Minority Press Releases

July 9, 2008

TUESDAY: BERNANKE TO DELIVER MONETARY POLICY REPORT TO THE SENATE BANKING COMMITTEE

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today announced that Federal Reserve Board Chairman Ben Bernanke will appear before the Committee next week to deliver the Semiannual Monetary Policy Report to the Congress. The Committee's procedures for media review of the monetary policy report and testimony are also detailed below. HEARING DETAILS: WHO: Chairman Chris Dodd Members of the Senate Banking Committee Chair… Continue Reading


July 7, 2008

DODD STATEMENT ON SEC-FED MEMORANDUM OF UNDERSTANDING

WASHINGTON, DC - Senator Chris Dodd, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs released the following statement today on the Memorandum of Understanding (MOU) that was entered into by the SEC and Fed. "It is my hope that the MOU will result in improved supervision of investment banks and bank holding companies, and strengthen our financial markets for investors and our nation's economy. It is important to note that the MOU does not grant any new authority to … Continue Reading


July 2, 2008

Senators Comment on Currency Legislation

WASHINGTON - U.S. Senators Max Baucus (D-Mont.), Christopher Dodd (D-Conn.), Chuck Grassley (R-Iowa), and Richard Shelby (R-Ala.) issued a brief statement today regarding recent meetings on the issue of legislation to address international currency issues. The Chairmen and Ranking Members of the Senate Finance and Banking Committees have introduced currency bills in the last year, and are working together toward legislation to address currency exchange rate regimes. "Last week, the four of us … Continue Reading


June 27, 2008

DODD, SHELBY URGE TREASURY, FED, SEC TO WORK WITH CONGRESS ON REGULATORY REFORM EFFORTS

WASHINGTON, DC - 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 sent a letter to the heads of the U.S. Treasury Department, Federal Reserve Board, and Securities and Exchange Commission regarding reports that the agencies are working on an agreement to reform the regulation of U.S. financial institutions. In the letter, Dodd and Shelby recognize the agencies' efforts to improve and streamline… Continue Reading


June 26, 2008

SENATE BANKING COMMITTEE CONFIRMS TEN NOMINEES

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today announced that the Committee confirmed the nominations of three individuals to serve on the Securities and Exchange Commission, as well as several other nominees for positions within the Administration. The Banking Committee has approved a total of 24 nominees, including those confirmed today, during the 110th Congress. The following ten nominees passed the Committee unanim… Continue Reading


June 25, 2008

Bill Being Considered on the Floor

Click link for copy of Bill being considered on the floor… Continue Reading


June 24, 2008

DODD STATEMENT ON RECORD DECLINE IN HOME VALUES AND CONSUMER CONFIDENCE

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement on the historic decline in home values as recorded by the Case-Shiller index, which measures home values in 20 metro areas across the country, and the record drop in consumer confidence as surveyed by the Conference Board: "This data shows that the housing crisis continues to worsen, reducing home values across the country and potentially forcing mil… Continue Reading


June 20, 2008

FAVORABLE REACTION TO THE HOUSING AND ECONOMIC RECOVERY ACT OF 2008

Note: The Housing and Economic Recovery Act being considered on the Senate floor this week includes many measures, such as the HOPE for Homeowners Act, the National Housing Trust Fund, the Capital Magnet Fund, and the Federal Housing Finance Regulatory Reform Act, all of which are referred to below. Information about each measure can be found in a summary of the Housing and Economic Recovery Act, available here: http://banking.senate.gov/public/_files/HousingandEconomicRecoveryActSummary.pdf … Continue Reading


June 19, 2008

DODD, SHELBY RESPOND TO ADMINISTRATION'S VETO THREAT

"This is a disappointing response. We believe this legislation represents a compromise that will bring relief to hundreds of thousands of homeowners and the housing markets without putting the American taxpayer at risk. All the pieces of this package have overwhelming bipartisan support. Furthermore, the legislation includes two major provisions that the Administration has urged the Congress to pass, FHA Modernization and GSE reform. We hope the White House will reconsider its position." -… Continue Reading


June 17, 2008

DODD, SHELBY ANNOUNCE HOUSING BILL TO BE CONSIDERED BY SENATE

WASHINGTON, DC - Today, Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, announced that they have completed bipartisan legislation that includes major efforts to address the housing crisis. By providing relief to hundreds of thousands of American homeowners and introducing broad improvements to the nation's housing system, the legislation will help to contain the current problems in the housing marke… Continue Reading


June 6, 2008

DODD STATEMENT ON JOB LOSS, UNEMPLOYMENT DATA

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement on data from the Bureau of Labor Statistics that the unemployment rate rose by half a percentage point, the sharpest monthly increase in over 20 years, while the economy lost jobs for the fifth consecutive month. "This morning's employment numbers are yet another indication of the terrible toll that the housing crisis is taking on our nation's … Continue Reading


June 5, 2008

Final Version of the GSE bill

Click link for copy of Final Version of GSE Bill… Continue Reading


June 3, 2008

THURSDAY: DODD TO QUESTION BANK REGULATORS ON STATE OF BANKING INDUSTRY

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, this week will hold a second hearing on the state of the banking industry where he will question regulators on their role in the current economic downturn the United States is experiencing and potential solutions to stabilize the industry and the economy. At the first hearing on this subject earlier this year, Dodd emphasized the important responsibility that regulators have to e… Continue Reading


May 28, 2008

Dodd Statement on Announcement of Mishkin Resignation

"I thank Dr. Mishkin for his service to the Federal Reserve and to the nation. His tenure at the Fed was during one of the most critical and important economic periods of the nation's history and I am very grateful and appreciative for his service and his work at the Board of Governors." -30-… Continue Reading


May 27, 2008

DODD STATEMENT ON FALLING HOME VALUES

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today issued the following statement on news that home values declined 14.1% in the first quarter since last year: "This data underscores the magnitude of the crisis occurring in the housing market, which is the root of our economic problems. As home values plummet, families are struggling to make timely payments on mortgages that cost more than the homes they live in. Too ofte… Continue Reading


May 20, 2008

SENATE BANKING COMMITTEE PASSES MAJOR BIPARTISAN HOUSING LEGISLATION

WASHINGTON, DC - Senator Chris Dodd (D-CT) and Senator Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, today announced that the Committee passed "The Federal Housing Finance Regulatory Reform Act of 2008," legislation which includes major efforts to help prevent the rising number of foreclosures, to create more affordable housing for Americans, and to reform the regulation of the government-sponsored enterprises (GSEs) in order t… Continue Reading


May 19, 2008

DODD, SHELBY ANNOUNCE AGREEMENT ON HOUSING LEGISLATION

WASHINGTON, DC - Senator Chris Dodd (D-CT) and Senator Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, today announced they have reached an agreement on legislation that the Committee will consider tomorrow, "The Federal Housing Finance Regulatory Reform Act of 2008," which includes major efforts to help prevent the rising number of foreclosures, to create more affordable housing for Americans, and to reform the regulation of the… Continue Reading


May 16, 2008

DODD ANNOUNCES COMMITTEE CLOSE TO BIPARTISAN AGREEMENT ON HOUSING LEGISLATION

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after announcing that the Committee will continue its consideration of legislation entitled "The Federal Housing Finance Regulatory Reform Act of 2008" next week: "Senator Shelby and I are very close to reaching an agreement on this important piece of legislation, and are working with each other and other members of the Committee to resolve the few … Continue Reading


May 13, 2008

DODD, SHELBY LAUD SENATE PASSAGE OF LEGISLATION TO BETTER PROTECT AMERICANS FROM FLOODS

WASHINGTON, DC - Senator Chris Dodd (D-CT) and Senator 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 Flood Insurance Reform and Modernization Act by a vote of 92 to 6. This legislation reforms and strengthens the National Flood Insurance Program, a critical component in ensuring that families are able to rebuild their homes, businesses and lives after a flood. The bill puts the progr… Continue Reading


May 12, 2008

DODD ANNOUNCES COMMITTEE CONSIDERATION OF COMPREHENSIVE HOUSING LEGISLATION

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today announced that the Committee will meet in executive session on Thursday to consider "The Federal Housing Finance Regulatory Reform Act of 2008," a bill that includes major efforts to help prevent the rising number of foreclosures and to reform the regulation of the government-sponsored enterprises (GSEs) in order to improve their role in the housing finance system. WHO: Ch… Continue Reading

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