Dodd to Release Draft 3/15, Markup to Follow 3/22
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When we posted The Weekly Crib Sheet at the start of the week we had two points for you: a) get read for trial balloons on finance reform legislation because we are getting close to a new draft from Senate Banking Cmte. Chmn. Christopher Dodd, and b) the earliest we thought you’d see a new draft from Chmn. Dodd was the end of this week.
Today Chmn. Dodd announced his new reform legislation draft will be released this coming Monday, March 15th with a markup to follow on March 22nd. We are posting his press release below for your information.
As a WHY YOU CARE proof in concept, when we said there would be trial balloons we meant things like THIS STORY regarding Senate Democrats pushing their own Volcker Rule legislation, and THIS STORY regarding Senate Ranking member Richard Shelby pushing yet another idea regarding the Consumer Financial Protection Agency proposal.
Chmn. Dodd’s press release from today:
Dodd Statement on Financial Reform
WASHINGTON – Today Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on financial reform.
“On Monday, I will present to my colleagues a substitute to the original financial reform package, unveiled last November.”
“Over the last few months, Banking Committee members have worked together to try and produce a consensus package. Together we have made significant progress and resolved a many of the items, but a few outstanding issues remain.”
“It has always been my goal to produce a consensus package. And we have reached a point where bringing the bill to the full committee is the best course of action to achieve that end. I plan to hold a full committee markup the week of March 22nd.”
“I have been fortunate to have a strong partner in Senator Corker, and my new proposal will reflect his input and the good work done by many of our colleagues as well.”
“Our talks will continue, and it is still our hope to come to agreement on a strong bill all of the Senate can be proud to support very soon.”
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