Minority Press Releases

August 1, 2007

Dodd, Shelby Laud Committee Approval of Legislation to Protect U.S. Jobs, Combat China Currency Manipulation

Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, along with ranking Senator Richard Shelby (R-AL) today announced that the Committee passed S. 1677, the Currency Reform and Financial Markets Act of 2007. The legislation, which was introduced by Dodd and Shelby on June 21, is intended to level the playing field for American workers and businesses. China’s ongoing intervention to keep the yuan undervalued has contributed to… Continue Reading


August 1, 2007

Committee Passes Dodd Bill to Help Students Afford College

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today announced that the Committee passed without objection legislation introduced by Senator Dodd to help students and their families afford college. In keeping with Chairman Dodd’s commitment to preserving the American dream, the Private Student Loan Transparency and Improvement Act of 2007 would implement needed reforms in the private student lending market - the fastest-growing segment of the … Continue Reading


August 1, 2007

Committee Passes Dodd Bill to Help Students Afford College

Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today announced that the Committee passed without objection legislation introduced by Senator Dodd to help students and their families afford college. In keeping with Chairman Dodd’s commitment to preserving the American dream, the Private Student Loan Transparency and Improvement Act of 2007 would implement needed reforms in the private student lending market - the fastest-grow… Continue Reading


August 1, 2007

Dodd, Hagel Introduce Bill to Revitalize America’s Infrastructure

Washington, D.C. - Responding to a looming crisis that jeopardizes the prosperity and quality of life of all Americans, Senators Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, and Chuck Hagel, R-Neb., today introduced a measure to revitalize, repair, and replace America’s aging and crumbling roads, bridges, transit systems, and water treatment facilities. Two dramatic headlines in recent weeks have highlighted the escalating problem. Two weeks ago… Continue Reading


July 26, 2007

President Signs Dodd, Shelby CFIUS Legislation

Senators Chris Dodd, D-Conn., and Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, today commended the President for signing into law the Foreign Investment and National Security Act of 2007. The bill, authored in the Senate by Dodd and Shelby, will reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designation of a lead agency … Continue Reading


July 26, 2007

President Signs Dodd, Shelby CFIUS Legislation

Washington, D.C. - Senators Chris Dodd, D-Conn., and Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs, today commended the President for signing into law the Foreign Investment and National Security Act of 2007. The bill, authored in the Senate by Dodd and Shelby, will reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designatio… Continue Reading


July 26, 2007

Chairman Dodd Secures Transit Security Measure in 9/11 Bill

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, announced today that he has helped secure new transit security investments and improvements as part of a comprehensive 9-11 Conference Report finalized today by House and Senate conferees . The transit security legislation will provide additional resources -- $3.5 billion over the next four years -- distributed on the basis of risk, directly to public transit systems to better protect against te… Continue Reading


July 26, 2007

Chairman Dodd Secures Transit Security Measure in 9/11 Bill

Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, announced today that he has helped secure new transit security investments and improvements as part of a comprehensive 9-11 Conference Report finalized today by House and Senate conferees . The transit security legislation will provide additional resources -- $3.5 billion over the next four years -- distributed on the basis of risk, directly to public transit systems to better… Continue Reading


July 20, 2007

Statement of Banking Committee Chairman Chris Dodd and Ranking Member Richard Shelby on Federal Banking Regulators Agreement on Basel II Regulations

“We are pleased that federal banking regulators have reached a consensus on implementing the Basel II Capital Accords. The successful implementation of Basel II is vital to ensuring that the U.S. banking system is adequately capitalized and that U.S. financial services firms remain competitive in the global economy. As we stated in our letter to banking regulators on Tuesday, we believed that it was imperative that all four federal banking regulators support the final Basel II regulations. We… Continue Reading


July 18, 2007

Statement of Chairman Dodd in Reaction to Fed Chairman Bernanke Comments on the Home Ownership and Equity Protection Act (HOEPA)

“I am encouraged by today’s announcement. Mr. Bernanke and the Governors appear to finally acknowledge that they have a duty to act to protect consumers from abusive mortgage practices and products. Many of my colleagues and I have laid out a course we think the Board must follow to meet this obligation. It goes without saying that actions speak louder than words and the Fed now needs to spell out what they intend to specifically do to protect American homeowners. I intend to make that poin… Continue Reading


July 17, 2007

Dodd, Shelby Urge Regulators to Reach Consensus on Basel II

Senator Chris Dodd, D-Conn., and Senator Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Banking Committee, today wrote to the Federal Reserve, Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision, to urge them to reach a consensus on final regulations to implement Basel II. Click here for the full text of the letter.… Continue Reading


July 17, 2007

Dodd, Shelby Urge Regulators to Reach Consensus on Basel II

Washington, D.C. - Senator Chris Dodd, D-Conn., and Senator Richard Shelby, R-Ala., Chairman and Ranking Member of the Senate Banking Committee, today wrote to the Federal Reserve, Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision, to urge them to reach a consensus on final regulations to implement Basel II. Click here for the full text of the letter.… Continue Reading


July 12, 2007

Chairman Dodd Decries Increased Trade Deficit

Washington, D.C. - Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement in reaction to release of the U.S. trade deficit numbers, indicating that a third, or $20 billion, of the trade deficit in May was with China: “Today’s trade numbers indicate that the U.S. continues to run an unhealthy trade deficit at a pace of over $700 billion per year. More disturbing is that one-third of our deficit in the month of May… Continue Reading


July 12, 2007

Chairman Dodd Decries Increased Trade Deficit

Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement in reaction to release of the U.S. trade deficit numbers, indicating that a third, or $20 billion, of the trade deficit in May was with China: “Today’s trade numbers indicate that the U.S. continues to run an unhealthy trade deficit at a pace of over $700 billion per year. More disturbing is that one-third of our deficit in the month of May was with just one … Continue Reading


July 11, 2007

Dodd, Frank, Shelby, Bachus, and Maloney Laud House Passage of CFIUS Reform Legislation

Senators Chris Dodd (D-CT) and Richard Shelby (R-AL) and Representatives Barney Frank (D-MA), Spencer Bachus (R-AL), and Carolyn Maloney (D-NY), today applauded both the House and Senate for passing needed reforms of the Committee on Foreign Investments in the United States (CFIUS) for reviewing direct foreign investments for national security purposes. The Foreign Investment and National Security Act of 2007, H.R. 556, which passed the House in February and the Senate last month, will strength… Continue Reading


July 11, 2007

Dodd, Frank, Shelby, Bachus, and Maloney Laud House Passage of CFIUS Reform Legislation

WASHINGTON, D.C. - Senators Chris Dodd (D-CT) and Richard Shelby (R-AL) and Representatives Barney Frank (D-MA), Spencer Bachus (R-AL), and Carolyn Maloney (D-NY), today applauded both the House and Senate for passing needed reforms of the Committee on Foreign Investments in the United States (CFIUS) for reviewing direct foreign investments for national security purposes. The Foreign Investment and National Security Act of 2007, H.R. 556, which passed the House in February and the Senate last m… Continue Reading


July 9, 2007

Dodd, Shelby Laud Senate Passage of CFIUS Legislation

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 announced that the Senate passed the Foreign Investment and National Security Act of 2007 by unanimous consent. The bill would reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designation of a lead agency for each covered transaction, and pro… Continue Reading


July 9, 2007

Dodd, Shelby Laud Senate Passage of CFIUS Legislation

WASHINGTON, D.C. - 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 announced that the Senate passed the Foreign Investment and National Security Act of 2007 by unanimous consent. The bill would reform the Committee on Foreign Investment in the United States (CFIUS) by strengthening the role of the Director of National Intelligence, mandating the designation of a lead agency for each covered t… Continue Reading


June 29, 2007

Statement of Chairman Dodd on Subprime Mortgage Lending Guidance

"The regulators have taken an important step in the right direction, but it only gets us part way to our final goal." "I applaud the regulators for this guidance. It establishes, once and for all, the principle that lenders must seriously and fully consider a borrower's ability to pay a loan back, at the fully indexed rate, before making a mortgage loan. Had regulators enforced such a standard over the past several years, and had lenders abided by it, many of the problems that homeowners an… Continue Reading


June 21, 2007

Dodd, Shelby Introduce Currency and Market Access Legislation to Level the Playing Field for U.S. Workers and Companies

Responding to inadequate action by the Treasury Department to identify and address currency manipulation by our nation's largest trading partners, Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member of the Senate Banking Committee, today introduced the Currency Reform and Financial Markets Act of 2007 to level the playing field for American workers and businesses. The Senators intend to work with their fellow Banking Committee colleagues to ensure that the legislat… Continue Reading

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