Breaking: Dodd Backs Fed Audit, Amendment Likely To Pass

Word is circulating through Capitol Hill right now that Sen. Chris Dodd (D-CT) has agreed to back a comprehensive audit of the Federal Reserve, paving the way for the almost certain passage of the measure. This is a major victory for serious Wall Street reform, and evidence of the mounting momentum to hold big banks and their regulators accountable.

Sen. Bernie Sanders (I-VT) authored both the original amendment and the compromise, and although details of the deal with Dodd are not yet clear, both Dodd and Sen. Chuck Grassley (R-IA) have endorsed the revised amendment.

More to follow.

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