Corker: Senate can overcome impasse on financial reform

There's still hope for the Senate to craft a financial regulation reform bill that can win bipartisan support, Sen. Bob Corker (R-Tenn.) asserted Tuesday.

Corker, a freshman senator who's emerged as a key member of the Senate Banking Committee, predicted that senators would be able to craft a bill despite a breakdown in talks late last week.

"My guess is that and the end of the day, we're going to end up with a solid bill," Corker said during an appearance on CNBC. "And if we end up with a solid bill, I'm plan on supporting it."

The chairman of the Banking committee, Sen. Chris Dodd (D-Conn.), said that talks on the financial reform bill with the top Republican member, Sen. Richard Shelby (Ala.), largely over concerns over the proposed consumer financial protection agency.

Corker said, though, that he sensed there was still enough time for lawmakers to strike a deal on consumer protection and the bill as a whole.

"My sense is that there's enough room there for something reasonable to happen," he said of the Dodd-Shelby impasse. "Hopefully reason will rule the day, and we'll move forward with something that will stand the test of time."

"The Dodd-Shelby breakdown that occurred on Thursday night was disappointing," Corker added, though cautioning: "I think we still have some time. The mark-up for the bill probably will not occur until late February -- maybe early March, because of the snow."

---