- Associated Press - Tuesday, July 13, 2010

WASHINGTON (AP) — Conservative Democratic Sen. Ben Nelson of Nebraska says he will vote for the overhaul of banking regulations. His support ensures the legislation has 60 votes to clear the Senate.

Mr. Nelson had voiced concerns earlier, leaving the timing of the bill uncertain.

His support means 57 Democrats and three Republicans in the Senate are in line to vote for the sweeping legislation, thus overcoming a filibuster. Senate majority Leader Harry Reid said he wants to complete the bill this week.

The House already passed the bill. Senate approval would send the bill to President Obama for his signature.

The 2,300-page bill aims to address regulatory weaknesses blamed for the 2008 financial crisis that fueled the worst recession since the Great Depression.

 

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