Regulators will have a lot of leeway in implementing the financial reform legislation, which will saddle the banking industry will more uncertainty, Sen. Bob Corker (R-TN) told CNBC Friday.
"Much of this bill punted to regulators, so there’ll be an uncertainty for a period of time that no doubt will affect the banking industry," Corker said.
The bill, which has already passed the House, will be voted on by the Senate next week.
Corker said that the increased "activism" in Washington has also created more uncertainty in the economy.
"The activism that has taken place there creates that unpredictability," Corker said, which he described as "quite a problem."