WASHINGTON // The Senate has passed a sweeping overhaul of how the US government regulates banks and Wall Street. The legislation is aimed at preventing a repeat of the financial meltdown two years ago that plunged the nation into a deep recession. The Senate passed the bill on a 59-39 vote, giving President Barack Obama a major policy victory. The bill now must be merged with a House of Representatives version. A key House negotiator predicts the bill will reach Obama's desk by July 4th. The massive legislation touches all points in the financial sectors, from Wall Street CEOs and first-time home buyers, to high-flying traders and small town lenders. The bill calls for new ways to watch for risks in the financial system. * AP
Senate passes massive Wall Street regulation bill
The Senate has passed a sweeping overhaul of how the US government regulates banks and Wall Street.
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