Majority Press Releases
SENATE BANKING COMMITTEE CHAIRMAN DODD NAMES AMY FRIEND MAJORITY CHIEF COUNSEL
Senator Chris Dodd, D-CT., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, has named Amy Friend Chief Counsel for the Committee. Friend currently serves as Assistant Chief Counsel at the Office of the Comptroller of the Currency (OCC). “Amy’s experience, knowledge, and expertise make her a wonderful addition to the Banking Committee staff, said Dodd. “Her talents and the wealth of private and public experience she possesses will be of enormous benefit to the Committe… Continue Reading
December 21, 2007
DODD HIGHLIGHTS BANKING COMMITTEE ACCOMPLISHMENTS
Washington, D.C. - Nearing the end of his first year as Chairman of the Senate Banking, Housing and Urban Affairs Committee, Senator Chris Dodd, D-Conn., highlighted the bipartisan accomplishments of the Committee this year and commended Committee members for producing an extensive list of legislative achievements that strengthen security, expand opportunity, and increase prosperity for all Americans. Highlights of the Senate Banking Committee’s legislative accomplishments during the 110th Cong… Continue Reading
December 19, 2007
DODD, SHELBY REACT TO TREASURY SEMI-ANNUAL CURRENCY REPORT
Washington, D.C. - Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Ranking Member Senator Richard Shelby, R-Ala., today made the following statements in reaction to the Treasury Department semi-annual currency report that is required by law to be delivered to the Banking Committee: “Today’s Treasury report acknowledges China’s massive intervention to keep its currency undervalued. In essence, Treasury admits there is smoke but refus… Continue Reading
December 19, 2007
Statement of Senator Dodd, Chairman of the Senate Banking Committee, on Morgan Stanley-China Investment Corporation Deal
“Earlier this year, the Senate Banking Committee enacted legislation to tighten the federal review and approval process for foreign investments in the United States, particularly by foreign governments. A Chinese sovereign wealth fund is now proposing to acquire a sizable interest in Morgan Stanley. As Chairman of the Senate Banking Committee, I need to know more about the specifics of this deal, including whether a CFIUS review is warranted, before coming to any conclusions about this matter.… Continue Reading
December 18, 2007
Statement of Senator Dodd on House Passage of Senate TRIA Bill
“I commend the House for their approval of this measure. It will help to protect our nation’s workers and businesses from the risk of terrorism and help to ensure that our economy is able to thrive and create jobs. This is a carefully crafted, strong and balanced bill that the President has said he will sign into law. I want to thank Senator Shelby, Majority Leader Reid, Republican Leader McConnell, Chairman Frank and others who helped make this day a reality.” Senator Dodd co-authored th… Continue Reading
December 18, 2007
Statement of Senator Dodd, Chairman of the Senate Banking Committee, in Reaction to Proposed Fed Housing Rules
“Regrettably, Chairman Bernanke, Governor Kroszner and the Federal Reserve Board took a significant step backwards today. The Board did not even have the courage of its convictions -- the Board weakened its earlier guidance on requiring an originator to fully analyze a borrower’s ability to repay the mortgage at the fully indexed rate, the most fundamental measure of good lending. Because this rule requires a showing of a ‘pattern and practice’ of violations, no individual subprime borrower… Continue Reading
December 18, 2007
DODD HAILS FINAL PASSAGE OF HIS BILL WHICH WILL ENCOURAGE DIVESTMENT FROM DARFUR
Washington, D.C. - Senator Chris Dodd (D-CT) today hailed final passage of his legislation which will provide several tools for pressuring the government of Sudan into halting the ongoing genocide in Darfur. The “Sudan Accountability and Divestment Act,” will now go to the President’s desk. “Darfur is a humanitarian disaster,” said Dodd. “More than 450,000 people have been killed and 2 million displaced. Now is the time to take action and end the suffering of the people of Darfur. This le… Continue Reading
December 17, 2007
BANKING COMMITTEE CHAIRMAN DODD NAMES HOLLINGSWORTH DEPUTY STAFF DIRECTOR AND SENIOR POLICY ADVISOR
- Senator Chris Dodd, D-Ct., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, has named Roger Hollingsworth as Deputy Staff Director and Senior Policy Advisor for the Committee. “Roger brings a wealth of knowledge, judgment and experience to the Committee,” said Dodd. “His experience in both the Senate and private sector will be an asset as the Committee continues to tackle important issues facing our nation. I appreciate his willingness to serve in this important po… Continue Reading
December 14, 2007
SENATE PASSES DODD’S BILL TO HELP FAMILIES KEEP AND BUY THEIR HOMES
Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Banking, Housing, and Urban Affairs Committee, today announced that the Senate has approved the Federal Housing Administration Modernization Act of 2007. The legislation seeks to help American families that have been hit hard by the current crisis in the mortgage markets, including those who currently face the threat of foreclosure and those who may be trying to find fair and affordable financing to buy a new home. “American famili… Continue Reading
December 12, 2007
DODD INTRODUCES LEGISLATION TO PROTECT AMERICAN HOMEOWNERSHIP
WASHINGTON, D.C. - As a part of his comprehensive strategy to protect, preserve and promote the American dream of homeownership, Senator Chris Dodd (D-CT) today introduced legislation to help put an end to the abusive and predatory lending practices that have sent thousands of Americans into foreclosure and put thousands more in danger of losing their homes. The Homeownership Preservation and Protection Act of 2007 is cosponsored by Senators Reed (D-RI), Schumer (D-NY), Menendez (D-NJ), Akaka (… Continue Reading
December 11, 2007
Statement of Chairman Dodd on Federal Reserve’s Policy Action
“Today’s action by the Fed clearly indicates that the problems that originated in the sub-prime mortgage market continue to reverberate through the financial system and the broader economy. Just as the Fed has a duty to manage monetary policy in times of turmoil, so, too, does it have a duty to protect homebuyers from unfair and deceptive practices. The Fed has failed to adequately carry out this duty over the past 13 years by failing to meet its obligations under the Home Ownership and Equity … Continue Reading
December 6, 2007
DODD RESPONDS TO ADMINISTRATION’S HOUSING PROPOSAL
“Our nation’s economic foundation has been severely damaged by this housing crisis, with record foreclosures announced just today. For the Administration, already late in addressing this crisis, to put forth an agreement that amounts to little more than financial wallpaper is insufficient to say the least. The fact that not one homeowner captured by today’s delinquency and foreclosure data would be helped by this agreement proves that in no uncertain terms. “This agreement is a step back f… Continue Reading
December 6, 2007
DODD RESPONDS TO ADMINISTRATION’S HOUSING PROPOSAL
“Our nation’s economic foundation has been severely damaged by this housing crisis, with record foreclosures announced just today. For the Administration, already late in addressing this crisis, to put forth an agreement that amounts to little more than financial wallpaper is insufficient to say the least. The fact that not one homeowner captured by today’s delinquency and foreclosure data would be helped by this agreement proves that in no uncertain terms. “This agreement is a step back f… Continue Reading
December 6, 2007
Banking Committee Chairman Dodd and Securities Subcommittee Chairman Reed Urge SEC to Issue Guidance on Disclosure of Corporate Climate Risk
Recognizing the need for American businesses to more fully disclose how they report business activities related to climate risk, and for investors to have access to better information regarding climate risks, Senator Chris Dodd, D-Conn., Chairman of the Senate Banking, Housing and Urban Affairs, and Senator Jack Reed, D-R.I., Chairman of the Subcommittee on Securities, Insurance and Investment, today wrote to Securities and Exchange Commission Chairman Chris Cox to urge the SEC to issue guidance… Continue Reading
December 3, 2007
DODD RESPONDS TO TREASURY SECRETARY’S COMMENTS
Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Banking Committee, today responded to Treasury Secretary Henry Paulson’s statement that the Treasury Department would soon announce a plan to modify and refinance loans for certain subprime mortgage borrowers. “Secretary Paulson’s comments this morning that the Administration has taken action to stop predatory lending strain credulity. The Administration has repeatedly failed to use the tools at its disposal to protect ho… Continue Reading
December 3, 2007
DODD RESPONDS TO TREASURY SECRETARY’S COMMENTS
Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Banking Committee, today responded to Treasury Secretary Henry Paulson’s statement that the Treasury Department would soon announce a plan to modify and refinance loans for certain subprime mortgage borrowers. “Secretary Paulson’s comments this morning that the Administration has taken action to stop predatory lending strain credulity. The Administration has repeatedly failed to use the tools at its disposal to protect ho… Continue Reading
November 30, 2007
CHAIRMAN DODD SENDS LETTER TO SECRETARY PAULSON, INSISTS ON STANDARD SET AT HOMEOWNER PRESERVATION SUMMIT
Washington, D.C. - In keeping with his commitment to protect and preserve American homeownership, Senator Chris Dodd, Chairman of the Senate Banking Committee on Banking, Housing, and Urban Affairs, today sent a letter to U.S. Treasury Secretary Henry Paulson urging the Administration to insist that servicers, lenders, and other mortgage market participants immediately undertake efforts to reduce foreclosures consistent with the principles they agreed to following the Homeownership Preservation … Continue Reading
November 28, 2007
Statement of Chairman Dodd on SEC Vote on Proxy Access
“Proxy access is an extremely important issue. These proposals have generated an unprecedented response and concerns, as evidenced by a record 34,000-plus public comments, the overwhelming majority of which were in opposition to the proposals. I would have hoped that the Commission would not have moved forward until current vacancies at the Commission had been filled. A core mission of the SEC is to strengthen rather than diminish shareholder rights and I have concerns about the impact of the… Continue Reading
November 27, 2007
Statement of Chairman Dodd on Housing Market Turmoil and S&P/Case Shiller Home Price Index Report for 3rd Quarter
“The holiday season should be a joyous time when people treasure time with their families. But for far too many Americans, a financial cloud is hanging over the season as people are either grappling with the terrible prospect of losing their homes or worried about the value of their home. Today’s report showing a drop of nearly 10 percent in home prices, along with other data, indicate on-going economic turmoil arising from the housing crisis. Another report by the Conference of Mayors indica… Continue Reading
November 16, 2007
Statement of Chairman Dodd on Senate Passage of Terrorism Risk Insurance Act Reauthorization
“This is a tremendous victory for American workers, businesses, and our national infrastructure. The threat of terrorism tragically exists. We need to do everything in our power to protect the long-term security of our people and fortify and strengthen our economy. This measure will do exactly that by helping to ensure that our nation is prepared to deal with future terrorist threats by making insurance available and affordable. I commend Majority Leader Reid, Ranking Member Shelby, and ev… Continue Reading
