Financial reform conference outlines schedule

The House-Senate conference working out the details on financial regulatory reform will focus on derivatives and the proposed consumer protection agency during its second week of meetings.

House Financial Services Committee and conference Chairman Barney Frank (D-Mass.) and Senate Banking Committee Chairman Chris Dodd (D-Conn.) will meet at 11 a.m. this morning, Wednesday and Thursday of this week, according to a release.

On Tuesday's agenda are credit rating agencies, private funds, insurance and the merger of the Office of Thrift Supervision and Office of the Comptroller of the Currency.

Investor protection, executive compensation and corporate governance and the proposed audit of the Federal Reserve Bank will lead Wednesday's meeting.

Conferees are expected to discuss systemic risk regulation, resolution authority and payment, clearing and settlement issues on Thursday.

During the second week of the conference, negotiations will include the proposed consumer protection agency and derivatives sections of the legislation — major issues that have created divides between Republicans and Democrats.

Other topics include predatory lending, interchange fees, prudential regulation and remittances.