Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today welcomed Fannie Mae’s decision to allow renters to remain in properties that have been foreclosed on by the mortgage company.  The decision comes just weeks after Dodd urged James Lockhart, the director of the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac, not to evict tenants who pay their rent on time but are living in foreclosed properties.  Dodd sent a letter to Lockhart after Connecticut residents tried to fight eviction by using a provision that Dodd wrote into the recently-enacted financial rescue law.

Bingaman Replaces Clinton, Joins Dodd, Harkin and Mikulski in Expanded Roles

Senator Edward M. Kennedy, Chairman of the Senate Committee on Health, Education, Labor and Pensions (HELP), today announced that Senator Jeff Bingaman will lead the committee’s health care reform working group on insurance coverage. Senator Bingaman replaces Senator Hillary Rodham Clinton, President-elect Barack Obama’s nominee for Secretary of State.

“I commend President-Elect Obama's nomination of Shaun Donovan to be Secretary of Housing and Urban Development.  I believe that Congress as well as the housing community will welcome this choice, and that Mr. Donovan's background prepares him to address the extremely difficult challenges our country faces in helping Americans find affordable housing.  I look forward to having Mr. Donovan before the Banking Committee at the earliest opportunity.”

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, held a conference call today with local Connecticut auto dealers, union officials and representatives from the Connecticut Automotive Retailers Association to discuss the ongoing efforts to stabilize the U.S auto industry and save the thousands of jobs in Connecticut that depend on it.

Senator Chris Dodd (D-CT), a senior member of the Senate Committee on Health, Education, Labor and Pensions, and Chairman of its Subcommittee on Children and Families, today issued the following statement on President-Elect Obama’s announcement of the nomination of former Senate Majority Leader Tom Daschle to be Secretary of Health and Human Services.  Daschle will also serve as Director of a new White House Office on Health Care Reform and Jeanne Lambrew will serve as its Deputy Director:

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement after finalizing legislation to stabilize the domestic automobile industry:

“This legislation will provide solutions to stabilize our domestic automobile industry so that our economy does not suffer a devastating blow and so that millions of American workers do not find themselves out of a job.  It also takes tough measures to restructure and reform this industry.  This bill is a far cry from a blank check to the industry.  Rather, these companies will be required to pay back every dollar they borrow from hard-working American taxpayers.  Furthermore, the legislation requires these companies to make painful, fundamental changes if they are going to be competitive internationally and viable in the long-term.  And if they fail to make tough choices and reforms, they immediately have to repay their loan or line of credit, and face the full consequences of their failures.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement after the Senate confirmed Neil M. Barofsky to be Special Inspector General for the Troubled Asset Relief Program.  The confirmation passed by unanimous consent last night.  Under Chairman Dodd’s leadership, the Banking Committee has been vigilant in its oversight of the Emergency Economic Stabilization Act, having held three hearings and coordinated frequent briefings since the passage of the law.

Senators Chris Dodd (D-CT) and Joe Lieberman (ID-CT) congratulated the Trumbull High School Golden Eagle Marching band on being chosen to represent the State of Connecticut in the 56^th Inaugural Parade in January. Trumbull High School was chosen from more than 1300 organizations who submitted application to participate in the parade.

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement on data from the Bureau of Labor Statistics indicating that more than 500,000 American jobs disappeared last month, pushing the unemployment rate to its highest level in 15 years:

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, welcomed new federal funding for Connecticut organizations that provide counseling and legal assistance to families facing the threat of foreclosure.  The grants, which were announced today by NeighborWorks America, will provide $681,230 to the Connecticut Housing Finance Authority and $202,536 to the Neighborhood Housing Services of New Haven.  Several national organizations with offices in Connecticut will also receive large grants.