The House of Representatives on Wednesday night, June 30, passed the financial services reform bill in a 237 to 192 vote, largely along party lines. The Senate, however, has delayed its vote on the bill until Congress returns from recess on July 12.
After the House vote, Treasury Secretary Tim Geithner said in a statement that “this is a strong bill. It will provide essential protections for consumers and investors and help make sure the financial system meets the credit needs of Main Street America. With action by the Senate, we will be able to turn our attention to putting these protections in place.”
Senate Banking Committee Chairman Christopher Dodd (D-Connecticut) released a statement after the House vote in which he said he congratulated “the House on being the first to pass the Wall Street Reform and Consumer Protection Act.” Dodd said he is “anxious for the Senate to join them soon.”