We all know how this battle has played out in the past. Indeed, though the House easily passed a credit card reform bill in 2008 and again this year, Senate Democrats didn’t move their version anywhere last year, and it barely got out of the Banking Committee in March.
Things More…
It’s been partly necessitated by the fact that the lawmakers themselves delayed the effective date of their bill that would do the same thing.
That is, both Sens. Chris Dodd (D-Conn.) and Charles Schumer (D-N.Y.) are sponsors of legislation that would prevent the same retroactive rate hikes they’re More…
It’s all credit cards, all day long. And Sen. Charles Schumer (D-N.Y.), a member of the Senate Banking Committee went on MSNBC, this afternoon to reiterate his earlier call for the Federal Reserve to prevent credit card companies from hiking rates on existing balances — something Congress is now More…
We know that Senate Banking Committee Chairman Chris Dodd (D-Conn.), burned by voter anger over his coziness with Wall Street, received only $4,250 in donations from actual residents of his home state during the first three months of this year.
That’s not great news for the embattled Dodd, More…
So says a Quinnipiac University poll released Thursday, which found Sen. Chris Dodd (D-Conn.) trailing likely 2010 Republican contender Rob Simmons by 16 points, 50 to 34 percent — the worst margin in Dodd’s decades-long congressional career.
But what’s most interesting is how he’s doing with self-proclaimed members of More…
Congressional leaders from all walks are joining President Obama in berating AIG for doling out millions in bonuses after accepting $170 billion in federal help.
Senate Majority Leader Harry Reid (D-Nev.) took to the chamber floor today to decry the news as a “breach of public trust,” while Senate More…
Congress is finally getting around to asking a question it should have asked long ago, before doling out billions of dollars to troubled insurance giant AIG – Where, exactly, is that money going?
A Senate panel pressed the Federal Reserve on that very point Thursday. even threatening to cut off More…
After a day of haggling, a provision to limit bonuses to top executives of bailed-out banks was tucked into the stimulus last night. But for bankers who might be sweating this morning, don’t fret — there are plenty of loopholes. The yacht is safe.
Newly-minted Sen. Mark Udall (D-Col.), has scheduled a press call this afternoon to announce his plans to introduce legislation to end the abusive practices of credit card issuers. This isn’t enormous news — as a member of the House, Udall had strongly supported the lower chamber’s version of the More…
Democrats and many economists were none too happy last week when President-elect Barack Obama’s transition team announced plans to include $300 billion in tax cuts as part of its economic stimulus blueprint — and the number of critics just keeps growing.
In his column in The New York More…
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