House Passes Wall St. Reform; Senate Delays Its Vote

The easy vote is over for financial reform: The sweeping measure that, among many other things, creates a consumer protection agency and puts limits on derivatives trading breezed through the House 237-192. But it won't reach President Obama's desk by July 4 as planned because the Senate has postponed its vote until after the holiday recess, reports the Washington Post.

Things have suddenly gotten dicey for Harry Reid. He and other Democrats had to scramble yesterday to find a compromise to appease Scott Brown and other centrist Republicans who objected to a $19 billion bank tax. That's done, but it's not clear whether Reid has all the GOP votes he needs, a matter complicated by the death of Democrat Robert Byrd. As of now, the Senate vote is expected the week of July 12.
(More financial reform stories.)