The person who will be the next in line chairman of the powerful Senate Banking Committee said that one should not expect any sweeping roll-back in the Dodd-Frank financial overhaul law. He is going to be from the Democrats and said that even if Republicans are able to win the elections

Sen. Tim Johnson (D., S. D.) during an interview said, "I think there will be minor changes in Dodd-Frank, but nothing more. no matter who's in the majority". It is almost certain that Tim is going to head the banking committee. He will be replacing Sen. Christopher Dodd (D., Conn.) who will retire by the end of this year.

Even before Tim has been appointed he has come out with his plans. But the biggest roadblock will come in his way if the Democrats lose the upcoming mid-term election in the Senate.

Meanwhile, there are rumors that changes will be made in the committee which is going to be the most sweeping transformation in US financial history. Tim is then expected to work as a top level negotiator with the Senate.