Senate Banking Committee Chairman Chris Dodd (D-CT) said today that “while the current financial regulation reform before Congress may not create the single regulatory agency he favors, he sees the U.S. moving toward a consolidation of its financial oversight regime,” The Hill reports.
"I think most people agree today — this needs to be consolidated and simplified with a lot more clarity and accountability than we have today," Dodd said during an appearance on CNBC. "So we’re moving in that direction. Whether we’ll have a single regulator, I don’t know, but we’re moving in that direction."
He said that “while he won’t rush the financial overhauls favored by the Obama administration, he hopes for the Senate to finish a bill to complement the House’s proposals by the end of this year or early next year.”
"I know there are some who wish we would act more quickly, but my view is we have to get it right," Dodd said.
Congress in Your Pocket
