Dodd, chairman of the Senate Banking Committee, first negotiated with committee member Richard Shelby, R-Ala., and then Bob Corker, R-Tenn., to put a bipartisan stamp on a bill that includes dozens of sticking points.
But Dodd said he would unveil a bill on Monday and present it to the banking committee a week later on March 22, despite reaching stalemates with both Shelby and Corker, The New York Times reported.
Corker said Dodd's decision to press ahead without more talks was "very disappointing."
He added, "I understand the pressure that he is under. I have enjoyed immensely working with Chairman Dodd and his team. I think his staff has negotiated with us in absolute good faith."
Dodd said, "Clearly we need to move along. What I'm facing mostly is what I call the 101st senator, and that is called the clock, and particularly, in an election year, that clock becomes a rather demanding member."