Dodd Visits Trinity, Talks Finances
Rebecca Brown
Issue date: 3/31/09 Section: News
Democratic Senator Chris Dodd of Connecticut kicked off his "Connecticut Banking on Change" campaign at the Smith House on Friday, March 20. Hoping to educate his constituents about the predatory practices sometimes used by credit card companies, Dodd indicated that he hoped new legislation would be passed at the state and federal level to help protect credit card holders.
Dodd has already introduced a bill to Congress called "The Credit Card Accountability Responsibility and Disclosure Act" that would lead to stricter oversight of the credit card industry as a whole. The legislation would particularly safeguard young adults by requiring credit card seekers under the age of 21 to use applications with a parent signature, demanding applicants to prove they have the means to pay off their bills or have completed a literacy competency course, and limiting pre-screened offers of credit to people under 21.
Calling practices used by such companies a "disgrace", Dodd, in his capacity as Chairman of the Senate Banking Committee, has overseen over 80 hearings on the ramifications of the economic crisis, including the credit card industry.
In addition to his work in the arenas of banking and finance, Dodd and has worked with Senator Joe Lieberman in dolling out more than $24.5 million in funding for energy efficiency and conservation projects from the American Recovery and Reinvestment Act.
Dodd claims that the funding will be used to help the state decrease their carbon footprint and boost energy efficient technology at the local level.
Also of note is Dodd's announcement on Tuesday, March 24 that Bradley International Airport will receive $8 million from the Transportation Department for repairs. The funding was given as part of the economic recovery package and will help recover the main runway. Given that Bradley is Connecticut's primary airport, and the second busiest in New England, it is hoped the funding will create jobs and limit congestion.
Up for re-election in November 2010 for his sixth term, Dodd has already kicked off an intense grassroots campaign headed by Jay Howser, who has led successful campaigns for other members of Congress. Though easily winning his last five elections, Dodd is under fire in both Connecticut and Washington D.C. for his role in the American International Group (AIG) bonus scandal and an ongoing investigation by a Senate ethics committee into whether or not the Senator used his role as Chairman of the Banking Committee to receive special privileges.
Dodd has already introduced a bill to Congress called "The Credit Card Accountability Responsibility and Disclosure Act" that would lead to stricter oversight of the credit card industry as a whole. The legislation would particularly safeguard young adults by requiring credit card seekers under the age of 21 to use applications with a parent signature, demanding applicants to prove they have the means to pay off their bills or have completed a literacy competency course, and limiting pre-screened offers of credit to people under 21.
Calling practices used by such companies a "disgrace", Dodd, in his capacity as Chairman of the Senate Banking Committee, has overseen over 80 hearings on the ramifications of the economic crisis, including the credit card industry.
In addition to his work in the arenas of banking and finance, Dodd and has worked with Senator Joe Lieberman in dolling out more than $24.5 million in funding for energy efficiency and conservation projects from the American Recovery and Reinvestment Act.
Dodd claims that the funding will be used to help the state decrease their carbon footprint and boost energy efficient technology at the local level.
Also of note is Dodd's announcement on Tuesday, March 24 that Bradley International Airport will receive $8 million from the Transportation Department for repairs. The funding was given as part of the economic recovery package and will help recover the main runway. Given that Bradley is Connecticut's primary airport, and the second busiest in New England, it is hoped the funding will create jobs and limit congestion.
Up for re-election in November 2010 for his sixth term, Dodd has already kicked off an intense grassroots campaign headed by Jay Howser, who has led successful campaigns for other members of Congress. Though easily winning his last five elections, Dodd is under fire in both Connecticut and Washington D.C. for his role in the American International Group (AIG) bonus scandal and an ongoing investigation by a Senate ethics committee into whether or not the Senator used his role as Chairman of the Banking Committee to receive special privileges.
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Robert Lockwood '60
posted 4/01/09 @ 1:04 PM EST
An excellent, balanced article. I commend the student audience for managing well the controversial issues, which could seriously undermine Dodd's 2010 race. (Continued…)
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