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House, Senate deal near on Wall Street bill

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US House and Senate negotiators broke through logjams as they worked in a packed hearing room to wrap up a sweeping overhaul of financial regulations in time to get it to President Barack Obama by July 4.

  

The legislation, an Obama priority, would be the biggest rewrite of Wall Street regulations since the Great Depression. It aims to prevent a recurrence of the 2008 financial meltdown that aggravated a national recession and pushed unemployment to 10 percent. (AP)

 

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