The story

Rep. Barney Frank, a high-ranking Democrat, said he is convinced that by Sunday, lawmakers will reach a deal on the proposed $700 billion bailout of the nation's financial system.

A Democratic source said it seems likely that the Senate might not vote on any bailout bill until Wednesday, though Sunday night is still a possibility.

The source said that when a plan is reached, Congress will not authorize a full $700 billion expenditure at once. Instead, it will be broken into a series of smaller transactions. The amount of the initial allotment continues to change, the source said. Read full article »

CNN's Kate Bolduan, Ed Henry, Deirdre Walsh and Lesa Jansen contributed to this report.

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