U.S. Senate approves financial reform bill

The US Senate has approved a sweeping Wall Street reform bill, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s.

By a vote of 59 to 39, the Senate awarded a victory to Barack Obama. The president has been a champion of tighter rules for banks and capital markets after a 2007-2009 financial crisis forced massive taxpayer bailouts.

The Senate bill must now be merged with a measure approved in December by the House of Representatives. Only then can a final package go to Obama to be signed into law, something that analysts said may happen next month.

Source: cntv.cn