May 23, 2007

Statement of Chairman Dodd on Federal Reserve's Proposal on Regulation Z

“I commend the Fed for undertaking this effort. I intend to study this proposal and give it the careful, thorough, and proper review that it deserves. It is vital that consumers have the clearest and most complete information possible about credit cards so they can make the most informed decisions about how to use them. However, improved disclosure is not in and of itself sufficient to protect consumers. I’ve introduced measures to address these issues in the past and am committed to continuing to look at any and all options – including introducing legislation – to protect consumers.”