But can they trust them? Senate Republicans say Democrats have made important concessions on a Wall Street reform bill and the chamber agreed by unanimous consent Wednesday evening to proceed to debate on the legislation.

By Alexander Bolton at The Hill

Senate Republicans say Democrats have made important concessions on a Wall Street reform bill and the chamber agreed by unanimous consent Wednesday evening to proceed to debate on the legislation.

The bill was reported to the floor Wednesday night and debate is set to begin on Thursday.

Senate Republican Leader Mitch McConnell (Ky.) released a statement Wednesday afternoon touting “a key agreement” to resolve disagreements over a $50 billion fund to liquidate troubled banks.

As a result, there will not be any more votes on the Senate floor Wednesday and Democrats will not keep the chamber in session overnight.

McConnell said Democrats have agreed to close “loopholes” in the fund provision. McConnell and Republicans have criticized the provision, which they said could allow federal officials to draw on taxpayer dollars to wind down a troubled institution.

Democrats and the White House have insisted the fund would be paid for entirely by the industry.

FULL STORY

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