Senate begins procedural vote on Wall St reform

WASHINGTON (BestGrowthStock) – The Senate began voting on Thursday on a key procedural test for the most sweeping overhaul of Wall Street regulation in decades.

If at least 60 votes are cast to close off further debate on the massive bill, it could then move on toward another vote on final passage, possibly later in the day.

The 2,300-page bill would slap tough new rules on the banking industry (Read more about the banking industry recovery.), set up a new government process for dismantling troubled financial firms, and create a government consumer watchdog to regulate mortgages and credit cards.

(Reporting by Andy Sullivan and Kevin Drawbaugh, Editing by Chizu Nomiyama)

Senate begins procedural vote on Wall St reform