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While the Senate’s time has been consumed by healthcare reform and has not made significant progress on financial regulation, Dugan said bankers should not be lulled into thinking a comprehensive reform package will not pass eventually.
“I would not be fooled by that,” he said.
The Obama administration is also planning to send new language to Congress that would give the government the power to dismantle large financial firms if they become insolvent.
Dugan said there will be “significant changes” to the administration’s original proposal.
