Adding to the likelihood of final passage, Sen. Olympia Snowe (R-Maine) late yesterday said she would support the regulatory overhaul currently pending in the Senate.
Snowe, who successfully sponsored an amendment backed by credit unions to ease some of the statistical reporting requirements for credit unions and banks, said the bill will implement changes that will make another financial collapse less likely.
"While not perfect, the legislation takes necessary steps to implement meaningful regulatory reforms, create strong consumer protections, and restore confidence in the American financial system," she said in a statement.
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