Reform bill moves forward without Republican support

The Senate version of the financial industry reform bill moved forward in committee today without Republican support. The move delays debate on major changes to the legislation.

In addition to the more widely reported consumer protection measures, the bill would expand regulation of the trillion-dollar OTC derivatives market. Sens. Jack Reed (D-R.I.) and Judd Gregg (R-N.H.) have been working on a bi-partisan compromise on party differences.

Senate leaders have said they hope to vote on the measure by Memorial Day.

Financial overhaul legislation moves without GOP votes

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