Washington (CNNMoney.com) - Wall Street is poised to score a victory in its efforts to beat back a crackdown on banks that trade the complex financial products known as derivatives.
On Tuesday, Senate Banking Committee Chairman Christopher Dodd, D-Conn., proposed a compromise change to the Wall Street reform bill that would water down a proposed ban on derivatives trading by many financial firms.
Sen. Blanche Lincoln, D-Ark., has been a driver of the push on the swaps ban. Her measure ranks among the top hangups threatening final passage of the overall reform bill.
Lincoln was in Arkansas on Tuesday facing a tough primary election. Her spokeswoman said she would fight to keep the ban.
"Sen. Lincoln is fully committed to her provision and will fight efforts to weaken it," said Lincoln spokeswoman Katie Laning Niebaum. "Her proposal has received bipartisan support and she will defend it on the Senate floor."