Christopher J Dodd

The chairman of the Senate Banking Committee introduced legislation to give borrowers more protection from high-cost and predatory mortgage loans. The bill sponsored by Sen. Christopher J. Dodd (D-Conn.) would give victims of mortgage fraud the right to sue lenders, brokers and investors for losses they incur for failed loans. The legislation would hold lenders responsible for flawed loans and appraisers responsible for improperly weighing the value of a property.

New Mexico Gov. Bill Richardson and Sens. Christopher J. Dodd (D-Conn.) and Joseph R. Biden Jr. (D-Del.) are the first presidential candidates to promise not to campaign in states that hold early nominating contests in violation of Democratic Party rules. They signed onto a pledge circulated by Democratic leaders of the four states that have the party's blessing to hold early contests -- Iowa, Nevada, New Hampshire and South Carolina.

Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.), who is fighting for his political survival, has proposed an immediate interest rate freeze on existing balances for the estimated 700 million credit cards in circulation. The proposal is unlikely to go anywhere in the Senate, where business-minded Democrats would join Republicans in opposing the measure.

The Federal Reserve Board reaffirmed its support for limiting the time that banks can hold money after a check has been deposited in a customer's account. Wayne D. Angell, a Fed governor, told the Senate Banking Committee's subcommittee on consumer affairs that legislation introduced by Sen. Christopher J. Dodd (D-Conn.), provides the "needed authority for the Federal Reserve to improve the check system. . . . We think we can live with four business days."

Reform plan Highlights of Sen. Christopher J. Dodd's financial regulatory overhaul proposal: Creates an autonomous consumer protection bureau within the Federal Reserve Grants the government power to seize and dismantle large firms if they're near collapse Establishes a council of regulators to monitor the economy for signs of major risks Adds new regulations for hedge funds and derivatives markets ...

Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.) said he would introduce a plan today to overhaul mortgage-lending practices blamed for fueling record foreclosures and undermining confidence in credit markets. Dodd's measure would direct lenders to ensure that sub-prime borrowers were offered loans they could repay and weren't subject to prepayment penalties.

The Senate voted today to strip Romania of its coveted Most Favored Nation trading status with the United States for six months as punishment for its history of human rights abuses. Senators voted 57-36 in favor of an amendment by Sens. William L. Armstrong (R-Colo.), Christopher J. Dodd (D-Conn.) and others to deny Romania the favored trading status as the Senate began its second day of perhaps several weeks of debate on the politically charged omnibus trade bill.

Gary Franks, the former Republican congressman from Waterbury, Conn., who lost his seat in 1996, is attempting to stage a comeback into politics by challenging Democratic Sen. Christopher J. Dodd. But Franks, who will formally launch his bid today, faces long odds in trying to unseat the veteran Dodd.