The 2010 Congressional agenda
January 12, 2010 | federal legislation, industry | Comments (0)From today’s Politico:
The House has already moved its overhaul of the financial regulation regime, and Dodd’s announced retirement last week virtually ensures the Senate will follow suit, since Dodd views it as a legacy-making accomplishment, aides say.
Still, the road will be rocky because the Senate plan is expected to deviate significantly from that of the House.
Talks between Dodd and Alabama Sen. Richard Shelby, the top Republican on the Banking Committee, broke down in November. But last month the two returned to the bargaining table with a renewed commitment to pass a bipartisan bill.
The key sticking points are creation of a consumer financial protection agency, which is advocated by the White House and backed by the House, and how much regulatory power to give the Federal Reserve.
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