Senator Dodd seen releasing draft financial bill Tuesday

WASHINGTON (Reuters) - Senator Christopher Dodd, the chairman of the Senate Banking Committee, was expected to release on Tuesday a long-awaited draft bill on financial regulation reform, said three lobbyists on Monday.

The bill is expected to propose consolidating bank supervision into one agency, to back the Obama administration's proposed financial consumer watchdog and to call for a wide range of other proposals.

One lobbyist said Dodd will hold a press conference at noon on Tuesday to unveil the bill. The lobbyists asked not to be identified because they are involved in debate about the bill.

(Reporting by Kevin Drawbaugh)