Senate Banking Committee

Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing entitled “Building the New Derivatives Regulatory Framework: Oversight of Title VII of the Dodd-Frank Act.” 

The Committee heard testimony from regulators and market participants, and looked at the progress of the rulemaking required under the Dodd-Frank Act to improve the transparency and accountability of the U.S. derivatives market.

Chairman Gary Gensler

Good morning Chairman Johnson, Ranking Member Shelby and members of the Committee. I thank you for inviting me to today’s hearing on implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act. I am pleased to testify on behalf of the Commodity Futures Trading Commission (CFTC). I also thank my fellow Commissioners and CFTC staff for their hard work and commitment on implementing the legislation.

Senate Banking Committee chairman Chris Dodd (D-CT) made the following statement on the announced support for the Wall Street reform bill by Senators Olympia Snowe, Susan Collins, and Scott Brown.

Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement following House passage of the House-Senate Conference on the bill to bring accountability to Wall Street.

The bill ends too big to fail bailouts, creates a new consumer financial protection watchdog, sets up an early warning system to protect our economy from future threats, and brings transparency and accountability to exotic instruments such as derivatives.

Today, Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on the conclusion of the House-Senate Conference on the bill to bring accountability to Wall Street. The bill creates a new consumer financial protection watchdog, ends too big to fail bailouts, sets up an early warning system to predict and prevent the next crisis, and brings transparency and accountability to exotic instruments such as derivatives.

The Committee to Establish the National Institute of Finance was founded in 2009 by a group of private citizens with the aim of building a transaction data framework to provide financial regulators with the data and analytic tools to better monitor systemic risks impacting the financial system.

Today, Senate Banking Committee chairman Chris Dodd delivered the following statement at the House and Senate conference on the bill to bring accountability to Wall Street.

Below is his statement as prepared for delivery:

“Thank you Chairman Frank.

“And thank you to my fellow conferees for the tremendous work you have done over these many months as we try to tackle the tough questions of how to create a financial regulatory structure that will protect our economy for years to come.

Senate Banking Committee chairman Chris Dodd (D-CT) tonight hailed Senate passage of the bill to bring accountability to Wall Street.

“With passage of the Wall Street Reform bill we have taken a major step towards creating a sound economic foundation for the American people we represent. This is their victory.”

Senate Banking Committee chairman Chris Dodd (D-CT) tonight hailed Senate passage of the bill to bring accountability to Wall Street.

“With passage of the Wall Street Reform bill we have taken a major step towards creating a sound economic foundation for the American people we represent. This is their victory.”

 The U.S. Department of the Treasury today released the following statement from Treasury Secretary Tim Geithner on the Senate's passage of S.3127, the Restoring American Financial Stability Act of 2010: