Senators Close to Finance Rules Deal

BIPARTISANSHIP

Updated Apr. 25, 2017 10:39AM EDT / Published Mar. 01, 2010 3:45PM EST

Senators Chris Dodd (D-CT) and Bob Corker (R-TN) are near a deal to create a consumer-protection division within the Federal Reserve, a far cry from the president's request for an independent agency. The two senators did reach a deal that will empower the federal government to break up large, failing financial companies. Dodd has been one of the Fed's fiercest critics, and earlier suggested creating the consumer-protection agency within the Treasury Department, but Corker rejected that. Dodd could introduce the bill this week.

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Senators Close to Finance Rules Deal