The U.S. Senate has moved through a range of amendments to the financial regulatory overhaul. Those amendments address issues such as consumer protection, standards for underwriting and the role of the Federal Reserve. But now, after two weeks of work, Democrats want to limit debate and move the bill toward passage. Majority Leader Harry Reid, D-Nev., said Thursday's session was designed to serve as an update on progress and a discussion of what needs to get done before the recess.
Several additional amendments were scheduled for discussion Thursday, however no roll call votes were planned. In fact debate could continue through Wednesday of next week when Ag Chairman Blanche Lincoln, D-Ark., faces a tough primary in her home state of Arkansas.
Looking ahead - Banking Committee Chairman Christopher Dodd, D-Conn., is expected to move to scrap Senator Lincoln's proposal to require banks to shed most of their derivatives business.
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