Financial reform inches forward

Lawmakers in Washington came closer to compromise on a new bill that would more tightly regulate the financial industry Sunday after extensive talks.

The talks come shortly before a Monday procedure vote to see if the bill can move forward, the New York Times said.

Several sticking points still exist including a future fund for bailouts and how creditors are treated when a company faces restructuring, Politico said.

Even with debating, a bipartisan bill is expected, thanks to broad public disapproval of the financial industry, said the New York Times.

"We don't have a bipartisan compromise yet, but I think there's a good chance we're going to get it," Minority Leader Mitch McConnell said.

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This page contains a single entry by egger153 published on April 25, 2010 5:14 PM.

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