Sens. Dodd, Shelby agree "conceptually" on changes to reform bill

05/5/2010 | Bloomberg

Christopher Dodd, chairman of the Senate banking committee, said he came to an agreement with Sen. Richard Shelby, R-Ala., on changes to legislation to overhaul financial regulation that would prevent the rescue of financial firms. The senators plan to eliminate a measure for a $50 billion fund paid for by the industry to cover the expense of liquidating financial firms that get into trouble. "I'm satisfied, as I believe my colleague from Alabama is, that we've reached an agreement on the 'too big to fail' provisions," Dodd said.

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