the Public Transportation Safety Act (S. 3638), called for the Senate to pass their legislation immediately. Last June, two trains on Metro's Red Line collided and killed … Continue Reading
July 21, 2010
DODD STATEMENT: PRESIDENT SIGNS WALL STREET REFORM
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement after the President signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. "At last, we have brought real change to the way Wall Street does business," said Dodd. "With this bill, we have protected taxpayers from being forced to bail out companies that threaten to bring down the economy. With new consumer protections the government will no longer sit idly by as consumers… Continue Reading
July 21, 2010
DODD STATEMENT ON THE SEMI-ANNUAL MONETARY POLICY REPORT TO CONGRESS
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on the Federal Reserve's semi-annual monetary policy report to the Congress. The committee heard testimony from Federal Reserve Chairman Ben Bernanke. "Today the President signed into law the Wall Street reform bill. This bill is a comprehensive response to the financial crisis that has devastated our economy. The bill demands that regulators change the oversight of financial markets and fina… Continue Reading
July 15, 2010
DODD STATEMENT: HEARING ON FEDERAL RESERVE NOMINATIONS AND INSPECTOR GENERAL NOMINATIONS
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on three Federal Reserve Governor nominations and two Inspector General nominations. The committee heard testimony from nominees Janet L. Yellen for Vice Chair and a member of the Federal Reserve Board of Governors, Peter A. Diamond and Sarah Bloom Raskin for membership on the Federal Reserve Board of Governors, Osvaldo Luis Gratacós Munet for Inspector General of the Export-Import Bank, and Stev… Continue Reading
July 12, 2010
DODD STATEMENT ON BIPARTISAN SUPPORT FOR THE WALL STREET REFORM BILL
WASHINGTON -- Senate Banking Committee Chairman Chris Dodd (D-CT) made the following statement on the announced support for the Wall Street reform bill by Senators Olympia Snowe, Susan Collins, and Scott Brown. "Today is a good day for Main Street America. With the support of Senators Olympia Snowe, Susan Collins, and Scott Brown, Wall Street reform is a step away from heading to the President's desk to be signed into law. These colleagues demonstrated how bipartisanship is supposed to w… Continue Reading
July 8, 2010
DODD REACTS TO TREASURY’S CURRENCY REPORT
WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) made the following statement in response to the Treasury Department's semi-annual Report on International Economic and Exchange Rate Policies submitted today to the Senate Banking Committee and House Financial Services Committee. "Today's Treasury report made clear for the record what we all already knew -- China continues to undervalue its currency," said Dodd. "For years, American workers have not been able to compete on a l… Continue Reading
July 2, 2010
FACT CHECK: COMMUNITY BANKS WIN WITH WALL STREET REFORM
REDUCING SYSTEMIC RISK - Community banks benefit when large banks pay for the risks they create to the system. Advance Warning System: Creates a systemic-risk regime that would rein in the size and scope of large, interconnected financial institutions. Tougher Supervision of Large, Interconnected Financial Companies: Large bank holding companies (those with over $50 billion in assets) and systemically important nonbank financial companies will face heightened risk-based capital, le… Continue Reading
July 1, 2010
DODD STATEMENT IN IRAN SANCTIONS BILL SIGNING
WASHINGTON -- Senate Banking Committee Chairman Chris Dodd (D-CT), co-author of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 along with House Foreign Affairs Chairman Berman, issued the following statement after President Obama signed the bill into law this evening. "The government of Iran engages in serious human rights abuses against its own citizens, funds terrorist activity throughout the Middle East, and is pursuing illicit nuclear activities which pose … Continue Reading
