Washington (CNNMoney.com) – The Senate on Thursday afternoon passed the most sweeping set of changes to the financial regulatory system since the 1930s, sending the Wall Street reform bill to President Obama.
The Senate voted 60 to 39 to pass the reforms, ending more than a year-long effort to pass legislation in response to the 2008 financial crisis. Obama is expected to sign the bill into law next week.
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"We made a promise in the fall of '08 that we'd do everything in our power to see to it we'd never again put the American public in the position we were in September and early October 2008," said Sen. Christopher Dodd, D-Conn. "And we have fulfilled that promise with this legislation."
Earlier in the day lawmakers voted 60-38 to end debate on the legislation, with three Republicans joining Democrats to support it.