166 Changes: Gearing Up for FinReg Amendment Process

This week, senators will start formally considering amendments to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill. Already, Sen. Barbara Boxer (D-Calif.) has introduced an amendment, mostly symbolic, to “prohibit taxpayers from ever having to bail out the financial sector.”

And there are dozens of other amendments proposed and under consideration — 166 changes to the text in all. (Follow this link, then click on each hyperlink to view proposed amended text.)

So what will the Senate be considering first?

(The formal debate of amendments may start today but could also kick off later this week, depending.) A popular proposal to provide a formal audit of the Federal Reserve by Sen. Bernie Sanders (I-Vt.) might be up as early as today, despite White House opposition to the proposal. Additionally, Senate Republicans are planning to propose further changes to the new Consumer Financial Protection Agency — one of the last sticking points in bringing the GOP around to supporting the bill and a major point of negotiation.