Sen. Corker predicts ‘lots’ of Republican support for financial reform legislation

Sen. Bob Corker (R-Tenn.) said he expects “lots” of Republican support for a forthcoming financial reform bill.

Corker, a member of the Senate Banking Committee who joined with Chairman Chris Dodd (D-Conn.) and other committee Democrats to negotiate financial reform legislation, said a bill was coming soon, but wouldn’t say for sure whether it’d come next week.

“I think we’re going to get to a place soon on a bill that’s going to stand the test of time,” Corker said during an appearance on CNBC. “I think there’s going to be lots of Republicans who come on board.”

Talks had broken down earlier this month between Dodd and the top Republican member of the committee, Sen. Richard Shelby (R-Ala.). The breakdown in talks over the Senate around the creation of a standalone Consumer Financial Protection Agency.

Sen. Mark Warner (D-Va.), another member of the Banking committee who’s close to Corker, said that Wall Street shouldn’t have to worry about too stringent of an agency.

“I think the market will react favorably to what we’ve seen,” Warner said of the forthcoming bill.

Corker said he’d talked frequently with Shelby in recent days — including twice on Wednesday — and expressed optimism with the tone of those conversations.