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Senator Dodd To Propose Financial Reform Bill Today

By Brian Wolfman

As discussed in this Washington Post story, after weeks of trying to work out a bi-partisan compromise on a financial reform bill with Senator Corker of Tennessee, Senator Chris Dodd (D-CT) is going it alone. His bill would place a new consumer financial protection agency of some sort within the Federal Reserve. It would not be a stand-alone agency, as it is under the legislation passed by the House and as desired by consumer advocates and others who are not typcially viewed as consumer advocates. I have read elsewhere that, unlike the House bill, the Dodd bill will largely preempt state-law consumer protections that go beyond federal law.

Full post as published by CL&P Blog on March 15, 2010 (boomark / email).