Sen. Jack Reed lashed out Tuesday after media reports said that industry lobbyists are seeking the assistance of Republicans to kill proposed credit-rating agency reforms that are part of the regulatory reform bill.

The Rhode Island Democrat, who was an author of the reforms included in the bill by Banking Committee Chairman Chris Dodd, said they were essential to preventing the abuses that led to the financial crisis.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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