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With Republicans ceding the way for debate, legislation to impose sweeping new controls on financial institutions faces a test from both parties. Some Democrats seek tougher restrictions on banks; some Republicans aim to ease consumer protection provisions. Senate officials expect about two weeks of votes on amendments that could change the bill in substantial ways. The legislation, aimed at preventing a recurrence of the crisis that knocked the nation's financial system to its knees in 2008, advanced Wednesday when Republicans abandoned their blockade in the Senate. The House has already passed its version.While Democrats and Republicans agree the Senate will ultimately pass landmark changes how the debate unfolds will With Republicans ceding the way for debate, legislation to impose sweeping new controls on financial institutions faces a test from both parties. Some Democrats seek tougher restrictions on banks; some Republicans aim to ease consumer protection provisions. Senate officials expect about two weeks of votes on amendments that could change the bill in substantial ways.
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