The Senate banking committee voted along party lines Monday to transform the regulation of financial markets, sending another piece of far-reaching legislation to the full Senate a day after Congress approved an overhaul of the nation's health system.

After Republicans decided to save their objections for the Senate floor, Sen. Christopher J. Dodd (D-Conn.), the committee chairman, pushed forward with a financial-regulation bill that sheds several compromises reached with opposition lawmakers and instead hews more closely to the blueprint advocated by the Obama administration.

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