Dodd Financial-Reform Bill Earns Praise From GOP—But Not Votes

Senate Banking Committee Chairman Christopher Dodd’s draft bill for sweeping financial reform will consolidate banking regulators, as well as create a systemic risk council and a new consumer watchdog agency within the Federal Reserve, according to a source familiar with the contents of the legislation scheduled to be unveiled Monday.

US  Sens. Christopher J. Dodd (right) and Bob Corker.
Orlando Sierra | AFP | Getty Images
US Sens. Christopher J. Dodd (right) and Bob Corker.

Senator Bob Corker (R-Tenn.) who’s been working with Dodd on a bipartisan bill for more than a month, told CNBC.com Sunday evening that he expected Dodd to “introduce a bill that will be to the left of where we were — close, but left.”

Corker called Dodd’s draft “a much better bill” than the one the Connecticut Democrat offered in November, but added “he knows that will be a bill I cannot support.”

“Hopefully we can offer some amendments in committee and get it back into the middle,” he said.

Continue Reading at CNBC

By: Albert Bozzo Senior Features Editor

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