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

US financial regulation bill unveiled

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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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