By Kevin Drawbaugh
WASHINGTON, Jan 21 (Reuters) – The beat walked by a proposed super-cop for banks is shrinking in the latest financial regulation reforms being debated in the U.S. Senate, said sources familiar with committee negotiations on Thursday.
Senate Banking Committee Chairman Christopher Dodd has called for the formation of a Financial Institutions Regulatory Administration (FIRA) to replace a current patchwork system that includes four bank supervisors in Washington.
But Dodd and other lawmakers, seeking compromise on this and other issues, are revising the FIRA proposal, said sources who asked not to be named because negotiations continue.
