What happened to CITIZENS of the UNITED STATES?!!
Oct. 14 (Bloomberg) -- U.S. Senate Banking Committee Chairman Christopher Dodd said he will offer legislation to help consumers weather the credit crunch, including a 90-day foreclosure freeze and credit-card lending protections.
``These are areas where I think the American consumer can benefit,'' Dodd, a Connecticut Democrat, told reporters in Washington today after a meeting with Treasury Secretary Henry Paulson.
Dodd wants to include his proposals in economic-stimulus legislation he said may be taken up during a lame-duck session of Congress. He aims to build on the Treasury Department's plan to use $250 billion of taxpayer funds to purchase stakes in financial companies to shore up a banking system roiled by the biggest housing slump since the Great Depression.
The measure would also include provisions to curb predatory lending and allow bankruptcy judges to modify mortgages for struggling borrowers, Dodd said.
``It seems to me appropriate that we take steps to provide some relief for the consumer,'' given how much assistance the government is providing to companies, Dodd said.