Minority Press Releases

July 28, 2010

DODD STATEMENT ON FEDERAL RESERVE GOVERNOR NOMINATIONS AND INSPECTOR GENERAL NOMINATIONS

WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held an executive session meeting where the committee approved three Federal Reserve Governor nominations and two Inspector General nominations. The nominations will now be sent to the Senate floor for a final confirmation vote. The Banking Committee approved the nominations of Janet L. Yellen for Vice Chair and a member of the Federal Reserve Board of Governors, Peter A. Diamond and Sarah Bloom Raskin for membership on… Continue Reading


July 27, 2010

DODD, SHELBY, MENENDEZ CALL FOR PASSAGE OF THE PUBLIC TRANSPORTATION SAFETY ACT

WASHINGTON - Following the National Transportation Safety Board's (NTSB) release of a summary report on Metro's Red Line collision, Banking Committee Chairman Chris Dodd (D-CT), Ranking Member Richard Shelby (R-AL), and Housing, Transportation, and Community Development Subcommittee Chairman Robert Menendez (D-NJ), authors of the Public Transportation Safety Act (S. 3638), called for the Senate to pass their legislation immediately. Last June, two trains on Metro's Red Line collided and killed … Continue Reading


July 21, 2010

DODD STATEMENT: PRESIDENT SIGNS WALL STREET REFORM

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement after the President signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. "At last, we have brought real change to the way Wall Street does business," said Dodd. "With this bill, we have protected taxpayers from being forced to bail out companies that threaten to bring down the economy. With new consumer protections the government will no longer sit idly by as consumers… Continue Reading


July 21, 2010

DODD STATEMENT ON THE SEMI-ANNUAL MONETARY POLICY REPORT TO CONGRESS

WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on the Federal Reserve's semi-annual monetary policy report to the Congress. The committee heard testimony from Federal Reserve Chairman Ben Bernanke. "Today the President signed into law the Wall Street reform bill. This bill is a comprehensive response to the financial crisis that has devastated our economy. The bill demands that regulators change the oversight of financial markets and fina… Continue Reading


July 15, 2010

DODD STATEMENT: HEARING ON FEDERAL RESERVE NOMINATIONS AND INSPECTOR GENERAL NOMINATIONS

WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a hearing on three Federal Reserve Governor nominations and two Inspector General nominations. The committee heard testimony from nominees Janet L. Yellen for Vice Chair and a member of the Federal Reserve Board of Governors, Peter A. Diamond and Sarah Bloom Raskin for membership on the Federal Reserve Board of Governors, Osvaldo Luis Gratacós Munet for Inspector General of the Export-Import Bank, and Stev… Continue Reading


July 12, 2010

DODD STATEMENT ON BIPARTISAN SUPPORT FOR THE WALL STREET REFORM BILL

WASHINGTON -- Senate Banking Committee Chairman Chris Dodd (D-CT) made the following statement on the announced support for the Wall Street reform bill by Senators Olympia Snowe, Susan Collins, and Scott Brown. "Today is a good day for Main Street America. With the support of Senators Olympia Snowe, Susan Collins, and Scott Brown, Wall Street reform is a step away from heading to the President's desk to be signed into law. These colleagues demonstrated how bipartisanship is supposed to w… Continue Reading


July 8, 2010

DODD REACTS TO TREASURY’S CURRENCY REPORT

WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) made the following statement in response to the Treasury Department's semi-annual Report on International Economic and Exchange Rate Policies submitted today to the Senate Banking Committee and House Financial Services Committee. "Today's Treasury report made clear for the record what we all already knew -- China continues to undervalue its currency," said Dodd. "For years, American workers have not been able to compete on a l… Continue Reading


July 2, 2010

FACT CHECK: COMMUNITY BANKS WIN WITH WALL STREET REFORM

REDUCING SYSTEMIC RISK - Community banks benefit when large banks pay for the risks they create to the system. Advance Warning System: Creates a systemic-risk regime that would rein in the size and scope of large, interconnected financial institutions. Tougher Supervision of Large, Interconnected Financial Companies: Large bank holding companies (those with over $50 billion in assets) and systemically important nonbank financial companies will face heightened risk-based capital, le… Continue Reading


July 1, 2010

DODD STATEMENT IN IRAN SANCTIONS BILL SIGNING

WASHINGTON -- Senate Banking Committee Chairman Chris Dodd (D-CT), co-author of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 along with House Foreign Affairs Chairman Berman, issued the following statement after President Obama signed the bill into law this evening. "The government of Iran engages in serious human rights abuses against its own citizens, funds terrorist activity throughout the Middle East, and is pursuing illicit nuclear activities which pose … Continue Reading


June 30, 2010

DODD PRAISES HOUSE PASSAGE OF WALL STREET REFORM

WASHINGTON -- Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement following House passage of the House-Senate Conference on the bill to bring accountability to Wall Street. The bill ends too big to fail bailouts, creates a new consumer financial protection watchdog, sets up an early warning system to protect our economy from future threats, and brings transparency and accountability to exotic instruments such as derivatives. "I congratulate the Hou… Continue Reading


June 29, 2010

COMMITTEE PASSES PUBLIC TRANSPORTATION SAFETY ACT

Bipartisan bill will improve transit safety oversight and establish national safety standards for transit systems across the country WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) held a mark up during which the Public Transportation Safety Act of 2010 was unanimously approved. The bipartisan bill, which will improve transit safety oversight and establish national safety standards, was authored by Chairman Dodd, Ranking Member Richard Shelby (R-AL), and Housing, … Continue Reading


June 25, 2010

DODD STATEMENT ON WALL STREET REFORM CONFERENCE

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on the conclusion of the House-Senate Conference on the bill to bring accountability to Wall Street. The bill creates a new consumer financial protection watchdog, ends too big to fail bailouts, sets up an early warning system to predict and prevent the next crisis, and brings transparency and accountability to exotic instruments such as derivatives. "This is a tremendous day," said Dodd. "… Continue Reading


June 22, 2010

DODD, SHELBY, MENENDEZ TO MARK UP NATIONAL TRANSIT SAFETY BILL

WASHINGTON - Today, Senate Banking, Housing, and Urban Affairs Committee Chairman Chris Dodd (D-CT), Ranking Member Richard Shelby (R-AL) and Housing, Transportation, and Community Development Subcommittee Chairman Robert Menendez (D-NJ) announced they will mark up their bipartisan legislation to establish national safety standards for transit systems across the country in the coming weeks. The announcement comes on the first anniversary of Metro's Red Line collision that killed eight passenger… Continue Reading


June 22, 2010

FRANK, DODD ANNOUNCE CONFERENCE SCHEDULE

Washington, DC - Today, Chairman Frank and Chairman Dodd announced that the House-Senate Conference will meet at 1 p.m. on Wednesday, June 23, and 9:30 a.m. on Thursday, June 24, in Room SD-106, Dirksen Senate Office Building, to consider the following issues: Wednesday, June 23 Pending offers and counter-offers Prudential regulation-title 6 of base text Thursday, June 24 Pending offers and counter-offers Derivatives-title 7 of base text Miscellaneous… Continue Reading


June 21, 2010

WALL STREET REFORM CONFERENCE UPDATE

Washington -Last week was a successful week for the House and Senate conferees for the bill to bring accountability to Wall Street. The bill creates a new consumer financial protection watchdog, ends too big to fail bailouts, sets up an early warning system to predict and prevent the next crisis, and brings transparency and accountability to exotic instruments such as derivatives. The following is a summary of the many provisions agreed to during the House-Senate conference last week. … Continue Reading


June 21, 2010

DODD, BERMAN STATEMENT ON IRAN SANCTIONS CONFERENCE REPORT AGREEMENT

WASHINGTON -- Today Senate Banking Committee Chairman Chris Dodd (D-CT) and House Foreign Affairs Committee Chairman Howard Berman (D-CA), Conference Co-chairs for the bill to strengthen Iran sanctions, announced they had reached an agreement on a draft joint text. The text will now be submitted to other Conferees for review. The bill will equip President Obama with a full range of tools to deal with the threats posed by Iran. It will impose new sanctions on businesses involved in supplying… Continue Reading


June 18, 2010

DEMOCRATS BRAZENLY OPPOSE BETTER CAPITAL STANDARDS

WASHINGTON, DC, Friday, June 18, 2010 -- U.S. Senator Richard Shelby (R-Ala.), ranking Republican on the Banking, Housing, and Urban Affairs Committee, today released a statement regarding Senate Democrats' opposition to an amendment related to capital standards that Republicans offered yesterday evening during the financial reform conference committee proceedings. A major contributor to the recent financial crisis was federal financial regulators' lack of diligence, coordination and fores… Continue Reading


June 18, 2010

CHAIRMEN FRANK, DODD ANNOUNCE TUESDAY CONFERENCE SCHEDULE

Washington, DC - Today, Chairman Frank and Chairman Dodd announced that the House-Senate Conference will meet at noon on Tuesday, June 22, in Room SD-106, Dirksen Senate Office Building, to consider the following issues: Tuesday, June 22 · Pending offers and Counter-offers from Week One · Consumer Financial Protection-CFPA/CFPB-title 10 of base text · Predatory lending-title 14 of base text · … Continue Reading


June 17, 2010

THE WALL STREET REFORM BILL: CONFERENCE UPDATE

Washington - Today House and Senate conferees again met on the bill to bring accountability to Wall Street. The bill creates a new consumer financial protection watchdog, ends too big to fail bailouts, sets up an early warning system to predict and prevent the next crisis, and brings transparency and accountability to exotic instruments such as derivatives. A list of House and Senate offers and counter offers can be found by clicking here. But it is also important to remember the ma… Continue Reading


June 15, 2010

CHAIRMEN FRANK, DODD ANNOUNCE UPCOMING CONFERENCE SCHEDULE

Washington, DC - Today, Chairman Frank and Chairman Dodd announced that the House-Senate Conference will meet on Wednesday, June 16, at 11 a.m. to consider the following titles: Wednesday, June 16 · Title 9, subtitles A, B, F, H, I and J of base text: Investor protection/regulatory improvements · Title 9, subtitles E and G of base text: Executive compensation/corporate governance · Title 11 of base text: … Continue Reading

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