“A Relentless Fighter”
Obama praised Dodd’s leadership for the reforms, saying,
I want to give a special shout-out to Chris Dodd, who has been a relentless fighter to get this done. Chris wouldn’t give up until he got this legislation passed. He’s spent an entire career fighting against special interests and fighting for ordinary people, and this is just the latest example.
“Consumers Can Breathe A Sigh Of Relief”
Consumer Groups were ecstatic with the final result. Tom Swan, executive director of Connecticut Citizen Action Group, said that ―with so many families struggling to make ends meet, we and President Obama are fortunate to have a leader like Chris Dodd on this issue.
Pamela Banks, senior policy counsel with the Consumers Union, said,
It has taken 10 years to get to this point…I think consumers can breathe a sigh of relief.
Michael Calhoun, President of the Center for Responsible Lending, commended Senator Dodd and said, We applaud the [Banking] Committee for crafting safeguards for millions of American families at a time when our country is experiencing the worst downturn since the Great Depression.
Nick Bourke, the manager of the Pew Safe Credit Cards Project, said,
This is a tremendous victory for the millions of credit card carrying consumers.
“The Economy Depends On It”
News outlets across Connecticut recognized the importance of the legislation. The Hartford Courant wrote,
Help is on the way for credit cardholders who feel ambushed by hidden fees and rocketing interest rates
The Connecticut Post editorialized,
Preventing abuses at the first stage of the process is essential. Tightening restrictions on credit card issuers is a vital step … The economy depends on it.
The New London Day wrote
People want relief, and the credit card legislation goes a long way toward restoring fairness and accountability for those who pay with plastic.
“Dodd Should Be Commended”
Leading up to the bill’s passage, the same news organizations recognized Dodd’s leadership on the issue, writing,
He’ll deserve a lot of credit if he can bring the reforms home;
and ―Dodd should be commended for his long-running support.
The Hartford Courant added that Dodd ―deserves credit for being the chief sponsor of this legislation to curb the worst habits of lenders.
