Senator Christopher Dodd of Connecticut

Democratic Senator Christopher Dodd of Connecticut. Senator Dodd's current term expires in 2011.

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Dodd Bill Would Freeze Credit Card Rates

Sen. Christopher Dodd (D-Conn.) has introduced a measure that would immediately freeze credit card interest rates, as Congress continues trying to rein in the financial services sector. Dodd, who heads the Senate Banking Committee, said credit card companies are using the delayed implementation of legislation passed earlier this year to jack up fees and interest rates. “We worked long and hard to enact the safeguards included in the Credit CARD Act,” said Dodd, who had introduced the bill in 2004, 2005 and 2008 before successfully passing it this spring. “And no sooner had it been signed into law, but credit card companies were looking ... Read Full Story

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Conn. Sen. Dodd hopes to highlight ties with Obama

From: www.ap.org

Down in the polls a year before the 2010 election, Connecticut Sen. Chris Dodd is hoping to tap into the statewide popularity of President Barack Obama. Besides raising money, Dodd's campaign manager hopes Friday's $1,000-a-plate fundraiser will highlight what he calls "a partnership" that's developed between Dodd and the Democratic president on issues ranging from health care to credit card reform. "It is early, perhaps, but this race is important to President Obama because Connecticut cannot afford to have a senator go down to Washington and fight his agenda every step of the way," said Jay Howser. Dodd has been struggling for months with ... Read Full Story

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Has Chris Dodd Done American Consumers A Favor By Co-authoring And Helping Pass The Card Act?

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Earlier this week the Senate Banking, Housing, and Urban Affairs committee passed the Dodd-Levin Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (CARD Act, S.414). This requires credit card companies to apply payments to the balance with the highest interest rate first, and it also prohibits interest rate hikes on a credit card based on information unrelated to that card. It takes effect in 2010. Has Chris Dodd done something good for the American consumer? http://www.levin.senate.gov/newsroom/rel… Related Entries Are Credit Card Companies Exploiting American Consumers? 1. In The 1920s Many American Consumers Began To Adopt The ? How Much Do American Consumers Spend ... Read Full Story

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Senator Dodd to offer overdraft fees legislation

From: www.reuters.com

WASHINGTON (Reuters) - The chairman of the U.S. Senate Banking Committee plans to introduce legislation on Monday aimed at limiting bank overdraft fees, said a Senate committee aide. Adding to a raft of banking regulation initiatives gaining headway in Congress, Democratic Senator Christopher Dodd will offer a bill he has been working on for weeks targeting what he has called "excessive, automatic overdraft fees." Last month he said the bill would require that bank customers "opt in" to overdraft protection programs, while banks would be barred from charging consumers overdraft fees without their consent. The Federal Reserve has been mulling new rules on overdraft ... Read Full Story

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Dodd says Wall Street compensation is outrageous

From: www.ap.org

Financial companies that were shored up by taxpayer money are now paying their employees bug bucks in compensation and benefits. The chairman of the Senate Banking, Housing and Urban Affairs Committee says that's a source of outrage in the country. One company that has received government money, Goldman Sachs, has said it has set aside $16.7 billion for compensation so far this year. That's more than a half-million dollars per employee. Democratic Sen. Chris Dodd of Connecticut says such companies need to understand that what they are doing is an outrage. Dodd says the government should look into taking action to get those companies ... Read Full Story

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Senator Christopher Dodd: U.N. facilitator

"Development that meets the needs of the present without compromising the ability of future generations to meet their own needs." The term and the definition are the creation of the 1987 World Commission on Environment and Development, chaired by Gro ...

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