Consensus in Senate builds to weaken Federal Reserve by stripping it of bank oversightSeptember 21st, 2009 Senate bill could weaken the FedWASHINGTON — Consensus is building in the Senate for legislation that would significantly weaken the Federal Reserve by stripping its power to oversee banks and hand that job to a single federal bank regulator. The proposal by Senate Banking Committee Chairman Christopher Dodd to merge federal prudential oversight into a single regulator differs from a plan by President Barack Obama.
Senate banking chairman calls for legislation curbing overdraft feesSeptember 18th, 2009 Sen. Dodd calls to curb overdraft feesWASHINGTON — Sen. Christopher Dodd, chairman of the Banking Committee, said Thursday he wants to curb overdraft fees charged by banks, a move that would cut into a lucrative revenue stream for the financial industry.
AP source: Connecticut Sen. Dodd decides against replacing Kennedy as health panel chairmanSeptember 8th, 2009 AP source: Dodd rejects health panel chairmanshipWASHINGTON — Sen. Christopher Dodd has decided against succeeding his friend Edward Kennedy as chairman of the Senate panel focused on overhauling the nation's health care system, a Senate aide confirmed Tuesday.
Potential Senate leadership shake-up could complicate Obama plan for new Wall Street oversightSeptember 4th, 2009 Kennedy death could impact Wall Street oversightWASHINGTON — President Barack Obama's plan to recast how the government regulates Wall Street could be thrown a curve this fall if Sen. Tim Johnson, a Democrat whose home state is a major hub for credit card companies, takes over the chairmanship of the Senate's banking committee.
Sen. Chris Dodd praises Kennedy as hero to the nation's downtrodden, advocate for civil rightsAugust 26th, 2009 Dodd says Kennedy among most respected senatorsWASHINGTON — Sen. Christopher Dodd, perhaps Edward Kennedy's closest friend in the Senate, says Kennedy was a hero to the downtrodden.
AP Sources: Five-term Sen. Chris Dodd diagnosed with prostate cancerJuly 31st, 2009 AP Sources: Dodd has prostate cancerWASHINGTON — Officials tell The Associated Press that Democratic Sen. Christopher Dodd has been diagnosed with prostate cancer.
Treasury's Geithner says he welcomes debate on financial oversight reform, defends planJuly 24th, 2009 Geithner defends financial oversight reformWASHINGTON — Treasury Secretary Timothy Geithner said Friday that a new agency focused on protecting consumers is needed because the mission currently is too scattered among various regulators. This results in "finger-pointing in place of action," he told the House Financial Services Committee.
Dispute between Treasury, Fed on consumer protection oversight goes to Capitol Hill on FridayJuly 24th, 2009 Treasury, Fed dispute on display in CongressWASHINGTON — Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke are squaring off in a public dispute over who should become the nation's top consumer watchdog. Geithner wants to strip the Fed of its consumer protection duties and create a new federal agency designated solely to such a mission.
House Dems join Republicans in questioning Obama's plan to create consumer protection agencyJuly 8th, 2009 Democrats skeptical of consumer protection agencyWASHINGTON — President Barack Obama's plan to create a new government agency to protect consumers from risky mortgages and credit cards ran into resistance from several House Democrats on Wednesday. House lawmakers who oversee the Federal Trade Commission said they were concerned the proposal would weaken the FTC and suggested that the commission be given more resources instead.
Rep. Frank endorses plan for new consumer-protection agency, plans committee action in JulyJune 24th, 2009 Frank endorses consumer-protection agencyWASHINGTON — House Financial Services Chairman Barney Frank said Wednesday he supports the creation of a new government agency that would protect consumers from subprime mortgages and other high-risk financial products. The agency is a central component of President Barack Obama's broader plan to usher in a new era of regulations on banks and other financial institutions after lax oversight led to the worst economic crisis in decades.
Sen. Kennedy featured in new TV campaign commercial for Conn. Sen. Dodd's re-election bidJune 21st, 2009 Kennedy goes to bat for Dodd in campaign adWASHINGTON — Sen. Edward Kennedy is going to bat in a new TV campaign ad for longtime pal Sen.
Democrats' quick push of financial regulation overhaul worries some lawmakersJune 18th, 2009 Obama's plan for Fed worries some in CongressWASHINGTON — President Barack Obama's plan to transform the Federal Reserve into a super-regulator ran into skepticism Thursday from lawmakers who worry that the central bank is not the best suited to keep an eye on firms deemed so big and influential that their demise could hurt the economy. Democrats and Republicans voiced misgivings as Treasury Secretary Timothy Geithner began a marathon day of selling Obama's financial regulatory plan to give the Fed more authority, create a new consumer protection agency and bring unregulated sectors of the financial markets under government oversight.
Geithner defends plan to increase financial oversight, bolster powers of the FedJune 18th, 2009 Geithner defends plan to step up oversightWASHINGTON — Treasury Secretary Timothy Geithner says it is clear that the government could have done more to prevent the economic downfall. In prepared testimony, Geithner says that gaps and weaknesses in the regulatory framework governing banks and other financial institutions "presented challenges" to the government's ability to monitor and address risky market bets.
Leading GOP senator brand Attorney General Holder as too soft in fighting terroristsJune 17th, 2009 Senator: Attorney General Holder soft on terrorWASHINGTON — The senior Republican on the Senate Judiciary Committee says Attorney General Eric Holder is too soft on terrorism. At an oversight hearing Wednesday on the Justice Department, Sen.
Banking chairman Chris Dodd takes on lead role in health care overhaul from ailing KennedyJune 10th, 2009 Kennedy hands health care overhaul to DoddWASHINGTON — Sen. Chris Dodd is emerging as the face of a Senate plan to overhaul the nation's health care system in the absence of Congress' acknowledged expert on the subject, ailing Sen.
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