Washington (CNNMoney.com) - Top senators on the banking panel released the details of a bipartisan deal on how to unwind big financial firms that are considered too big to fail.
Sen. Christopher Dodd, D-Conn., said he's finished making changes to an amendment to the Wall Street reform bill that concerned Republicans like Sen. Richard Shelby, R-Ala.
Dodd and Shelby reached an agreement in principle last week, and now the Senate will vote on this amendment later this afternoon.
Among the more significant changes, Democrats are officially dropping the tax on banks that would have funded a $50 billion pot of money that regulators could tap to help take down failing banks. Now the bill stipulates that banks will be taxed to pay unwinding banks after a collapse.
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