SACRAMENTO – State Sen. Bill Dodd (D-Napa) has been named as chairman of the Senate Banking and Financial Institutions Committee by Senate President pro Tem Kevin de León.

Sen. Dodd assumed office representing California's Third Senate District – which includes all or portions of Napa, Sonoma, Solano, Yolo, Sacramento and Contra Costa counties – at the start of December.

Dodd previously served as the representative for the Fourth Assembly District, which includes Lake County. He has pledged to continue to help Lake County in his new role.

“It’s an honor and a privilege to chair the Committee on Banking and Financial Institutions. As chair, I will focus on building strong consumer protections, while ensuring the economic vitality of California,” said Sen. Dodd. “I would like to thank Sen. de León for appointing me to key committee assignments that represent crucial policy areas for our district and for our entire state."

Dodd's committee could help California serve as a counterpoint to inaction or rollbacks of consumer financial protections at the federal level.

Dodd already has shown leadership on banking and consumer protection issues, recently introducing a bill in response to the recent Wells Fargo fake account scandal.

His bill would help victims of fraud by eliminating the use of forced arbitration clauses in contracts that were fraudulently created. Such contracts prevent consumers from having their day in court to recover damages.

“It’s unacceptable for consumers to be blocked from our public courts to recover damages for fraud and identity theft. Allowing victims their day in court not only allows them to recover, it can prevent more victims by putting an end illegal business practices,” said Dodd. “With quick federal action on this issue unlikely, it’s critical that California lead the nation to prevent these abuses.”

The president pro tem of the Senate appoints senators to committees at the start of each two-year session.

Dodd also was appointed to serve as a member of the Senate committees on Agriculture, Veterans Affairs, Governmental Organization, and Business, Professions and Economic Development.