Huffpost Business

Chris Dodd's New Legislation Would Strip Power From Fed, FDIC

Posted: Updated:

WASHINGTON -- A key Senate lawmaker is readying legislation that would dramatically redraw how the financial system is regulated, setting the chamber on a collision course with both the House of Representatives and the Obama administration, which have championed markedly different approaches.

The bill, which is being readied by Senate Banking Committee Chairman Christopher Dodd (D., Conn.), would strip almost all bank-supervision powers from the Federal Reserve and Federal Deposit Insurance Corp., according to people familiar with the matter.

Read the whole story at

Around the Web

U.S. Senator Christopher J. Dodd | D-Connecticut

Contacting Senator Dodd | U.S. Senator Christopher J. Dodd

Corzine's Defeat: An Ominous Sign for Specter, Dodd

Dodd to unveil financial overhaul legislation

Senator Dodd Supports Tax Credit Extension