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House Democrats OK with open conference

The House Democratic leadership is supporting the idea of an open conference on financial regulatory reform legislation. 

"Democratic leaders have long been committed to an open conference that will result in strong Wall Street reform," said Nadeam Elshami, spokesman for Speaker Nancy Pelosi (D-Calif.), in a release Friday. "We hope that Republicans, who have opposed reform from the start, will work with us to protect America's middle class and stand up to big bank and corporate interests."

House Republicans are urging Democrats to agree to televise the House-Senate conference on C-SPAN. 

House Financial Services Committee Chairman Barney Frank (D-Mass.) also touted the need for a public conference after meeting at the White House with President Barack Obama, Treasury Secretary Timothy Geithner and economic adviser Lawrence Summers.

"It will be conducted, the formal parts, in public," he told reporters at the White House on Friday. "That means no agreements reached; no compromises, which obviously are being discussed, will be made a part of anything without being publicly presented and voted on and discussed."

Frank said he expects Obama to sign the bill by July 4.