The Senate is hammering out the details of the most sweeping overhaul of financial regulation since the 1930s by pairing up Democrats and Republicans in closed-door negotiations. "It is the Senate's role to take a careful look and consider issues thoughtfully," said Scott Talbott, senior vice president of government affairs at The Financial Services Roundtable. "The Senate is taking a bipartisan approach." Some are concerned that the efforts will become too watered down, and congressional veterans say more dilution is likely.
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