Financial Reform | featured news

Top Democratic House and Senate negotiators who worked out a deal on a sweeping overhaul of financial regulations regrouped Tuesday to eliminate a $19 billion fee on banks that had threatened to derail the legislation.

Lawmakers were locked in an impasse over derivatives on Thursday as they struggled to finish their historic rewrite of U.S. financial regulations.

The Senate named 12 senators, including tough Wall Street critics and more moderate members, Tuesday to a panel that will finalize the most sweeping overhaul of financial regulations since the 1930s.

Three Republicans joined the Democratic majority on Thursday in an action that put Congress on a path to approve a broad expansion of oversight of the financial markets.

Senate Republicans voted Wednesday to delay final action on a sweeping financial regulation bill, raising an obstacle to the legislation as it approached the home stretch. The vote was 57-42, three votes shy of the 60 needed to pass. Three Democrats joined 39 Republicans in voting against the measure. Among them was Senate Majority Leader Harry Reid, who switched his vote from yes for procedural reasons. Reid said he'd seek a new vote Thursday.

The Senate this week could hand President Obama his second major legislative victory of the year, both on administration priorities that seemed in doubt not long ago.

President Obama pushed on Saturday for passage of a financial overhaul bill being debated on Capitol Hill, saying it would empower ...

Congress must act to close gaps in the regulatory system that helped cause the financial crisis, a former head of the Securities and Exchange Commission said....

The Senate's top Republican signaled Wednesday that a GOP filibuster of Wall Street reform legislation will end.

Senate Republicans, attacked for twice blocking legislation to rein in Wall Street, floated a partial alternative proposal Tuesday and said it could lead to election-year compromise on an issue that commands strong public support....