Majority Press Releases
Statement of Senator Chris Dodd, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, on Citigroup Decision on Credit Cards
“I commend Citigroup for taking this positive step to reform their credit card practices. As I’ve stated previously, I believe credit cards have an important role to play and that they are a valuable and important tool to help consumers build more financially secure and prosperous lives. However, a number of practices within the credit card industry have in many cases weakened rather than strengthened consumers’ financial well-being as they strive to attain financial security and prosperity. … Continue Reading
February 28, 2007
Opening Statement of Chairman Chris Dodd - Hearing on "Examining the Terrorism Risk Insurance Program"
Earlier this year, upon assuming the chairmanship of this Committee, I stated that the Committee should focus on two overarching goals -maintaining and improving our nation’s security and prosperity. The subject of today’s hearing—namely, a public-private partnership, created by the Terrorism Risk Insurance Act of 2002, to protect American workers, jobs, businesses and infrastructure from future terrorist attacks - is in my view critical to both the security and prosperity of our nation. … Continue Reading
February 27, 2007
DODD ADDRESSES CREDIT UNION NATIONAL ASSOCIATION GOVERNMENTAL AFFAIRS CONFERENCE
U.S. Senator Chris Dodd (D-CT), Chairman of the Banking, Housing, and Urban Affairs Committee, today addressed the Credit Union National Association (CUNA), highlighting and discussing the important role that credit unions can play in bringing access to credit to underserved communities, and the positive impact that has had in many communities throughout America. “Fundamentally, your customers seek a relationship that will provide them the tools to realize their dreams of a more secure, pros… Continue Reading
February 22, 2007
Statement of Senator Dodd on Hedge Fund Guidelines Issued by President’s Working Group
Statement of Senator Dodd on Hedge Fund Guidelines Issued by President’s Working Group "I commend Secretary Paulson's leadership in setting out a series of principles and guidelines for hedge funds. The report correctly identifies two vital public policy concerns - systemic risk and investor protection. I look forward to having the report’s authors come before the Committee to discuss the document in greater detail and to outline what, if any, steps they intend to take to ensure that these … Continue Reading
February 14, 2007
Opening Statement of Chairman Chris Dodd - Hearing on the Federal Reserve's Semi-Annual Monetary Policy Report
The Committee will come to order. This morning the Committee is pleased to welcome Federal Reserve Chairman Bernanke to deliver the Fed’s Semi-Annual Monetary Policy Report. I want to congratulate you for completing your first year as Chairman. Following in the footsteps of a very successful Chairman can be difficult - and is something that I can relate to. But I believe that you have done a very good job in gaining the respect and confidence of the markets and your colleagues on the Federal … Continue Reading
February 14, 2007
DODD CALLS REGULATORS’ RESPONSE TO PREDATORY LENDING “INADEQUATE”
Chairman Chris Dodd (D-CT) today expressed dissatisfaction with the response he received from federal regulators to a letter that he and other members of the Banking Committee sent in December. Sen. Dodd raised the issue directly with Federal Reserve Chairman Ben Bernanke during a hearing today. Sen. Dodd termed the response by Chairman Bernanke and fellow regulators to predatory lending “inadequate.” The letter urged the federal financial regulatory agencies to adopt the same guidelines that… Continue Reading
February 14, 2007
DODD URGES BERNANKE TO USE FED POWERS TO ACHIEVE GREATER SECURITY, OPPORTUNITY, PROSPERITY
Chairman Chris Dodd expressed concerns about the financial challenges facing Americans when he addressed the Chairman of the Federal Reserve, Ben Bernanke, at the Senate Banking, Housing, and Urban Affairs Committee hearing this morning. Chairman Dodd noted the persistence of economic struggles despite some positive U.S. economic developments, and urged Chairman Bernanke to use the Fed’s authority to help Americans achieve greater economic security, opportunity and prosperity. Senator Dodd c… Continue Reading
February 7, 2007
Opening Statement of Chairman Chris Dodd - Hearing on Preserving the American Dream: Predatory Lending Practices and Home Foreclosures
The Committee will please come to order. Today’s hearing is entitled Preserving the American Dream: Predatory Lending Practices and Home Foreclosures. This hearing is particularly timely in light of news that has been coming out in recent days about the wave of delinquencies and foreclosures facing American homeowners. Let me start by recognizing the work of Senators Allard, Bunning, Reed, and Schumer, who held joint subcommittee hearings last year to examine the impact of exotic mortgages… Continue Reading
February 7, 2007
DODD: CREATE, SUSTAIN, PRESERVE AND PROTECT THE AMERICAN DREAM OF HOME OWNERSHIP; STOP ABUSIVE PRACTICES IN THE HOUSING MARKET
Senator Chris Dodd (D-CT), Chairman of the Banking, Housing, and Urban Affairs Committee and a longtime advocate for affordable housing and home ownership, today convened a hearing on predatory lending practices in the mortgage market. At the hearing, entitled “Preserving the American Dream: Predatory Lending Practices and Home Foreclosures,” Dodd heard from two homeowners who were targets of abusive business practices. Delores King, who has owned her home in Chicago for 36 years, may lose h… Continue Reading
February 2, 2007
DODD: “WITH A LEVEL PLAYING FIELD, I BELIEVE THE AMERICAN WORKER AND THE AMERICAN ENTREPRENEURIAL SPIRIT CAN COMPETE WITH ANYONE IN THE WORLD.”
As part of his continuing months-long effort to ensure that American businesses and workers can compete successfully in the global marketplace, Chairman Dodd invited U.S. Secretary Henry Paulson to the Senate Committee on Banking, Housing and Urban Affairs discuss the Treasury Department’s practices and priorities. This was Sec. Paulson’s first testimony before Congress since he was sworn in last July. A longtime advocate for American job growth and retention, Senator Dodd emphasized: · … Continue Reading
February 1, 2007
Statement of Senator Dodd, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, on FDIC Decision On ILC’s
“I recognize and respect the FDIC’s decision to extend for one year the moratorium on applications for ILC ownership by commercial entities and proposing rules that seek to strengthen the application process for ILC ownership by financial companies. This moratorium will allow the Senate Banking Committee time to carefully examine this issue, which we will do in a thoughtful and deliberative manner.”… Continue Reading
January 31, 2007
Opening Statement of Chairman Chris Dodd - Hearing on Exchange Rate Policy with Treasury Secretary Henry Paulson
The Committee meets this morning to consider the Treasury Department’s Report on the International Economic and Exchange Rate Policy and the first meeting of the US-China Strategic Economic Dialogue. We are pleased to have our nation’s 74th Treasury Secretary Hank Paulson as our first witness. Mr. Secretary, welcome. In each of the past 5 years, this Committee, pursuant to statute, has received exchange rate reports and taken testimony from the Treasury Secretary. I want to take a moment to … Continue Reading
January 25, 2007
Opening Statement of Chairman Chris Dodd - Hearing to Examine the Billing, Marketing, and Disclosure Practices of the Credit Card Industry, and Their Impact on Consumers
Today is the first in a series of hearings on a subject matter that I believe is of critical importance -- credit cards. It is my hope that through these hearings this Committee, in a careful, thorough and open manner, will begin to examine both the positive and negative impacts that this important financial tool plays in the lives of millions of American consumers and our nation’s economy. It is my hope that this hearing entitled: Examining the Billing, Marketing, and Disclosure Practices … Continue Reading
January 25, 2007
Remarks of Sen. Christopher J. Dodd to the United States Conference of Mayors
Tonight’s dinner is being held to honor new leadership in the Congress. On that note, allow me to join in saluting our new Senate Majority Leader, Harry Reid, and our new Speaker of the House, Nancy Pelosi. They are off to an outstanding start as the new leaders of the Congress. This is my first address since being formally chosen as Chairman of the Committee on Banking, Housing, and Urban Affairs. I am pleased and honored to share my thoughts with you, the Mayors of America, and other… Continue Reading
January 23, 2007
DODD’S BANKING COMMITTEE: HELPING WORKING FAMILIES, PROMOTING ECONOMIC PROSPERITY
Washington, D.C. - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today held a press conference to discuss the recent market volatility and downturn in the American economy, as well as the priorities that the Banking Committee will focus on over the year ahead to help working families and businesses achieve economic security and prosperity. Below are his remarks as prepared: Good afternoon. Thank you for being here. I would like to speak… Continue Reading
January 19, 2007
Remarks of Sen. Christopher J. Dodd to the 10th Annual Operation PUSH Wall Street Economic Summit
It's an honor for me to be invited to speak you today at this, the 10th Anniversary of the Wall Street Economic Summit. Reverend Jackson, you should take enormous pride in the success of this event, and the growth of the Rainbow Push Wall Street Project. Your efforts over the years have helped millions more Americans achieve their dreams and aspirations. These are my first formal remarks since becoming Chairman-elect of the Senate Committee on Banking, Housing, and Urban Affairs. I'm proud a… Continue Reading
January 19, 2007
Senator Dodd Announces Banking Committee Will Conduct Hearing on Transit Security
Senator Chris Dodd, D-Conn., announced today that the first hearing he will convene as Chairman of the Senate Committee on Banking, Housing and Urban Affairs will examine the critically important need for greater transit security to protect Americans and our nation’s economy. Since the devastating attacks of 9/11, terrorists have attacked transit facilities in London, Madrid and Moscow. “Each and every work day millions of Americans step onto buses and trains and yet our nation still is not … Continue Reading
January 18, 2007
Opening Statement of Chairman Chris Dodd - Hearing to Examine the State of Transit Security
The Committee will please come to order. Thank you for being here for the inaugural meeting of the Committee on Banking, Housing, and Urban Affairs for the 110th Congress. I’m pleased to address the Committee as chairman. I must say that I was beginning to wonder if a day like this would ever arrive. I am probably one of the longest-serving first-time chairmen in Senate history. On the three major committees on which I sit, I have had the pleasure to serve behind Senators Kennedy and … Continue Reading
January 9, 2007
Remarks of Sen. Christopher J. Dodd to the 10th Annual Operation Push Wall Street Economic Summit
New York, NY - It's an honor for me to be invited to speak you today at this, the 10th Anniversary of the Wall Street Economic Summit. Reverend Jackson, you should take enormous pride in the success of this event, and the growth of the Rainbow Push Wall Street Project. Your efforts over the years have helped millions more Americans achieve their dreams and aspirations. These are my first formal remarks since becoming Chairman-elect of the Senate Committee on Banking, Housing, and Urban Affairs.… Continue Reading
