Page last updated at 06:11 GMT, Tuesday, 16 March 2010

US financial regulation bill unveiled

Democrat senators have unveiled proposed new laws that will give the US Federal Reserve more regulatory powers over big US banks.

The new banking regulation bill suggests the establishment of a new consumer protection agency, with powers to regulate all lending.

However it is not clear if it will gain the support of Republicans.

Michelle Fleury reports from New York.


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