With it increasingly likely that a bipartisan reform bill in the Senate would not include an independent, powerful Consumer Financial Protection Agency, lawmakers are exploring alternatives.

Senate Banking Committee Chairman Chris Dodd and the panel's top Republican, Richard Shelby, though far from a deal, are considering creating a consumer-protection division within the federal banking agency envisioned by the legislation.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.