“The security of our economy is at stake. This is one of those moments in our nation’s history that compels us to be bold.”

November 19, 2009

This morning, Senate Banking Committee Chris Dodd (D-CT) delivered opening remarks as the Committee began debate on his Restoring American Financial Stability Act, a comprehensive bill to reform our financial system.

“Ninety colleagues here voted for the bill this spring. Why wouldn’t you join us today?”

November 18, 2009

Today, Senate Republicans blocked Banking Committee Chairman Chris Dodd’s (D-CT) attempt to pass legislation to stop credit card interest rate hikes.

November 17, 2009

Senators Chris Dodd (D-CT) and Joe Lieberman (ID-CT) today announced that they helped secure $64.6 million for military construction projects for Connecticut military bases throughout the state. The funding, which was allotted as a part of the Military Construction and Department of Veterans’ Affairs Appropriations bill, will go towards projects in Bridgeport, Middletown, and Hartford.

Mario Livieri Shares His Experience with Unfair Overdraft Fees At U.S. Senate Hearing

In testimony today at a U.S. Senate Banking Committee hearing, Branford resident Mario Livieri spoke out in support of Connecticut Senator Chris Dodd’s (D-CT) legislation to protect consumers from excessive overdraft fees. Livieri told the Committee his story of being hit with $140 in fees before he knew he had overdrawn his account earlier this year.

Fed Will Require Customers’ Permission Before Banks Can Charge Overdraft Fees

November 12, 2009

Senate Banking Committee Chairman Chris Dodd (D-CT) welcomed today’s release of a new Federal Reserve rule that will require banks to get a customer’s consent before enrolling them in an overdraft coverage program. Banks use these programs allow customers to overdraw their accounts without their knowledge, and then slap them with fees of upwards of $30 for this “courtesy.”

Dodd wrote the Federal Reserve in June calling on them to issue this “opt-in” requirement as soon as possible. Absent Fed action, Dodd included the requirement that customers are not able to overdraw their accounts unless they’ve given the bank permission to charge them overdraft fees in the more comprehensive FAIR Overdraft Coverage Act he introduced last month.

By Brooke Masters

Chris Dodd, the US senator, is taking on the Herculean task of trying to rationalise bank supervision in the US.

The Democrat yesterday proposed consolidating the four US agencies that inspect banks into a single regulator, ending decades of divided supervision. If the measure passes - which is by no means certain, as it will face opposition from small banks and existing regulators - it would lead to one of the most dramatic reshapings of US financial regulation in decades.

By Kevin Drawbaugh

Pushing for tougher changes in U.S. financial regulations, the Senate's top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.

Senator Christopher Dodd, who is fighting for his political life back home in Connecticut, unveiled a 1,136-page bill that leaps ahead of previous, more moderate financial reform proposals.

Bold Proposal to Create a Sound Economic Foundation to Grow Jobs, Protect Consumers, Rein in Wall Street, End Too Big to Fail, Prevent Another Financial Crisis

November 10, 2009

Today Senate Banking Committee Chairman Chris Dodd (D-CT) was joined by fellow committee members Jack Reed (D-RI), Charles E. Schumer (D-NY), Robert Menendez (D-NJ), Daniel K. Akaka (D-HI), Jon Tester (D-MT), Mark Warner (D-VA), Jeff Merkley (D-OR) and Michael Bennet (D-CO) to unveil a tough, bold bill to reform the way that our financial system is regulated.

November 6, 2009

Today, Senator Chris Dodd (D-CT) held an event at the home of Paul Mazurek, a first-time homebuyer from Wolcott who will benefit from the homebuyer’s tax credit. Dodd is the author of recently-passed legislation that extends the homebuyer’s tax credit and expands it to more middle-class families. Dodd was joined by Greg Ugalde, the Connecticut state representative and executive board member of the National Association of Home Builders.

November 5, 2009

The House of Representatives passed Senator Chris Dodd's legislation today to extend the homebuyer’s tax credit and provide 14 additional weeks of jobless benefits for Connecticut workers. Dodd's legislation unanimously passed the Senate last night as part of a bill that will also extend unemployment insurance. The legislation now heads to President Obama's desk for his signature.