Majority Press Releases
DODD REITERATES PRIORITIES FOR CONSUMER PROTECTIONS
WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) today issued the following statement on financial reform in which he reiterated the importance of including a strong, independent consumer protection watchdog with real authority to crack down on abusive practices. "A lot of attention is being paid to what address the new consumer watchdog will have, but the critical question is will this office have the authority and independence it needs to prevent a replay of the abuses … Continue Reading
February 25, 2010
DODD: RECOVERY “NOT GOOD ENOUGH”
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) outlined just how much work is left to be done to repair our economy at a hearing to consider Federal Reserve Chairman Ben Bernanke's Semiannual Monetary Policy Report to Congress. "Today, as you testify before us, it is worth taking a moment to recognize that our economy is showing signs of emerging from this recession. During the last two quarters, GDP has shown positive growth, as has gross private domestic investmen… Continue Reading
February 22, 2010
DODD ASKS REGULATORS FOR ANSWERS ON COMMERCIAL REAL ESTATE MARKET
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) wrote Federal bank regulators and asked them to report on their efforts to stabilize the very troubled commercial real estate market (CRE). Despite positive signs in the economy, Dodd noted evidence the commercial real estate market continues to struggle. · Last month, the Congressional Research Service reported "delinquency rates for commercial mortgages climbed from 4% at the end of the third quarter of… Continue Reading
February 19, 2010
DODD: WATCH FOR NEW CREDIT CARD PROTECTIONS
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) reminded consumers to look for important new credit card protections on Monday when major provisions of Credit CARD Act take effect. These provisions will stop unfair interest rate hikes and changes in terms, prohibit exorbitant and unnecessary fees, defend the rights of responsible credit card users, and protect young consumers against aggressive credit card solicitations. "Starting Monday, credit card customer… Continue Reading
February 11, 2010
DODD TO NEGOTIATE FINANCIAL REFORM WITH SEN. CORKER
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on developments in financial reform negotiations. "For over a year, the Senate Banking Committee has been grappling with how best to address the many problems that led to the financial crisis." "In that time Senator Corker has proved to be a serious thinker and a valuable asset to this committee. For that reason, I called him Tuesday night and asked him to negotiate the financial refor… Continue Reading
February 5, 2010
DODD MOVING FORWARD ON FINANCIAL REFORM
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on the status of Financial Reform in the Senate. "Last night, Senator Shelby assured me that he is still committed to finding a consensus on Financial Reform, but for now we have reached an impasse." "While I still hope that we will ultimately have a consensus package, it is time to move the process forward." "I have instructed my staff to begin drafting legislation to present to th… Continue Reading
February 4, 2010
DODD CONTINUES TO PRESS NEED FOR FINANCIAL REFORM
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held his committee's second hearing on recent proposals by the Obama Administration to rein in Wall Street Banks and made the case for urgent action on financial reform. "… nearly two years after the collapse of Bear Stearns, we still have not updated the laws governing our financial sector, leaving our fragile economy with the same vulnerabilities that led to the economic crisis in the first place," Dodd warned. … Continue Reading
February 2, 2010
DODD HOLDS 1ST HEARING ON NEW PROPOSALS TO REIN IN WALL STREET
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on recent proposals by the Obama Administration to rein in Wall Street Banks. "The Obama administration has proposed bold steps to make the financial system less risky. We welcome those ideas," said Dodd. "The first would prohibit banks - or financial institutions that contain banks - from owning, investing in, or sponsoring a hedge fund, a private equity fund, or any proprietary trading operation unrelat… Continue Reading
January 28, 2010
SENATE PASSES DODD-SHELBY IRAN SANCTIONS BILL
WASHINGTON - Today the U.S. Senate unanimously approved the Dodd-Shelby Comprehensive Iran Sanctions, Accountability, and Divestment Act. "The Iranian regime has engaged in serious human rights abuses against its own citizens, funded terrorist activity throughout the Middle East, and pursued illicit nuclear activities posing a serious threat to the security of the United States and our allies," said Chris Dodd (D-CT), Chairman of the Senate Banking Committee. "With passage of this bill, we … Continue Reading
January 28, 2010
DODD STATEMENT ON BERNANKE CONFIRMATION VOTE
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) called on the Senate to vote to confirm Ben Bernanke for a second term as Chairman of the Board of Governors of the Federal Reserve System during the Senate debate on that nomination. "I am a strong supporter of this nomination, and I want to explain why," Dodd said. "Over the last year, the chairmanship of Ben Bernanke has in no small measure made it possible for this nation to avoid a catastrophe that I think would… Continue Reading
January 27, 2010
DODD, REED PRAISE SEC DECISION ON CLIMATE RISK DISCLOSURE
WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) and Securities, Insurance, and Investment Subcommittee Chairman Jack Reed (D-RI) praised the Securities and Exchange Commission's decision to encourage companies to appropriately disclose climate-related issues facing their business. While climate change and laws to deal with climate change have the potential to seriously effect business operations, little information has been available to investors in the past. "Climate … Continue Reading
January 23, 2010
DODD AND GREGG ISSUE JOINT STATEMENT EXPRESSING CONFIDENCE THAT BERNANKE WILL WIN CONFIRMATION VOTE
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) and Banking Committee Member Judd Gregg (R-NH) issued a joint statement on their confidence that Federal Reserve Chairman Ben Bernanke will be confirmed by the Senate for a second term. "In the last few days there have been a flurry of media reports on Chairman Bernanke's confirmation prospects, highlighting a very vocal opposition. Chairman Bernanke has done an excellent job responding to one of the most significant fi… Continue Reading
January 21, 2010
DODD STATEMENT ON PRESIDENT’S FINANCIAL REFORM MEASURES
WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) joined President Obama at the White House for an announcement of a proposal to impose new restrictions on the size and scope of financial firms to rein in excessive risk taking and to protect taxpayers. "The financial crisis highlighted the dangers of excessive risk taking by financial institutions. I agree with President Obama that taxpayers should not be underwriting these risky activities. Companies that choose to t… Continue Reading
January 14, 2010
DODD CALLS ON CREDIT CARD COMPANIES TO WAIVE FEES ON DONATIONS TO AID HAITI
WASHINGTON - As donations pour in to humanitarian organizations to aid the victims of the devastating earthquake in Haiti, Senate Banking Committee Chairman Chris Dodd (D-CT) called on credit card companies to waive the transaction fees that prevent the full amount of charitable donations from reaching the intended recipients. For every dollar Americans donate by credit card to the Haitian recovery effort, credit card companies charge the humanitarian organization around three cents in "tr… Continue Reading
January 14, 2010
DODDS SUPPORTS PRESIDENT’S FEE TO RECOUP TARP FUNDS
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) voiced his strong support for the President's proposal for a Financial Crisis Responsibility Fee that would require the largest and most highly leveraged Wall Street firms to pay back taxpayers for the extraordinary assistance provided so that the TARP program does not add to the deficit. "The President has it right," said Dodd. "Wall Street owes a great debt to the American public and we have the right and the obligatio… Continue Reading
January 6, 2010
DODD REMARKS ON SENATE RETIREMENT
Photos of Senator Dodd Throughout His Career Available Here EAST HADDAM, CT-"Every six years over the past three decades, I have invited you to join me at our home to share in my decision to seek election and re-election to the United States Senate. On each of these occasions I have begun my remarks by observing that every important journey in life begins and ends at home. Today is no exception. What is different about today, however, is not to announce the beginning of yet anot… Continue Reading
December 23, 2009
DODD AND SHELBY ISSUE JOINT STATEMENT ON THE PROGRESS OF FINANCIAL REFORM
WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) and Ranking Member Richard Shelby (R-AL) issued a joint statement on the progress being made on financial reform. "The economic crisis our country faced over the last year exposed serious weaknesses in our financial regulatory structure." "The lesson was clear. Our country needs financial regulatory reform and we are committed to working together on legislation to create a sound regulatory structure." "In this … Continue Reading
December 17, 2009
SENATE BANKING COMMITTEE APPROVES BERNANKE
WASHINGTON - Today the Senate Banking Committee approved the nomination of Ben Bernanke to continue as Chairman of the Board of Governors of the Federal Reserve System on a vote of 16 to 7. President Obama announced Bernanke's reappointment on August 25th. The nomination will now be sent to the full Senate for consideration. "As I have said, I will vote to pass that nomination out of this committee and to the full Senate," said Chris Dodd (D-CT), Chairman of the Senate Banking Com… Continue Reading
December 14, 2009
DODD STATEMENT ON CITIBANK REPAYING TARP FUNDS
WASHINGTON - Today, Chris Dodd (D-CT), Chairman of the Senate Banking Committee, issued the following statement on the announcement that Citibank would repay $20 billion in TARP funds. "We provided this assistance to avert an economic collapse. It worked, and today's announcement by Citibank is another sign that things are turning around on Wall Street," said Dodd. "But it is little consolation to taxpayers that Citi's stock is up 20% when they face unemployment rates of over 10%. Now th… Continue Reading
December 11, 2009
DODD APPLAUDS FEINBERG CAP ON EXECUTIVE PAY FOR TARP RECIPIENTS
WASHINGTON - Today, Banking Committee Chairman Chris Dodd (D-CT), congratulated Ken Feinberg, Special Master for Executive Pay in the Obama Administration, on news that he has set $500,000 salary limits for employees at four companies that received "exceptional" U.S. bailout funds. "This holiday season, millions of Americans are struggling with tight budgets," said Dodd. "I appreciate Mr. Feinberg's continued efforts to rein in outrageous compensation so that folks running companies that c… Continue Reading
