Majority Press Releases

June 12, 2007

Dodd, Shelby Announce Bipartisan Agreement Requiring Stringent New Oversight to Protect U.S. Jobs and Combat China Currency Manipulation

Washington, D.C. - Responding to years of inaction by the Treasury Department to identify and promptly adjust currency manipulation by our largest trading partners, Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Banking Committee, today announced that they will introduce legislation to level the playing field for American workers and businesses. China’s ongoing intervention to keep the yuan undervalued has contributed to the loss of approximate… Continue Reading


June 8, 2007

Chairman Dodd Unveils Plan to Help Students Afford College

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today announced that he will introduce legislation to help students and their families afford college. Chairman Dodd’s legislation would implement needed reforms in the private student lending market - the fastest-growing segment of the $85 billion student loan industry - and will help ensure that all students wishing to pursue a higher education are able to obtain the most competitive and afforda… Continue Reading


June 8, 2007

Chairman Dodd Unveils Plan to Help Students Afford College

Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today announced that he will introduce legislation to help students and their families afford college. Chairman Dodd’s legislation would implement needed reforms in the private student lending market - the fastest-growing segment of the $85 billion student loan industry - and will help ensure that all students wishing to pursue a higher education are able to obtain the most comp… Continue Reading


June 6, 2007

Opening Statement of Chairman Chris Dodd - Hearing on “Paying for College: The Role of Private Student Lending.”

The Committee will please come to order. This morning, the Committee examines the role of private student lending in keeping college affordable and accessible. I want to thank Attorney General Cuomo and our other witnesses for their appearance today. I can think of no more important topic that this Committee can address at this particular time. Our nation - and our world -- is growing more complex and interconnected by the day. Never has higher education been more crucial to the success o… Continue Reading


June 5, 2007

Chairman Dodd Announces Witnesses to Testify at Hearing on College Affordability and Private Student Lending

Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs and senior Democrat on the Senate Committee on Health, Education, Labor and Pensions, today announced that he expects the following witnesses to testify at the hearing he will convene tomorrow entitled “Paying for College: The Role of Private Student Lending.” At the hearing, Chairman Dodd will focus on the growth of the private educational loan market and its impact on college a… Continue Reading


May 31, 2007

Chairman Dodd Sends Letter to SEC:
Calls for Greater Disclosure on Investments in Iran, Sudan

Washington, D.C. - In keeping with his commitment to national security and economic opportunity, Senator Chris Dodd, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today sent a letter to Christopher Cox, Chairman of the U.S. Securities and Exchange Commission (SEC), urging the SEC to fully develop its Office of Global Security Risk to protect American investors from unknowingly becoming involved with sponsors of terrorism and human rights abuses, as mandated by law thre… Continue Reading


May 31, 2007

Chairman Dodd Sends Letter to SEC:
Calls for Greater Disclosure on Investments in Iran, Sudan

In keeping with his commitment to national security and economic opportunity, Senator Chris Dodd, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today sent a letter to Christopher Cox, Chairman of the U.S. Securities and Exchange Commission (SEC), urging the SEC to fully develop its Office of Global Security Risk to protect American investors from unknowingly becoming involved with sponsors of terrorism and human rights abuses, as mandated by law three years ago. Among… Continue Reading


May 31, 2007

Dodd Seeks More Action to Stop Genocide in Darfur

Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, applauded the President's announcement today that the Department of the Treasury would extend U.S. sanctions to 30 Sudanese companies and three individuals who, according to the Administration, have contributed to the mass murder of countless people in Darfur. Dodd also insisted that more remained to be done, announcing his intention to push for speedy enactment of his bill to … Continue Reading


May 31, 2007

Dodd Seeks More Action to Stop Genocide in Darfur

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, applauded the President's announcement today that the Department of the Treasury would extend U.S. sanctions to 30 Sudanese companies and three individuals who, according to the Administration, have contributed to the mass murder of countless people in Darfur. Dodd also insisted that more remained to be done, announcing his intention to push for speedy enactment of his bill to increase penalties … Continue Reading


May 31, 2007

Chairman Dodd Inquires About Supreme Court Case in Letter to SEC

Senator Chris Dodd, Chairman of the Committee on Banking, Housing, and Urban Affairs, on Friday sent a letter to Christopher Cox, Chairman of the U.S. Securities and Exchange Commission (SEC), regarding the Supreme Court’s upcoming consideration of a case that raises an important issue regarding securities law. In the letter, Chairman Dodd asks Chairman Cox whether the SEC plans to write an amicus brief in the Supreme Court case. If so, Chairman Dodd inquires whether the brief would advocate th… Continue Reading


May 25, 2007

Statement of Chairman Dodd on Fed Response to Letter Regarding HOEPA

Senator Dodd, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement regarding a letter he received from the Federal Reserve Board that was sent in response to the Chairman’s April 24th letter: “I appreciate the fact that the Federal Reserve Board will be holding a hearing to consider action under the Home Ownership and Equity Protection Act (HOEPA). In my view, a hearing is simply a first step in the Board fulfilling its obligation unde… Continue Reading


May 25, 2007

Statement of Chairman Dodd on Fed Response to Letter Regarding HOEPA

Senator Dodd, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement regarding a letter he received from the Federal Reserve Board that was sent in response to the Chairman’s April 24th letter: “I appreciate the fact that the Federal Reserve Board will be holding a hearing to consider action under the Home Ownership and Equity Protection Act (HOEPA). In my view, a hearing is simply a first step in the Board fulfilling its obligation unde… Continue Reading


May 24, 2007

Chairman Dodd Reacts to Securities and Exchange Commission Final New Rules Under Sarbanes-Oxley Act

Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, made the following statement in reaction to the final rule under Section 404 of the Sarbanes-Oxley Act that was approved by the Securities and Exchange Commission earlier today: “I believe that Sarbanes-Oxley Act is sound and has worked in achieving its over-arching goals of improving financial reporting, strengthening corporate governance and enhancing the integrity of analysts’ recommendati… Continue Reading


May 24, 2007

Chairman Dodd Reacts to Securities and Exchange Commission Final New Rules Under Sarbanes-Oxley Act

Washington - Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, made the following statement in reaction to the final rule under Section 404 of the Sarbanes-Oxley Act that was approved by the Securities and Exchange Commission earlier today: “I believe that Sarbanes-Oxley Act is sound and has worked in achieving its over-arching goals of improving financial reporting, strengthening corporate governance and enhancing the integrity of analysts’ … Continue Reading


May 23, 2007

Statement of Chairman Dodd on Federal Reserve's Proposal on Regulation Z

“I commend the Fed for undertaking this effort. I intend to study this proposal and give it the careful, thorough, and proper review that it deserves. It is vital that consumers have the clearest and most complete information possible about credit cards so they can make the most informed decisions about how to use them. However, improved disclosure is not in and of itself sufficient to protect consumers. I’ve introduced measures to address these issues in the past and am committed to contin… Continue Reading


May 23, 2007

Statement of Chairman Dodd on Federal Reserve's Proposal on Regulation Z

Washington, D.C. - “I commend the Fed for undertaking this effort. I intend to study this proposal and give it the careful, thorough, and proper review that it deserves. It is vital that consumers have the clearest and most complete information possible about credit cards so they can make the most informed decisions about how to use them. However, improved disclosure is not in and of itself sufficient to protect consumers. I’ve introduced measures to address these issues in the past and am … Continue Reading


May 23, 2007

Statement of Chairman Dodd on Conclusion of the Strategic Economic Dialogue and Banking Subcommittee Hearing on U.S.-China Economic Relations

One of the very first actions that I undertook as Chairman-elect of the Banking Committee in December 2006 was to write a letter with then-Chairman Shelby to the Treasury Secretary on the occasion of the first Strategic Economic Dialogue (“SED”). In January 2007, I chaired a hearing with Secretary Paulson on exchange rates and the SED. At that hearing, Treasury Secretary Paulson testified that the SED is the “best chance to get some progress [on the currency issue].” The second session of the… Continue Reading


May 22, 2007

Statement of Chairman Dodd on House GSE Action

“I commend Barney Frank and the House for their efforts. Homeownership is the cornerstone of the American dream and we need to do everything possible to make that dream a reality. Clearly, GSE’s can play an important role in advancing that goal. I believe our nation needs a stronger regulatory structure and a deeper commitment to meeting the housing needs of the American people. I am committed to continuing to find common ground to address this important issue in a bipartisan, timely and thought… Continue Reading


May 22, 2007

Statement of Chairman Dodd on House GSE Action

“I commend Barney Frank and the House for their efforts. Homeownership is the cornerstone of the American dream and we need to do everything possible to make that dream a reality. Clearly, GSE’s can play an important role in advancing that goal. I believe our nation needs a stronger regulatory structure and a deeper commitment to meeting the housing needs of the American people. I am committed to continuing to find common ground to address this important issue in a bipartisan, timely and tho… Continue Reading


May 22, 2007

Statement of Chairman Dodd on House ILC Vote

“As Chairman, I will continue to work with Ranking Member Shelby, and other members of the Senate Banking Committee in a thoughtful, deliberative manner to resolve outstanding issues regarding the ownership and regulation of industrial loan companies. I plan to review the House-passed bill, as well as other legislative proposals, and to solicit the views of other interested members as part of that process.”… Continue Reading

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