Senate Approves Landmark Finance Reform Bill

Law360, New York (May 20, 2010, 2:43 PM EDT) -- The U.S. Senate voted 59-39 Thursday to approve sweeping financial regulatory reform legislation, ending weeks of debate on the bill, which contains a broad array of measures designed to correct the root causes of the most recent financial crisis.

Earlier Thursday, Democrats succeeded on their second attempt to limit debate on S. 3217, the Restoring American Financial Stability Act, reaching the 60-vote threshold on the cloture motion with no votes to spare.

The bill will now be sent to conference committee with the U.S. House of...
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