A controversial administration proposal to clamp down on big banks likely won't dominate Senate negotiations on a new financial overhaul package.

Sen. Bob CorkerRobert (Bob) Phillips CorkerSenate approves .3 trillion spending bill, sending to Trump Senate bracing for possible long weekend Overnight Defense: Trump replaces McMaster with Bolton | .3T omnibus awaits Senate vote | Bill gives Pentagon flexibility on spending | State approves B arms sale to Saudis MORE (R-Tenn.) told The Hill that the effort to prohibit commercial banks from having proprietary trading businesses would not be the focus of talks on the Senate Banking Committee. Corker is in a new round of talks with Senate Banking Committee Chairman Chris Dodd (D-Conn.) to craft a bipartisan package of regulatory policies.

The "Volcker rule," was announced by the administration earlier this year and is named after Paul Volcker, the former Federal Reserve chairman and Obama administration adviser. The proposal is aimed at curbing banks from taking excessive risks.

"My guess is the Volcker rule as put forth probably will not be a major topic of discussion," Corker told The Hill on Thursday. Corker said the general aim of the proposal could receive some attention.