Dodd to Offer New Finance-Overhaul Bill
By DAMIAN PALETTA
WSJ
WASHINGTON—Senate Banking Committee Chairman Christopher Dodd plans to introduce a new financial-overhaul bill next week, giving a boost to the White House's effort to toughen regulations governing the country's banks.
The House passed its version of new financial rules in December, but differences between Democrats and Republicans over what the rules should do have slowed progress in the Senate. The Dodd bill would, among other things, establish a council of regulators to monitor emerging risks to the economy, and a new banking regulator to oversee nationally chartered financial companies.
Last week, Mr. Dodd (D., Conn.) and Sen. Bob Corker (R., Tenn.) agreed to begin negotiating key parts of the proposal in hopes of securing a bipartisan deal. Messrs. Dodd and Corker are spending this week on a congressional trip to Central America, and they were unavailable for comment.
It was unclear whether Mr. Corker would support Mr. Dodd's bill. Democrats need some Republican support if they are to secure the 60 votes needed to avoid a Senate filibuster.
(Continued here.)
WSJ
WASHINGTON—Senate Banking Committee Chairman Christopher Dodd plans to introduce a new financial-overhaul bill next week, giving a boost to the White House's effort to toughen regulations governing the country's banks.
The House passed its version of new financial rules in December, but differences between Democrats and Republicans over what the rules should do have slowed progress in the Senate. The Dodd bill would, among other things, establish a council of regulators to monitor emerging risks to the economy, and a new banking regulator to oversee nationally chartered financial companies.
Last week, Mr. Dodd (D., Conn.) and Sen. Bob Corker (R., Tenn.) agreed to begin negotiating key parts of the proposal in hopes of securing a bipartisan deal. Messrs. Dodd and Corker are spending this week on a congressional trip to Central America, and they were unavailable for comment.
It was unclear whether Mr. Corker would support Mr. Dodd's bill. Democrats need some Republican support if they are to secure the 60 votes needed to avoid a Senate filibuster.
(Continued here.)
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