Majority Press Releases
President Signs Dodd, Shelby CFIUS Legislation
Senators Chris Dodd, D-Conn., and Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, today commended the President for signing into law the Foreign Investment and National Security Act of 2007. The bill, authored in the Senate by Dodd and Shelby, will reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designation of a lead agency … Continue Reading
July 26, 2007
President Signs Dodd, Shelby CFIUS Legislation
Washington, D.C. - Senators Chris Dodd, D-Conn., and Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, today commended the President for signing into law the Foreign Investment and National Security Act of 2007. The bill, authored in the Senate by Dodd and Shelby, will reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designatio… Continue Reading
July 26, 2007
Chairman Dodd Secures Transit Security Measure in 9/11 Bill
Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, announced today that he has helped secure new transit security investments and improvements as part of a comprehensive 9-11 Conference Report finalized today by House and Senate conferees . The transit security legislation will provide additional resources -- $3.5 billion over the next four years -- distributed on the basis of risk, directly to public transit systems to better protect against te… Continue Reading
July 26, 2007
Chairman Dodd Secures Transit Security Measure in 9/11 Bill
Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, announced today that he has helped secure new transit security investments and improvements as part of a comprehensive 9-11 Conference Report finalized today by House and Senate conferees . The transit security legislation will provide additional resources -- $3.5 billion over the next four years -- distributed on the basis of risk, directly to public transit systems to better… Continue Reading
July 20, 2007
Statement of Banking Committee Chairman Chris Dodd and Ranking Member Richard Shelby on Federal Banking Regulators Agreement on Basel II Regulations
“We are pleased that federal banking regulators have reached a consensus on implementing the Basel II Capital Accords. The successful implementation of Basel II is vital to ensuring that the U.S. banking system is adequately capitalized and that U.S. financial services firms remain competitive in the global economy. As we stated in our letter to banking regulators on Tuesday, we believed that it was imperative that all four federal banking regulators support the final Basel II regulations. We… Continue Reading
July 18, 2007
Statement of Chairman Dodd in Reaction to Fed Chairman Bernanke Comments on the Home Ownership and Equity Protection Act (HOEPA)
“I am encouraged by today’s announcement. Mr. Bernanke and the Governors appear to finally acknowledge that they have a duty to act to protect consumers from abusive mortgage practices and products. Many of my colleagues and I have laid out a course we think the Board must follow to meet this obligation. It goes without saying that actions speak louder than words and the Fed now needs to spell out what they intend to specifically do to protect American homeowners. I intend to make that poin… Continue Reading
July 17, 2007
Dodd, Shelby Urge Regulators to Reach Consensus on Basel II
Senator Chris Dodd, D-Conn., and Senator Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Banking Committee, today wrote to the Federal Reserve, Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision, to urge them to reach a consensus on final regulations to implement Basel II. Click here for the full text of the letter.… Continue Reading
July 17, 2007
Dodd, Shelby Urge Regulators to Reach Consensus on Basel II
Washington, D.C. - Senator Chris Dodd, D-Conn., and Senator Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Banking Committee, today wrote to the Federal Reserve, Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision, to urge them to reach a consensus on final regulations to implement Basel II. Click here for the full text of the letter.… Continue Reading
July 12, 2007
Chairman Dodd Decries Increased Trade Deficit
Washington, D.C. - Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement in reaction to release of the U.S. trade deficit numbers, indicating that a third, or $20 billion, of the trade deficit in May was with China: “Today’s trade numbers indicate that the U.S. continues to run an unhealthy trade deficit at a pace of over $700 billion per year. More disturbing is that one-third of our deficit in the month of May… Continue Reading
July 12, 2007
Chairman Dodd Decries Increased Trade Deficit
Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement in reaction to release of the U.S. trade deficit numbers, indicating that a third, or $20 billion, of the trade deficit in May was with China: “Today’s trade numbers indicate that the U.S. continues to run an unhealthy trade deficit at a pace of over $700 billion per year. More disturbing is that one-third of our deficit in the month of May was with just one … Continue Reading
July 11, 2007
Dodd, Frank, Shelby, Bachus, and Maloney Laud House Passage of CFIUS Reform Legislation
Senators Chris Dodd (D-CT) and Richard Shelby (R-AL) and Representatives Barney Frank (D-MA), Spencer Bachus (R-AL), and Carolyn Maloney (D-NY), today applauded both the House and Senate for passing needed reforms of the Committee on Foreign Investments in the United States (CFIUS) for reviewing direct foreign investments for national security purposes. The Foreign Investment and National Security Act of 2007, H.R. 556, which passed the House in February and the Senate last month, will strength… Continue Reading
July 11, 2007
Dodd, Frank, Shelby, Bachus, and Maloney Laud House Passage of CFIUS Reform Legislation
WASHINGTON, D.C. - Senators Chris Dodd (D-CT) and Richard Shelby (R-AL) and Representatives Barney Frank (D-MA), Spencer Bachus (R-AL), and Carolyn Maloney (D-NY), today applauded both the House and Senate for passing needed reforms of the Committee on Foreign Investments in the United States (CFIUS) for reviewing direct foreign investments for national security purposes. The Foreign Investment and National Security Act of 2007, H.R. 556, which passed the House in February and the Senate last m… Continue Reading
July 9, 2007
Dodd, Shelby Laud Senate Passage of CFIUS Legislation
Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, today announced that the Senate passed the Foreign Investment and National Security Act of 2007 by unanimous consent. The bill would reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designation of a lead agency for each covered transaction, and pro… Continue Reading
July 9, 2007
Dodd, Shelby Laud Senate Passage of CFIUS Legislation
WASHINGTON, D.C. - Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, today announced that the Senate passed the Foreign Investment and National Security Act of 2007 by unanimous consent. The bill would reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designation of a lead agency for each covered t… Continue Reading
June 29, 2007
Statement of Chairman Dodd on Subprime Mortgage Lending Guidance
"The regulators have taken an important step in the right direction, but it only gets us part way to our final goal." "I applaud the regulators for this guidance. It establishes, once and for all, the principle that lenders must seriously and fully consider a borrower's ability to pay a loan back, at the fully indexed rate, before making a mortgage loan. Had regulators enforced such a standard over the past several years, and had lenders abided by it, many of the problems that homeowners an… Continue Reading
June 21, 2007
Dodd, Shelby Introduce Currency and Market Access Legislation to Level the Playing Field for U.S. Workers and Companies
Responding to inadequate action by the Treasury Department to identify and address currency manipulation by our nation's largest trading partners, Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Banking Committee, today introduced the Currency Reform and Financial Markets Act of 2007 to level the playing field for American workers and businesses. The Senators intend to work with their fellow Banking Committee colleagues to ensure that the legislat… Continue Reading
June 21, 2007
Dodd, Shelby Introduce Currency and Market Access Legislation to Level the Playing Field for U.S. Workers and Companies
Washington, D.C. - Responding to inadequate action by the Treasury Department to identify and address currency manipulation by our nation’s largest trading partners, Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Banking Committee, today introduced the Currency Reform and Financial Markets Act of 2007 to level the playing field for American workers and businesses. The Senators intend to work with their fellow Banking Committee colleagues to ensur… Continue Reading
June 21, 2007
Banking Chairman Dodd and Senator Landrieu Introduce Comprehensive Legislation to Help Gulf Coast Communities and Families Recover from Hurricane Katrina
Washington - Senator Chris Dodd, D-Conn., Chairman of the Senate Banking, Housing and Urban Affairs Committee, and Senator Mary Landrieu, D-La., today introduced a comprehensive bill to help people and families hard-hit by Hurricanes Katrina and Rita rebuild, strengthen and preserve their communities, homes, and lives. “Katrina wreaked tremendous havoc and damage, but it couldn’t wash away and destroy the resilience of the people of the Gulf Coast. To fully recover, families there need a pla… Continue Reading
June 20, 2007
Dodd-Shelby Request Information from SEC and Treasury on S. 1624, Legislation on Private Equity Firms
Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Banking Committee, today wrote to the Securities Exchange Commission and Treasury Department to request their assessment of S. 1624, legislation introduced by Senators Baucus and Grassley on private equity firms. "As Chairman and Ranking Member of the Committee on Banking, Housing and Urban Affairs, we have a strong commitment to promoting capital formation and protecting investors in America's se… Continue Reading
June 20, 2007
Dodd-Shelby Request Information from SEC and Treasury on S. 1624, Legislation on Private Equity Firms
Washington, D.C. - Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Banking Committee, today wrote to the Securities Exchange Commission and Treasury Department to request their assessment of S. 1624, legislation introduced by Senators Baucus and Grassley on private equity firms. “As Chairman and Ranking Member of the Committee on Banking, Housing and Urban Affairs, we have a strong commitment to promoting capital formation and protecting invest… Continue Reading
