The Senate could vote again as early as today to attempt to begin consideration of a regulatory overhaul bill.
Lawmakers are trying to break a legislative logjam on the measure, which Republicans and some Democrats contend will allow for taxpayer bailouts of financial firms that are considered too big to fail. A proposal to begin debate was defeated yesterday, mostly along party lines.
The provisions of the measure most impacting credit unions, the creation of a new entity to regulate consumer financial products, have not been among the major sources of controversy.
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Senate Banking Committee Chairman Christopher Dodd and the panel's top Republican, Sen. Richard Shelby, and their staffs are continuing negotiations. Both sides have said they expect to eventually reach a deal. The committee approved a bill, along party lines, last month.
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