Action on Senate Financial Services Reform Blocked; Derivatives Measure Seen as Amendment

Senate Republicans, minus two of their own but joined by two Democratic senators, April 26 blocked efforts to vote on a financial reform measure (S. 3217) without extended debate.

Although the cloture motion failed on a 57-41 vote, the action was expected. The legislation—the Restoring American Financial Stability Act, championed by Senate Banking Committee Chairman Chris Dodd (D-Conn.)—is expected to clear the Senate soon, perhaps later in the week…

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