Senate Names Conferees for Financial Reform

May 27, 2010

The U.S. Senate this week named 12 Senators who will comprise half of a conference panel that will attempt to resolve the differences between separate financial reform packages passed by the U.S. House and the Senate. Democrats Christopher Dodd (Conn.), Tom Harkin (Iowa), Tim Johnson (S.D.), Patrick Leahy (Vt.), Blanche Lincoln (Ark.), Jack Reed (R.I.) and Charles Schumer (N.Y.), and Republicans Saxby Chambliss (Ga.), Bob Corker (Tenn.), Mike Crapo (Idaho), Judd Gregg (N.H.) and Richard Shelby (Ala.) were named by Senate leadership. Of the 12, only Republicans Shelby, Corker and Gregg and Democrat Johnson voted against the inclusion of language limiting swipe fees in the Senate bill. The conference committee will be chaired by House Financial Services Committee Chairman Barney Frank (D-Mass.). Congressional Democrats hope to have a compromise bill hammered out by the July 4th recess, according to published reports. The House has yet to name its conferees.