WASHINGTON — The Obama administration's 2011 budget offered few new details on how to build momentum for legislation that would rework the financial system, but predicted that regulatory reform would finally pass this year.

The budget document largely summed up the plan it released last summer, saying it wants to end "too big to fail" institutions and prevent future government bailouts. Despite persistent political opposition to granting the Federal Reserve Board any new powers, the budget reiterates plans to allow it to regulate large, interconnected firms deemed systemically significant. The budget also summarizes the administration’s proposal for consolidating existing consumer protection authorities under a consumer financial protection agency for banks and non banks to better protect consumers. 

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