More scrutiny of President Obama’s proposed bank regulations coming this week. Not only will Paul Volcker, chairman of the White House Economic Recovery Advisory Board, be testifying tomorrow before the Senate Banking Committee, but another hearing featuring Wall Street executives has been scheduled for Thursday, the committee just More…
When Sen. Chris Dodd (D-Conn.), chairman of the Banking Committee, announced recently that he wouldn’t seek reelection this year, the move was strangely interpreted as a boost for Democratic proposals to rein in the finance industry — proposals that include the creation of a new consumer More…
Here’s the statement from Sen. Chris Dodd (D-Conn.), chairman of the Banking Committee, supporting the Obama administration’s proposal to apply a tax on the nation’s financial giants in order to repay taxpayers for the 2008 bailout.
Wall Street owes a great debt to the American public and we
Moments ago, Senate Republicans blocked a Democratic proposal to freeze credit card rates on existing balances through the holiday season. The bill, sponsored by Senate Banking Committee Chairman Chris Dodd (D-Conn.), would prevent credit card companies from hiking rates and fees on existing balances until the industry reforms More…
The Federal Reserve’s new opt-in requirement for overdraft protections is progress, according to Democratic finance leaders, but legislation providing further consumer protections is still needed.
“Giving customers the chance to choose whether they want ‘overdraft protection’ is important,” Senate Banking Committee Chairman Chris Dodd (D-Conn.) said in More…
Sen. Chris Dodd (D-Conn.) is set today to unveil legislation overhauling the way the banking industry is regulated. On certain points, the Dodd bill mirrors the wish list outlined by the Obama administration over the summer, including the creation of a new federal agency designed to protect consumers from the More…
Attempting to fix a problem that his panel helped create, Senate Banking Committee Chairman Chris Dodd (D-Conn.) will introduce legislation today to prevent credit card companies from hiking rates on existing balances. Although Congress passed sweeping credit card reforms earlier in the year — including a ban on More…
On Monday, it was Sen. Chris Dodd (D-Conn.) unveiling legislation to rein in overdraft fees. Today it’s Reps. Carolyn Maloney (D-N.Y.) and Barney Frank (D-Mass.) doing the same.
Both bills would require banks to get customer consent before enrolling them in the overdraft protection program; both would cap More…
Democrats on Capitol Hill were all cheers when they passed first-of-its-kind credit card reform earlier in the year — only to become publicly indignant when the card companies began hiking rates and fees in advance of those changes taking hold.
So after some Democrats More…
Enacted as part of February’s economic stimulus bill, the popular $8,000 tax credit for new homebuyers expires Nov. 30, prompting calls among some lawmakers to extend it for the sake of struggling consumers and a sputtering housing market.
Those calls gained some volume this morning in the Senate More…
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