Dodd: Lawmakers have not reached agreement on financial revamp

03/5/2010 | Bloomberg Businessweek

Sen. Christopher Dodd, D-Conn., chairman of the Senate banking committee, said the panel's members have not agreed on a proposal for creating a consumer-protection unit at the Federal Reserve, or on a broader overhaul of financial regulation. Lawmakers also are considering derivatives regulation and the creation of a resolution authority for unwinding struggling systemically important financial institutions. "I've asked people to think about this, to mull it over, have staffs get back, give us their reaction to these things," Dodd said. "There is no agreement."

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