Stacy Kaper

It was supposed to be the week the House Financial Services Committee passed a key part of regulatory reform and the Senate Banking Committee finally began moving forward on its ambitious overhaul plan. Instead, it was the week that regulatory reform took a significant step backward.

It was supposed to be the week the House Financial Services Committee passed a key part of regulatory reform and the Senate Banking Committee finally began moving forward on its ambitious overhaul plan. Instead, it was the week that regulatory reform took a significant step backward.

Senate Banking Committee Chairman Chris Dodd abruptly abandoned his plan to press ahead with a partisan vote on his regulatory reform bill next month after running into bipartisan opposition.

The House Financial Services Committee narrowly passed an amendment Wednesday that would raise the cost of funding for the largest financial institutions and cut them off from Federal Home Loan Bank advances.

WASHINGTON — House Financial Services Committee members continued to clash Tuesday over how to end government-funded bailouts of the financial system, with Republicans charging that Chairman Barney Frank's approach would indoctrinate such an approach while Democrats said it would force the liquidation of risky firms at the industry's expense.

Financial industry representatives are scrambling to find a strategy for responding to the massive regulatory reform bill the Senate Banking Committee aims to pass by early December.

Financial industry representatives are scrambling to find a strategy for responding to the massive regulatory reform bill the Senate Banking Committee aims to pass by early December.

A draft version of his bill introduced on Tuesday was so far-reaching it would pick a fight with virtually every entrenched interest involved in the debate, including community banks, large financial institutions, the Obama administration, House Democrats, the Federal Deposit Insurance Corp. and the Federal Reserve Board.

WASHINGTON — Senate Banking Committee Chairman Chris Dodd launched a tough opening salvo Tuesday in the regulatory reform debate, unveiling legislation that would go well beyond other plans to redraw the financial services regulatory map.

When the Gramm-Leach-Bliley Act was enacted in 1999, its architects promised the financial services world would be a lot different in a decade. They were right, but not in the way they intended.

Though former Sen. Phil Gramm staunchly defends the legacy of the Gramm-Leach-Bliley Act, he acknowledges he could have done more to prevent the crisis during his tenure as chairman of the Senate Banking Committee.

Senate Banking Committee Chairman Chris Dodd plans to unveil his draft regulatory reform legislation at a press conference today Tuesday, his office announced Monday.

The House Financial Services Committee approved amendments Friday to reduce the power a bill would give the Federal Reserve Board to monitor systemic risk and to remove conservatorship as an option when unwinding a systemically risky company.

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With Senate Banking Committee Chairman Chris Dodd's draft regulatory reform legislation to consolidate banking supervision expected to emerge soon, House Financial Services Committee Chairman Barney Frank suggested there might be some room to nudge his approach closer to the Senate's.

With Chris Dodd's draft regulatory reform legislation to consolidate banking supervision expected to emerge soon, House Financial Services Committee Chairman Barney Frank suggested there might be some room to nudge his approach closer to the Senate's.

WASHINGTON — When Senate Banking Committee Chairman Chris Dodd finally unveils his regulatory reform bill next week, the first gauge of pressure points in the Senate will emerge — and a flurry of deal-cutting will commence.

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The House overwhelmingly approved legislation, 331 to 92, on Wednesday to advance the enforcement of credit card reform to Dec. 1.

WASHINGTON — A House Financial Services Committee vote on a bill to create a systemic-risk regulator is likely to be a long, painful slog, given the myriad unresolved issues still outstanding.