Sen. Dodd proposes mortgage reform bill
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The chairman of the U.S. Senate Banking Committee unveiled legislation on Wednesday that would prohibit mortgage brokers and lenders from steering borrowers to high-cost loans.
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Senator Charles Schumer yesterday proposed two government-sponsored mortgage giants be allowed to increase their role in the home loan market as a stabilizing force for the troubled mortgage industry.
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Federal Reserve Chairman Ben Bernanke told Congress today that lawmakers should enact a fiscal stimulus package to help beleaguered consumers as recession fears grow. Economists and politicians are increasingly worried about fallout from the subprime mortgage meltdown.
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Ben S. Bernanke offered lawmakers fresh assurances today that regulators are taking steps to better protect would-be homeowners from abusive mortgage practices.
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Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday offered to refinance or modify up to $16 billion of adjustable-rate mortgages through the end of 2008 to help about 82,000 borrowers who face higher payments stay in their homes.
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The widening U.S. housing finance  crisis prompted calls in Congress on Thursday for new scrutiny  of bond insurers and credit raters, while Senate Democrats  offered a rescue plan for troubled homeowners.
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Sen. Christopher Dodd said Monday that he is gearing up for a possible run for president, announcing plans to travel the country, raise money and hire staff in an effort to garner support.
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Editor and Publisher - NEW YORK Sen. Christopher Dodd (D-Conn.) on Friday introduced a federal shield law that would provide an "absolute protection" for confidential sources. The legislation is in response to a slew of recent court actions demanding reporters reveal sources.
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Democrats in Congress are pushing to overhaul the nation's student loan system with legislation that would cut federal subsidies to lending companies by as much as $19 billion, channel most of those savings to student aid and ease repayment rules for borrowers.
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Democrat Chris Dodd said Wednesday he will make a three-day, three-state tour accompanied by officials of the International Association of Fire Fighters, hoping the popular firefighters will boost his underdog presidential candidacy.
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The Senate voted to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans
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Connecticut Sen. Chris Dodd is banking that voters in Iowa and New Hampshire, with their preference for vetting candidates in cafes instead of convention halls, will level the playing field among Democrats seeking the party's presidential nomination.
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The proposal by federal regulators comes as subprime mortgages have come under stress and scrutiny.
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Democratic Sen. Chris Dodd of Connecticut was set to abandon his bid for the Democratic presidential nomination Thursday after a poor showing in Iowa's precinct caucuses.
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The chairman of the Senate Banking Committee is working on a plan to set up a company to buy distressed home loans at currently discounted values and use the money to help fund new mortgages.
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Long-shot Democratic presidential  hopeful Sen. Christopher Dodd was expected to announce his  withdrawal from the White House race after a poor showing in  the Iowa caucuses, sources close to the senator said on  Thursday.
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Countrywide Financial Corp ,  the largest U.S. mortgage lender, on Tuesday offered to  refinance or restructure up to $16 billion of adjustable-rate  mortgages through the end of 2008.