Minority Press Releases

May 8, 2008

DODD STATEMENT ON HOUSE PASSAGE OF HOUSING PACKAGE

"The passage of this bipartisan measure sends a clear signal to Americans - and the White House - that Congress is committed to helping people keep their homes and stabilize the markets. I am working with my colleagues in the Senate Banking Committee to pass bipartisan legislation to reduce foreclosures and restore liquidity to the mortgage market." -30-… Continue Reading


May 7, 2008

DODD STATEMENT ON PRESIDENT'S COMMENTS AGAINST CONGRESSIONAL EFFORTS TO HELP HOMEOWNERS, ECONOMY

"This morning the President finally declared where he stands on the housing and economic crisis that is spreading throughout our country and affecting tens of millions of Americans. And he is not on the side of those Americans. Flanked by Congressional leaders of his own party, he threatened to veto comprehensive legislation to address that crisis that has bipartisan support. Clearly he doesn't seem to be heeding the advice of his own former Chief Economist and current Fed Chairman Ben Bernanke,… Continue Reading


May 2, 2008

DODD PRAISES FED'S DECISION TO TAKE ACTION ON STUDENT LOANS

WASHINGTON, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee today responded to the Fed's decision to accept government-backed student loan securities as collateral. Two weeks ago, Chairman Dodd and other members of the Committee sent a letter to Federal Reserve Board Chairman Ben Bernanke urging him to take such a step in order to ensure the availability and accessibility of educational loans for students during the upcoming academic year. … Continue Reading


May 2, 2008

DODD STATEMENT ON FED'S PROPOSED REGULATIONS FOR CREDIT CARD COMPANIES

WASHINGTON, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee today released the following statement on proposed regulations for credit card companies put forth by the Federal Reserve, the Office of Thrift Supervision(OTS) and the National Credit Union Administration (NCLU). "The last thing Americans who are already being squeezed by a weak economy, skyrocketing gas costs, increasing health care costs and rising food costs need is to be … Continue Reading


May 1, 2008

DODD STATEMENT ON HOUSE FINANCIAL SERVICES COMMITTEE PASSAGE OF HOUSING PACKAGE

"Our top priority right now should be helping people keep their homes, and this is another step in the right direction. I commend Chairman Frank for his perseverance and dedication to addressing the foreclosure crisis that is spreading through our neighborhoods, communities, and markets. I am committed to working on bipartisan legislation with my colleagues in the Senate Banking Committee to reduce foreclosures and restore liquidity to the mortgage market." -30-… Continue Reading


April 30, 2008

DODD INTRODUCES MAJOR REFORM OF CREDIT CARD PRACTICES; BELIEVES INDUSTRY CHANGES ARE NECESSARY TO PROTECT AMERICAN CONSUMERS

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today introduced comprehensive legislation to improve credit card billing, marketing, and disclosure practices. The Credit Card Accountability, Responsibility and Disclosure Act (the C.A.R.D. Act) is aimed at stopping credit card practices that drag consumers into staggering amounts of debt, and too often harm, rather than help, the ability of American families to move up the eco… Continue Reading


April 30, 2008

DODD STATEMENT ON FDIC MORTGAGE RELIEF PROPOSAL

"As a result of Chairman Bair's leadership, the FDIC has been at the forefront of addressing the mortgage crisis. It comes as no surprise, then, that she has put forward a constructive proposal that is worthy of Congress' serious consideration. I look forward to further reviewing the details of the plan." -30-… Continue Reading


April 30, 2008

DODD STATEMENT ON FED RATE CUT

"The Federal Reserve Board's decision illustrates their commitment to using the tools available to them to help provide growth and liquidity to our economy. But the Fed cannot go it alone - trying to fix these economic problems solely with rate cuts is like trying to follow a recipe with only some of the ingredients. The Administration should be equally aggressive in responding to the trouble in the mortgage markets - which is the heart of the overall economic crisis. If they are questioning … Continue Reading


April 29, 2008

DODD TO INTRODUCE MAJOR REFORM OF CREDIT CARD PRACTICES

WASHINGTON, DC - Tomorrow, Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, will introduce comprehensive legislation to improve credit card billing, marketing, and disclosure practices. The Credit Card Accountability, Responsibility and Disclosure Act (the C.A.R.D. Act) is aimed at stopping abusive credit card practices that drag consumers into staggering amounts of debt, and too often harm, rather than help, the ability of American families to … Continue Reading


April 23, 2008

DODD ON ADMINISTRATION'S RESPONSE TO STUDENT LOAN MARKET INQUIRY: "DISAPPOINTING"

"The Administration's letter is disappointing. While it rightly supports proposals by my colleagues to authorize the Department of Education to take steps to prevent a significant disruption from occurring in the student loan market, the letter fails to respond to questions posed by members of the Senate Banking Committee as to what actions the Treasury Department is willing to take to prevent that crisis from occurring. Perhaps most troubling, the letter offers a one-sentence rejection of the… Continue Reading


April 23, 2008

DODD TO HOLD HEARING ON FOREIGN GOVERNMENT INVESTMENTS IN UNITED STATES

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced that tomorrow he will continue the series of hearings that he is holding on the turmoil in the U.S. credit markets, and ways to ensure stability and soundness in our economy. Tomorrow's hearing will focus on the regulatory framework currently in place to evaluate a source of capital that some financial institutions have turned to in order to address their liquidity short… Continue Reading


April 21, 2008

DODD WORKS TO GUARANTEE FAMILIES HAVE THE RESOURCES THEY NEED FOR HIGHER EDUCATION

WASHINGTON, D.C. - Senator Chris Dodd (D-CT), senior member of the Senate Health, Education, Labor, and Pensions Committee and Chairman of its Subcommittee on Children and Families, was joined by Senators Kennedy (D-MA), Brown (D-OH), Murray (D-WA), Sanders (I-VT), and Clinton (D-NY) in introducing the PLUS Loan Borrower Protection Act today. The bill is designed to ensure that students and parents can qualify for PLUS loans even if they have had trouble making their mortgage payments in light … Continue Reading


April 21, 2008

DODD TO HOLD HEARING ON ROLE OF CREDIT RATING AGENCIES IN MARKET TURMOIL

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced that tomorrow he will continue the series of hearings that he is holding on what led to the turmoil in the U.S. credit markets, and solutions to restore stability and soundness to the economy. Tomorrow's hearing will focus on the role of the credit rating agencies in the current credit crisis, and potential measures to improve their accuracy and performance. WHO: … Continue Reading


April 18, 2008

DODD STATEMENT ON HUD SECRETARY NOMINEE STEVEN PRESTON

"As our nation faces the biggest housing crisis in recent history, we need a strong leader at the Department of Housing and Urban Development who is dedicated to helping people keep their homes, restoring stability and confidence in the mortgage market, and creating more affordable housing opportunities. These priorities call for a leader with expertise in housing issues, yet the President's choice has no apparent housing background, which raises questions. Nevertheless, I look forward to lear… Continue Reading


April 17, 2008

DODD, BANKING COMMITTEE MEMBERS URGE TREASURY, FED TO TAKE ACTION TO AVERT CRISIS IN STUDENT LOAN MARKET

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, along with other members of the Committee, today sent letters to Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke urging each to take action to ensure that lenders are able to continue providing educational loans to students and their families. Millions of American students are receiving acceptance letters from colleges and universities this month, a… Continue Reading


April 15, 2008

DODD TO ASK TREASURY, FED TO TAKE ACTION TO HELP AVERT CRISIS IN STUDENT LOAN MARKET

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today held a hearing to examine how the turmoil in the U.S. credit markets, an outgrowth of the mortgage market crisis, is affecting the cost and availability of student loans. Thousands of American students are receiving acceptance letters from colleges and universities this month, and are working with schools and their families to explore and secure financing options, including … Continue Reading


April 15, 2008

DODD TO HOLD SECOND HEARING ON HOPE FOR HOMEOWNERS PROPOSAL

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced that tomorrow he will hold the second in a series of hearings on solutions to mitigate the rising number of foreclosures occurring across the nation, which have led to turmoil in the mortgage and credit markets. Dodd will hear from witnesses on his HOPE for Homeowners proposal, which would create a new initiative within the Federal Housing Administration to refinance mo… Continue Reading


April 14, 2008

DODD TO HOLD HEARING ON IMPACT OF CREDIT CRUNCH ON STUDENT LOAN MARKET

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee Banking Committee and senior Democrat on the Senate Education Committee, will hold a hearing tomorrow to examine how the recent turmoil in U.S. credit markets is affecting the cost and availability of student loans. Witnesses will testify on how the tightening of credit, a result of the subprime mortgage crisis, may make it more difficult for some student lenders to provide educational loans for students and their fami… Continue Reading


April 11, 2008

DODD TO HOLD HEARING ON IMPACT OF CREDIT CRUNCH ON STUDENT LOAN MARKET

WASHINGTON, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee Banking Committee and senior Democrat on the Senate Education Committee, today announced that he will hold a hearing to examine how the recent turmoil in U.S. credit markets is affecting the cost and availability of student loans. Witnesses will testify on how the tightening of credit, a result of the subprime mortgage crisis, may make it more difficult for some student lenders to provide educational loans for students… Continue Reading


April 11, 2008

DODD STATEMENT ON GROWING SUPPORT OF APPROACH TO HELP HOMEOWNERS

"There is a growing chorus among housing experts, economists, and Democratic and Republican policymakers that more must be done to help people keep their homes and bring an end to the foreclosure crisis currently gripping our country and our economy. Most recently, Senator McCain introduced a policy echoing an idea that I proposed several weeks ago - to create a temporary, voluntary program within FHA to help distressed borrowers refinance their mortgages. In addition to Senator McCain, Chairma… Continue Reading

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