Majority Press Releases
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
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
