Another Vote on Financial Reform Scheduled for Thursday in House

A month after canceling a vote on financial reform legislation, House leaders plan to try again Thursday.

Rules Committee Chairman Gerald Solomon said Friday that his committee would vote on the bill Wednesday, and that the legislation would come to the floor the next day. Proposed amendments must be submitted to the Rules Committee by Tuesday at 2 p.m.

Republican leaders on Friday had not announced whether consumer protection measures negotiated by Commerce Committee Chairman Tom Bliley and Rep. John Dingell, D-Mich., would be included.

Republican leaders are likely to oppose a plan offered by Rep. John LaFalce, D-N.Y., and Bruce Vento, D-Minn., that would give bank subsidiaries broad authority to underwrite securities. Their amendment is expected to be offered on the House floor.

The legislation would end barriers separating the banking, securities, and insurance businesses. Though hearings are expected in the Senate, the legislation is unlikely to be enacted this year.