Posted: 5/21/2010
Senate Passes Financial Services Regulatory Reform Bill
After failing to invoke cloture to proceed to a final vote on the bill earlier in the week, last night, by a vote of 59-39, the Senate approved the financial services regulatory reform legislation, S. 3217, the Restoring American Financial Stability Act of 2010. Four Republicans – Sens. Scott Brown, R-Mass., Charles Grassley, R-Iowa, Olympia Snowe, R-Maine, and Susan Collins, R-Maine – joined with 55 Democrats to pass the bill, while both Sens. Russ Feingold, D-Wis., and Maria Cantwell, D-Wash., voted against it for being too weak.