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Page last updated at 22:35 GMT, Thursday, 20 May 2010 23:35 UK

Obama welcomes progress on Wall Street reform

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The US Senate has voted to end its debate on reforms of the Wall Street financial system, paving the way for a final vote on new legislation.

President Barack Obama has made the bill, described as the most sweeping overhaul of financial regulations since the 1930s, a domestic priority.

Mr Obama welcomed the senate vote and said reforms would mean "the American people never again have to foot the bill for Wall Street's mistakes".

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