The U.S. Senate Banking Committee’s chairman, Chris Dodd, said that he would present a financial reform bill next week, after efforts to produce a bipartisan compromise failed.

Dodd said that he will present his financial reform package on Monday.

“Over the last few months, Banking Committee members have worked together to try and produce a consensus package. Together we have made significant progress and resolved a many of the items, but a few outstanding issues remain,” he explained.

It remains to be seen what this means for the future of regulatory reform in the U.S. Dodd noted that the proposal will reflect some of the Republicans’ ideas, but that they could not agree about everything.

“It has always been my goal to produce a consensus package. And we have reached a point where bringing the bill to the full committee is the best course of action to achieve that end,” he said. “Our talks will continue, and it is still our hope to come to agreement on a strong bill all of the Senate can be proud to support very soon.”

In response, Senator Richard Shelby, ranking Republican on the Senate Banking Committee, said, “Republicans remain open to finding common ground with Chairman Dodd… As long as we remain focused on policy and not politics, an agreement is still very possible.”

IE