Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Consideration Continues on Financial System Reform

Consideration Continues on Financial System Reform
Bipartisan working groups established to find compromises.

Senate Banking Committee Chairman Christopher Dodd, D-Conn., is reconsidering plans to create a stand-alone consumer agency in a bill to overhaul the regulatory structure of the U.S. financial system. Instead Dodd and Richard Shelby, the top Republican on the panel, are considering an expanded consumer financial protection division within an existing regulatory agency. The House and the Obama administration have pushed a stand-alone consumer agency as a central component of their proposals to overhaul the financial system.


Dodd wants to avoid the sort of partisan rancor surrounding the health care overhaul battle. So, he has created four bipartisan working groups of banking panel members to attempt to find compromises on key components of the bill. A separate proposal being considered would provide authority to wind down and disband failing firms that pose a risk to the broader economy. 

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.