UPDATED, 10:01 a.m.--Senate Banking Chairman Christopher Dodd said today he will unveil legislation to revamp the nation's financial regulatory system without the support of Sen. Bob Corker, R-Tenn., with whom he had been working to strike a bipartisan deal.
"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," Dodd said in a statement.
Dodd said he intends to unveil the bill Monday and hold a markup during the week of March 22 to move the bill out of committee.
"I have been fortunate to have a strong partner in Senator Corker, and my new proposal will reflect his input and the good work done by many of our colleagues as well," Dodd added. "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."
Corker is scheduled to hold a news conference at 11 a.m. to give his version of the breakdown of the talks.