Obama hails deal on Wall Street bill

The president said he hoped to sign a final bill by the Fourth of July during a brief statement on the South Lawn before he boarded Marine One to embark on a trip to the G-20 summit in Toronto, Canada.

He said the legislation included the “toughest consumer financial protections” in the nation’s history and listed Wall Street reform as one of the significant accomplishments of his administration. 

“Over the last 17 months, we have passed a recovery act, health insurance reform, education reform and now, we are now on the brink of passing Wall Street reform,” he said. 

House and Senate negotiators reached a deal on the conference report just before dawn after a night of marathon negotiations. The House could take up the conference report as early as Tuesday and the Senate hopes to finish work by the end of the week.

Obama said in the end, he got “90 percent” of what he wanted from lawmakers. 

Obama also said that he would push for international cooperation on global financial issues pertaining to the legislation at the G-20 summit, a meeting of the leaders of the world’s largest economies.