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.

Speaking at a policy conference in Washington Friday, Frank reiterated his stance that he opposes a single regulator because he wants to maintain the dual banking system and let the Federal Deposit Insurance Corp. keep its supervision of most state-chartered banks.

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