Sen. Brown to Offer Critical Support for Banking Overhaul Bill

Republican Sen. Scott Brown of Massachusetts says he will support a sweeping financial regulatory bill, moving the bill closer to the 60 votes it needs to ultimately win final approval.

Brown joins Sen. Susan Collins of Maine as two crucial Republican votes for the legislation.

Democratic leaders were still looking to secure the 60 votes needed to overcome procedural hurdles. They were awaiting word from Republican Sens. Olympia Snowe of Maine and Charles Grassley of Iowa, who supported an earlier Senate version.

Brown won concessions in the bill and said Monday that the legislation "is a better bill than it was when this whole process started."

However, Brown's agreement comes as Wisconsin Sen. Russ Feingold is expected to be the only Democrat voting against it.

The Journal Sentinel reported that he's the only member of the Senate opposing the bill because it's not progressive enough. He says the new rules for Wall Street are so timid that passing them would do more harm than good.

Feingold tells the newspaper the bill doesn't do the job and he's "not going to be part of basically defrauding the American people into thinking it does."