Senator Christopher Dodd is reportedly readying legislation that would strip the Fed and FDIC of...

|By:, SA News Editor

Senator Christopher Dodd is reportedly readying legislation that would strip the Fed and FDIC of almost all their bank-supervision powers, creating in their place a new agency in charge of supervising all banks and bank-holding companies. The suggestion is in stark contrast to approaches taken by the House and favored by the Obama administration, which have pushed to expand the Fed's powers.