September 28, 2007

Dodd Applauds Achievements of Congressional Black Caucus

Senate Banking Chairman pledges his continued commitment to unleashing economic potential of African Americans

As the Congressional Black Caucus Foundation’s 37th Annual Legislative Conference gets underway, Senator Chris Dodd (D-CT) today sent a letter to the Chairs of the Congressional Black Caucus (CBC) congratulating them on the conference and praised the CBC for their continued commitment to the creation of good public policy. Dodd, the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, outlined the work the Banking Committee has undertaken during his chairmanship to address the challenges facing the African American community, and vowed to work with the CBC in pursuit of the objectives set forth at the conference this week.
    “The theme of this year’s CBCF Annual Legislative Conference, ‘Unleashing Our Power,’ reflects an understanding of that political power and a commitment to using that influence, collectively, to address the challenges facing the African-American community and, indeed, our entire nation,” Dodd said in his letter. “As Chairman of the Senate Committee on Banking, Housing and Urban Affairs, I offer my unwavering support to the CBC in pursuit of these important objectives. I look forward to working with the membership of the CBC towards the goal of unleashing both the power and economic potential of African Americans across this country.”
The full text of the letter is below:
Dear Representatives Kilpatrick, Meek, Christensen, and Butterfield, Congratulations on convening the Congressional Black Caucus Foundation’s 37th Annual Legislative Conference. For 37 years, the CBC and CBCF, through the programs, forums and dialogue held during its Annual Legislative Conference, have helped fashion public policy and promoted the loftiest ideals consistent with the CBC’s role as the “Conscience of the Congress.” Over the 32 years that I have served as a member of the United States Congress, I have personally witnessed the growth of the CBC as an organization and an influence in our democratic process. That growth has led to this year’s event, which occurs at an unprecedented period in the history of the CBC. Never before has your organization been as large in terms of its membership and never before has its members wielded as much political might as they do in 110th Congress. Today, the CBC counts among its members the Majority Whip of the House of Representatives, my good friend Rep. James Clyburn, four chairpersons of congressional committees, seventeen chairs of sub-committees, and one member of the United States Senate. The theme of this year’s CBCF Annual Legislative Conference, “Unleashing Our Power,” reflects an understanding of that political power and a commitment to using that influence, collectively, to address the challenges facing the African-American community and, indeed, our entire nation. Those challenges include: creating jobs, growing wages and promoting economic opportunity and inclusionary practices; protecting homeowners from the threat of foreclosure brought about by the meltdown in the subprime mortgage market; assisting those displaced by Hurricane Katrina and rebuilding our Gulf Coast region and neighborhoods; expanding access to mainstream financial services and products while ensuring that consumers are safeguarded against fraudulent and abusive practices; stimulating investment in America’s underserved communities; and increasing diversity in the financial services industry. As Chairman of the Senate Committee on Banking, Housing and Urban Affairs, I offer my unwavering support to the CBC in pursuit of these important objectives. In fact, in the first few months of my chairmanship of the Committee we have already begun to closely examine many of these issues. The Committee has held a number of hearings and mark-ups focused on issues of importance to African-American families and communities, including predatory lending, abusive credit card practices, the affordability of insurance and the availability of housing within the Gulf Coast region, promoting financial literacy, examining the impact of private educational loan underwriting standards on minority borrowers, and ending unfair trade practices that threaten American jobs and wages. In the coming weeks and months the committee will also examine the humanitarian crisis in Darfur and the issue of diversity on Wall Street and within the corporate boardroom. In closing, let me once again congratulate the CBC and CBCF for what is certain to be another outstanding Annual Legislative Conference. I look forward to working with the membership of the CBC towards the goal of unleashing both the power and economic potential of African Americans across this country.