Majority Press Releases
Dodd Unifies Industry Members, Consumer Representatives to Help Preserve American Dream of Home Ownership
UPDATE: DODD COMMENDS BEAR STEARNS’ AGREEMENT TO PRINCIPLES Chairman Dodd announced that Bear Stearns will join the organizations and companies mentioned below in agreeing to the Homeownership Preservation Summit Statement of Principles he released earlier today (attached). Chairman Dodd commends Bear Stearns for its leadership on this issue. As part of his efforts to preserve homeownership for millions of American families and to strengthen local communities and our nation’s economy,… Continue Reading
May 2, 2007
Dodd Unifies Industry Members, Consumer Representatives to Help Preserve American Dream of Home Ownership
UPDATE: DODD COMMENDS BEAR STEARNS’ AGREEMENT TO PRINCIPLES Chairman Dodd announced that Bear Stearns will join the organizations and companies mentioned below in agreeing to the Homeownership Preservation Summit Statement of Principles he released earlier today (attached). Chairman Dodd commends Bear Stearns for its leadership on this issue. As part of his efforts to preserve homeownership for millions of American families and to strengthen local communities and our nation’s economy,… Continue Reading
April 25, 2007
Chairman Dodd, Banking Committee Democrats Urge Bernanke to Follow Law to Help Curb Predatory Lending Practices in Subprime Market
Democrats on the Senate Committee on Banking, Housing and Urban Affairs joined Chairman Chris Dodd (D-CT) today in sending a letter urging Federal Reserve Board Chairman Ben Bernanke to exercise its obligations under the Home Ownership and Equity Protection Act (HOEPA) of 1994 to issue regulations that address predatory lending practices in the subprime mortgage market. In the letter, Committee members recommend the Fed take the following actions to fully implement its authority under the law: … Continue Reading
April 25, 2007
Dodd-Shelby Amendment Passes – Supports Investor Protections and SEC Efforts to Ease Burden on Small Business
Washington, D.C. Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Ranking Member Richard Shelby (R-AL) yesterday introduced an amendment to S. 761, the America Competes Bill. The Dodd-Shelby amendment passed by a vote of 97 to 0. The Amendment expresses the sense of the Senate that small businesses play a critical role in the economy, and that the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Bo… Continue Reading
April 25, 2007
Dodd - Shelby Amendment Passes – Supports Investor Protections and SEC Efforts to Ease Burden on Small Business
Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with Ranking Member Richard Shelby (R-AL) yesterday introduced an amendment to S. 761, the America Competes Bill. The Dodd-Shelby amendment passed by a vote of 97 to 0. The Amendment expresses the sense of the Senate that small businesses play a critical role in the economy, and that the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) shou… Continue Reading
April 23, 2007
Chairman Dodd, Banking Committee Democrats Urge Bernanke to Follow Law to Help Curb Predatory Lending Practices in Subprime Market
Democrats on the Senate Committee on Banking, Housing and Urban Affairs joined Chairman Chris Dodd (D-CT) today in sending a letter urging Federal Reserve Board Chairman Ben Bernanke to exercise its obligations under the Home Ownership and Equity Protection Act (HOEPA) of 1994 to issue regulations that address predatory lending practices in the subprime mortgage market. In the letter, Committee members recommend the Fed take the following actions to fully implement its authority under the law: … Continue Reading
April 18, 2007
DODD CONVENES HOMEOWNERSHIP PRESERVATION SUMMIT
Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today convened a meeting of leaders of some of the largest subprime mortgage lenders, securitizers, and servicers, as well as consumer and civil rights groups, to discuss ideas and develop solutions to the subprime mortgage market crisis which is currently threatening millions of Americans to foreclose on their homes in the near future. The leaders met in a closed-door session which Dodd moderate… Continue Reading
April 18, 2007
Dodd Convenes Homeownership Preservation Summit
Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today convened a meeting of leaders of some of the largest subprime mortgage lenders, securitizers, and servicers, as well as consumer and civil rights groups, to discuss ideas and develop solutions to the subprime mortgage market crisis which is currently threatening millions of Americans to foreclose on their homes in the near future. The leaders met in a closed-door session which Dodd moderated… Continue Reading
April 17, 2007
Statement of Senator Dodd on Supreme Court Ruling on Watters v. Wachovia
“Today's Supreme Court decision may have settled legal questions regarding the regulation of the operating subsidiaries of national banks. “I plan to carefully examine today's Court's decision and to consider with equal care its impact on the future of bank regulation. In doing so, I intend to look closely at the commitment displayed by federal banking regulators to upholding their safety and soundness duties and their equally important consumer protection and enforcement responsibilities.”… Continue Reading
April 11, 2007
DODD: “ We must protect Americans from natural disasters, and assure them that when disaster strikes, they will be able to rebuild their homes, their businesses and their lives.”
In light of the hardships facing homeowners and businesses in coastal regions to insure themselves against hurricanes and other natural disasters, Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today convened a hearing entitled “An Examination of the Availability and Affordability of Property and Casualty Insurance in the Gulf Coast and Other Coastal Regions.” At the hearing, Dodd proposed four actions to help Americans afford property in… Continue Reading
April 11, 2007
Opening Statement of Chairman Chris Dodd - Hearing on "Availability and Affordability of Property and Casualty Insurance in the Gulf Coast and Other Coastal Regions"
The Committee will please come to order. I want to welcome everyone to today’s hearing on the “Availability and Affordability of Property and Casualty Insurance in the Gulf Coast and Other Coastal Regions.” Let me first thank the witnesses who are appearing before the Committee today. I want to particularly thank my colleague Senator Nelson and Governor Crist for appearing at the hearing today, and also Senator Landrieu, who was planning to testify this morning but was called back to her stat… Continue Reading
April 4, 2007
Statement of Senator Dodd on New Century Corp's Bankruptcy Filing
“New Century’s filing for bankruptcy protection is yet another illustration of the depth and breadth of the turmoil in the subprime mortgage market. In addition to the millions of Americans at risk of losing their homes, now thousands of New Century employees are facing unemployment. I hope that this announcement sends a serious signal to the federal regulators and other participants in the mortgage finance industry that they must make immediate changes in order to prevent any more Americans f… Continue Reading
March 29, 2007
Statement of Senator Dodd on House GSE Mark
“I congratulate Barney Frank and Spencer Bachus for their action today. I continue to believe that GSE reform is appropriate and necessary. There is a consensus that we need a stronger, more independent regulator with a deeper commitment to affordable housing. I look forward to working with Senator Shelby and other members of the Committee to move this important issue forward.”… Continue Reading
March 29, 2007
Dodd Transit Security Priority Receives New Resources
Continuing his fight to protect Americans from the threat of terrorism, Senator Chris Dodd (D-CT) today announced that the Senate has approved an additional $625 million in new resources to help improve transit and rail security and safety nationwide. The funding, approved as part of the Supplemental Appropriations measure approved today, is in addition to the $175 million approved last month as part of the Fiscal Year 2007 budget. The $800 million total is more than all of the funding app… Continue Reading
March 29, 2007
Dodd Transit Security Priority Receives New Resources
Washington, D.C. - Continuing his fight to protect Americans from the threat of terrorism, Senator Chris Dodd (D-CT) today announced that the Senate has approved an additional $625 million in new resources to help improve transit and rail security and safety nationwide. The funding, approved as part of the Supplemental Appropriations measure approved today, is in addition to the $175 million approved last month as part of the Fiscal Year 2007 budget. The $800 million total is more than all of th… Continue Reading
March 28, 2007
DODD COMMENDS HOUSE PASSAGE OF TRANSIT SECURITY
Washington, D.C. -- Senator Chris Dodd (D-CT) today commended the House for approving a transportation measure, the Rail and Public Transportation Security Act of 2007, to bolster transit and rail security and safety nationwide. Senator Dodd, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, recently successfully won Senate approval for a measure passed out of his committee that will provide additional resources -- $3.5 billion over the next three years -- distributed on … Continue Reading
March 28, 2007
DODD COMMENDS HOUSE PASSAGE OF TRANSIT SECURITY
Senator Chris Dodd (D-CT) today commended the House for approving a transportation measure, the Rail and Public Transportation Security Act of 2007, to bolster transit and rail security and safety nationwide. Senator Dodd, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, recently successfully won Senate approval for a measure passed out of his committee that will provide additional resources -- $3.5 billion over the next three years -- distributed on the basis of risk, d… Continue Reading
March 22, 2007
DODD PROTECTS HOMEOWNERSHIP, PRESERVES AMERICAN DREAM
Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today heard from regulators, industry executives, and consumers at a hearing he convened to investigate the subprime mortgage crisis that could cause 2.2 million homeowners to lose their homes in the next few years. Today’s hearing, entitled “Mortgage Market Turmoil: Causes and Consequences,” was one element of Dodd’s comprehensive approach to the problem of rising home foreclosures and defaults,… Continue Reading
March 22, 2007
Opening Statement of Chairman Chris Dodd - Hearing on "Mortgage Market Turmoil: Causes and Consequences"
I want to welcome everyone to today’s hearing, which we have entitled “Mortgage Market Turmoil: Causes and Consequences.” You cannot pick up a newspaper lately without seeing another story about the implosion of the subprime mortgage market. The checks and balances that we are told exist in the marketplace, and the oversight that the regulators are supposed to exercise, have been absent until recently. Our mortgage system appears to have been on steroids in recent years - giving everyon… Continue Reading
March 21, 2007
Opening Statement of Chairman Chris Dodd - Hearing on "Minimizing Potential Threats from Iran: Assessing the Effectiveness of Current US Sanctions on Iran"
Good morning, and welcome to all of you: Under Secretary Burns, Under Secretary Levey, and Acting Under Secretary Foulon. Thank you for joining us today. Let me take a minute to lay out how we are going to proceed this morning. Under Secretary Burns has a meeting later this morning with the President, and so must leave a little early. I appreciate his willingness to join us early this morning, and want to do what I can to accommodate his and the President’s schedule. I propose that Sen… Continue Reading
