By Jessica Holzer
Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- U.S. House Financial Services Chairman Barney Frank (D., Mass.) on Friday took issue with Sen. Christopher Dodd's (D., Conn.) plan to create a single banking regulator.
Frank told reporters he could perhaps see the Federal Reserve losing some authority to a national banking supervisor, but said the Federal Deposit Insurance Corp. wouldn't lose power in any final plan approved by Congress.
Dodd, who heads the Senate Banking Panel, is expected to unveil legislation next week that will collapse the federal and state bank oversight systems into one sole regulatory body.
"I don't see any diminution in the size of the FDIC," Frank said after speaking at a conference in Washington.
-By Jessica Holzer, Dow Jones Newswires; 202-862-9228; jessica.holzer@dowjones.com