More details on Dodd’s strategy
January 16, 2010 | federal legislation, industry | Comments (0)From today’s Washington Post:
Senate banking committee Chairman Sen. Christopher J. Dodd (D-Conn.) has discussed jettisoning plans for a standalone Consumer Financial Protection Agency, as part of an effort to secure bipartisan support for legislation to reform financial regulation, said people familiar with the matter.
One possibility raised during recent talks between Dodd’s staff and Republican counterparts would be to assign new consumer protection powers to another agency. Such a compromise might offer an opportunity for Dodd to preserve the goal of expanding safeguards while appeasing Republicans who have chafed at any suggestion of a new agency.
“If there’s a bipartisan deal, that’s likely how it’s going to come out,” said one Democratic aide, who was not authorized to speak on the record about the discussions.
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