WASHINGTON -- A key House subcommittee voted Monday to maintain sizeable restrictions on commercial bank involvement in the securities industry, following a debate colored by recent bank and government securities scandals.

Working into the early evening, the House Energy and Commerce Committee's telecommunications and finance subcommittee approved by voice vote legislation that would repeal the 1933 Glass-Steagall Act. But panel members close to erect stringent firewalls that some detractors said would diminish any perceived benefits of the act's repeal.

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