Financial Regulatory Forum

Talks resume in U.S. Senate on financial reform

WASHINGTON, Feb 11 (Reuters) – In an unusual move that cuts a senior Republican out of the loop, bipartisan U.S. Senate negotiations have resumed on financial regulation reform, the chairman of the Senate Banking Committee said on Thursday.

Committee chairman Christopher Dodd, a Democrat, said in a statement that he has begun talks on legislation with Bob Corker, a first-term Republican member of the panel handling a sweeping regulatory overhaul package.

Just six days ago, Dodd said he had hit an impasse with Senator Richard Shelby, the committee’s top Republican, in talks under way for more than a year.

The Obama administration has made tighter financial regulation a top priority for 2010. The U.S. House of Representatives approved a reform bill in December over the objections of Republicans and bank lobbyists.

“I am more optimistic than I have been in several weeks that we can develop a consensus bill to bring about the reforms the financial sector so desperately needs,” Dodd said in a statement on his dealings with Corker.

US Senate bill would let FDIC wind down big banks

Federal Deposit and Insurance Corporation (FDIC) Chairman Sheila Bair WASHINGTON, July 30 (Reuters) – Two U.S. senators introduced legislation on Thursday that would give the Federal Deposit Insurance Corp the power to wind down bank holding companies, calling it an interim step until Congress approves broad financial regulatory reforms.

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