The Senate has set its first vote on financial services legislation for Monday, but enactment this session seems unlikely.
Compromises were reached this week on securities oversight and rules for insurance sales. But disputes remained on Community Reinvestment Act enforcement measures, powers for bank operating subsidiaries, limits on the sale of unitary thrift holding companies, and low-cost checking accounts for the needy.
What's more, the Clinton administration has pledged a veto, and Congress is supposed to adjourn Oct. 9.
Nonetheless, the vote, on a procedural motion to limit debate, will be "an important test" of support for financial modernization, said Banking Committee Chairman Alfonse M. D'Amato.