Minority Press Releases

May 6, 2010

SHELBY: MAIN STREET SUPPORTS REPUBLICAN CONSUMER PROTECTION ALTERNATIVE

WASHINGTON, DC, Thursday, May 06, 2010 - U.S. Senator Richard Shelby (R-Ala.), ranking Republican on the Committee on Banking, Housing, and Urban Affairs, along with Sens. Corker, Bond, Johanns, and Murkowski, today held a press conference to discuss the Republican alternative to the Consumer Financial Protection Bureau in the Senate Democrats' financial regulatory reform bill. Shelby's remarks at the press conference are below. Attached are the text of the Republican consumer protection amend… Continue Reading


May 6, 2010

DODD STATEMENT ON GOP PROPOSAL TO GUT CONSUMER PROTECTIONS

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement during Senate debate of the Republican amendment to gut consumer protections in the bill to bring accountability to Wall Street. In his statement, Chairman Dodd provided a point by point critique of the Republican plan. "Mr. President, over these many months that we've been working on financial reform, I've spent a lot of time working with my friends across the aisle to build bipartisan… Continue Reading


May 5, 2010

SHELBY STATEMENT ON AMENDMENT TO END ‘TOO BIG TO FAIL’

WASHINGTON, DC Wednesday, May 5, 2010- U.S. Senator Richard Shelby (R-Ala.), today made the following statement regarding his support for an amendment to the financial reform bill currently being considered in the U.S. Senate. "Protecting taxpayers and ending bailouts are my top priorities in financial reform. Unfortunately, the bill Democrats originally brought to the Senate floor would have perpetuated back-door bailouts and institutionalized the notion that some firms in our country… Continue Reading


May 5, 2010

DODD STATEMENT ON REACHING AN AGREEMENT WITH SEN. SHELBY

WASHINGTON - Chris Dodd (D-CT), Chairman of the Senate Banking Committee, delivered the following statement on the agreement he reached with Ranking Member Richard Shelby (R-AL) on provisions for orderly liquidation and emergency liquidity programs in the bill to bring accountability to Wall Street. As prepared for delivery: "For over a year, Senator Shelby and I have been working on ways to end bailouts. And while we have had our differences in other areas, we have always shared a com… Continue Reading


April 30, 2010

SHELBY: ORTHODONTISTS COULD BE COVERED BY NEW ONEROUS CONSUMER PROTECTION LAWS

WASHINGTON, DC Friday, April 30, 2010 - U.S. Senator Richard Shelby (R-Ala.), ranking Republican on the Senate Banking Committee, today issued the following statement responding to claims by Senate Democrats that the new consumer bureaucracy would not cover orthodontists and other small businesses offering customers a line of credit. "Another day, another attempt by Democrats to mislead the American people about what they are up to as they force through another massive government takeover of… Continue Reading


April 30, 2010

SHELBY DELIVERS FLOOR STATEMENT ON FINANCIAL REFORM

WASHINGTON, DC Thursday, April 29, 2010 - U.S. Senator Richard Shelby (R-Ala.), ranking Republican on the Committee on Banking, Housing, and Urban Affairs, today delivered the following speech on the floor of the U.S. Senate regarding financial regulatory reform legislation. The full text of Shelby's statement, as prepared, is as follows: Floor Statement of Senator Richard Shelby Thursday, April 29, 2010 "Thank you Mr. President. "Before proceeding to my remarks on the b… Continue Reading


April 28, 2010

DODD: AN ORTHODONTIST IS NOT A SIGNIFICANT FINANCIAL PLAYER

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement responding to false claims by the Chamber of Commerce and Senate Republicans that the new bureau to protect consumers from abusive financial products and services would cover orthodontists and other small businesses offering customers a line of credit. "Another day, another misrepresentation of our efforts to bring accountability to Wall Street." "Today the Republican Leader came to the… Continue Reading


April 28, 2010

DODD STATEMENT: IT’S TIME FOR THIS DEBATE TO BEGIN

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on the news that Senate Republicans will at last allow debate on the bill to bring accountability to Wall Street. "For the last year and a half, I have worked with Senator Shelby as I crafted the bill to reform Wall Street. They have been productive talks, but I cannot agree to his desire to weaken consumer protections given the enormous abuses we have seen." "Our nation has been throu… Continue Reading


April 28, 2010

IRAN SANCTIONS BILL CONFEREES TO MEET

WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) announced House and Senate conferees on the Comprehensive Iran Sanctions, Accountability, and Divestment Act (S.2799 and H.R. 2194) will meet tomorrow at 1:00 PM. The Iranian regime has engaged in serious human rights abuses against its own citizens, funded terrorist activity throughout the Middle East, and pursued illicit nuclear activities posing a serious threat to the security of the United States and our allies. The Co… Continue Reading


April 28, 2010

DODD STATEMENT ON ANOTHER DISAPPOINTING DAY

WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement after Republicans again voted to prevent debate on Wall Street reform. "Today was another disappointing day." "Today, the Goldman Sachs hearings remind all of us of the terrible price our country paid for Wall Street recklessness leading up to the economic crisis." "And today, with this glaring reminder staring us in the face, our colleagues again voted to prevent Wall Street reform from e… Continue Reading


April 20, 2010

REID AND DODD, IN LETTER, CALL ON MCCONNELL TO STOP PROTECTING WALL STREET AND START SUPPORTING WALL STREET ACCOUNTABILITY

Washington, D.C. - Senate Majority Leader Harry Reid and Senate Banking Committee Chair Chris Dodd sent a written response to Senate Republican Leader Mitch McConnell today, responding to a recent letter from the Senate Republican Caucus outlining Republicans' intent to protect Wall Street and keep the same rules in place that brought America's economy to the brink of collapse. In their response, Reid and Dodd call out Republicans for "mischaracterizing the legislation and protecting Wall Stre… Continue Reading


April 16, 2010

DODD STATEMENT ON MCCONNELL LETTER

"Bring me your ideas, let's work on this together, let's debate the bill, and pass strong Wall Street reform to protect our country from the kinds of abuses that lost so many their jobs, their homes, and their life savings. But let's not engage in nonsense." WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement in response to a letter by Senate Republicans rejecting Dodd's Wall Street reform bill as being "partisan." "We can disagree over … Continue Reading


April 16, 2010

DODD STATEMENT ON SEC CHARGES AGAINST GOLDMAN SACHS

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on news the Securities and Exchange Commission charged Goldman, Sachs & Co. and one of its vice presidents with defrauding investors. "The SEC lawsuit against Goldman Sachs makes serious allegations involving securities fraud. I will not comment on ongoing litigation." "But let's be clear, we don't need to know the outcome of this case to know that the opaque nature of unregulated … Continue Reading


March 29, 2010

FACT CHECK: COMMUNITY BANKS WIN WITH FINANCIAL REFORM

WASHINGTON - Giant Wall Street banks are spending millions of dollars to lobby against financial reform. These giant firms face one problem, money can't buy you love. So, to try and sway public opinion, they are trying to take advantage of the well deserved reputation of their responsible smaller colleagues, community banks. Some giant Wall Street firms abused their customers and took enormous risks that nearly brought down our economy while our nation's nearly 8,000 community ban… Continue Reading


March 23, 2010

DODD STATEMENT: FINANCIAL REFORM MARKUP

Opening Statement of Sen. Chris Dodd Financial Reform: Full Committee Markup For three years now, dating back to our first hearings on home foreclosures in 2007, this committee has been studying the causes and effects of the worst financial crisis since the Great Depression. The effects are obvious. Some of the most prominent financial institutions in our country have been destroyed or seriously weakened - but as bad as that has been the far worse damage has been done to m… Continue Reading


March 19, 2010

DODD CALLS FOR DOJ TASK FORCE TO INVESTIGATE CRIMINAL ACTIVITIES AT LEHMAN & ELSEWHERE

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) sent a letter to Attorney General Eric Holder asking that he commission a task force to investigate activities at Lehman Brothers and other companies that may have engaged in similar accounting manipulation with a view to prosecution of those who broke of the law. Below is the text of the letter: March 19, 2010 The Honorable Eric H. Holder, Jr. Attorney General of the United States United States Department o… Continue Reading


March 16, 2010

RESTORING AMERICAN FINANCIAL STABILITY

Remarks of Sen. Chris Dodd March 15, 2010 As prepared for delivery Two years ago today, Bear Stearns - a fixture of the American financial system for 75 years - was collapsing. Six months later to the day - September 15, 2008 - Lehman Brothers filed for bankruptcy. Today, it is tempting to see those shocking failures as the beginning of the crisis that has claimed millions of jobs, billions of dollars in retirement security, and trillions of dollars in American wealth. … Continue Reading


March 11, 2010

DODD STATEMENT ON FINANCIAL REFORM

WASHINGTON - Today Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on financial reform. "On Monday, I will present to my colleagues a substitute to the original financial reform package, unveiled last November." "Over the last few months, Banking Committee members have worked together to try and produce a consensus package. Together we have made significant progress and resolved a many of the items, but a few outstanding issues remain." "It has alw… Continue Reading


March 4, 2010

DODD REITERATES PRIORITIES FOR CONSUMER PROTECTIONS

WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) today issued the following statement on financial reform in which he reiterated the importance of including a strong, independent consumer protection watchdog with real authority to crack down on abusive practices. "A lot of attention is being paid to what address the new consumer watchdog will have, but the critical question is will this office have the authority and independence it needs to prevent a replay of the abuses … Continue Reading


February 25, 2010

DODD: RECOVERY “NOT GOOD ENOUGH”

WASHINGTON - Today, Senate Banking Committee Chairman Chris Dodd (D-CT) outlined just how much work is left to be done to repair our economy at a hearing to consider Federal Reserve Chairman Ben Bernanke's Semiannual Monetary Policy Report to Congress. "Today, as you testify before us, it is worth taking a moment to recognize that our economy is showing signs of emerging from this recession. During the last two quarters, GDP has shown positive growth, as has gross private domestic investmen… Continue Reading

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