Senate approves historic overhaul of financial regulation

The Senate has approved its version of new, far-reaching financial rules, aimed at repairing perceived regulatory failures that brought the economy to the brink of collapse two years ago and cost millions of Americans their jobs and savings.

The legislation, which now must be reconciled with the version passed by the U.S. House, passed by a vote of 59 to 39, with a few Republicans crossing the aisle to join the vast majority of Democratic senators in support of the bill.

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