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Released: February 26, 2010

Traction for banking regulation

Source: Sewell Chan, NY Times (Free Registration)

The prospect of a financial regulatory overhaul’s passing Congress brightened on Thursday, as representatives of the banking industry left a meeting with the Treasury secretary saying that they had agreed on the need to get a bill through Congress this year.

Members of the Senate Banking Committee, which has wrestled for months over the legislation, said they believed an accord might be possible, though significant differences remained over the extent of new consumer protections, among other matters.

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