Dodd Decides To Pitch His Own Financial Regulation Bill

Senate Banking Committee Chairman Christopher Dodd plans to offer his own version of a financial regulation bill as bipartisan talks have failed to yield agreement on consumer protections and other sticking points.

In a statement Thursday morning, Dodd said that his talks with Republican Sen. Bob Corker of Tennessee produced areas of common ground but a "few outstanding issues remain."

The development raises new questions about one of President Barack Obama's top priorities. Congress and the administration have been trying to assemble legislation overhauling financial system regulation in hopes of preventing a recurrence of the economic crisis that hit the nation in the fall of 2008.

Dodd said that some of the issues that he and Corker did agree on will be incorporated into his proposed legislation.