Lawmakers Delay Vote
                   On Bank-Overhaul Package

                   Dow Jones Newswires

                   NEW YORK -- Lawmakers, who planned Wednesday to push a massive
                   financial services overhaul package to final passage this week, have
                   delayed that event, stirring up new uncertainty around the legislation that
                   appeared to be headed into law.

                                        "The report language on financial services
                                        modernization will not be filed on Wednesday,
                                        October 27th, and the prospects are unclear
                                        for Thursday, the 28th," said Christi Harlan,
                   spokeswoman for Senate Banking Chairman Phil Gramm (R., Texas).

                   Lawmakers had reportedly finished writing the 400-plus page document
                   and were collecting Wednesday afternoon the signatures necessary to take
                   the legislation for final votes on the House and Senate floors later this
                   week.

                   However, Mr. Gramm said he wasn't "pressuring counsels" to finish their
                   work on the legislation right away. He said that he wanted staff to resolve
                   as many kinks in the bill as they could now, rather than needing to pass a
                   huge technical amendment after the legislation is enacted.

                   However, some lobbyists and a few Capitol Hill aides indicated that there
                   could be a few snags holding up the legislation from final passage.

                   While the Treasury Department, White House and leading House and
                   Senate Democrats now support the legislation, a handful of House
                   Democrats have been trying all week to rally support to derail the bill.

                   Rep. Edward Markey (D., Mass.) along with Rep. Maxine Waters (D.,
                   Calif.) have been leading an effort to try to pressure the White House to
                   veto the legislation.

                   They've also teamed up with community and consumer groups that also
                   oppose the bill. "As the conference unfolded, the largest interest sat at the
                   table and sliced a huge piece out for themselves," Mr. Markey said
                   Tuesday, speaking of the banks, brokerage firms and insurance companies
                   that benefit from the bill. "Unfortunately, they left out the poor people and
                   the American consumers."

                   Mr. Markey and other House Democrats are protesting over consumer
                   privacy protections in the bill that they say are useless, having been
                   drastically watered down from previous versions of the legislation. Waters
                   is angry over changes made to the 1977 Community Reinvestment Act.

                   But their fight may be futile in the end.

                   Treasury Secretary Lawrence Summers and other top administration
                   officials were on Capitol Hill Wednesday morning meeting with House
                   Democrats, trying to sway them to support the legislation. Mr. Summers
                   called the legislation a "significant step forward for the American economy
                   and for American consumers."

                   It also has broad industry support as well as backing from a majority in
                   Congress and is expected to pass both chambers, with some dissension
                   among House Democrats.