The House Financial Services Committee yesterday approved the final two pieces of a package of legislation to reshape the financial regulatory system, paving the way for the full House to debate and vote on the measures as one omnibus bill next week.

The committee voted along party lines, 31 to 27, to pass the Financial Stability Improvement Act, which would allow for the orderly winding down of large, financially troubled non-bank financial institutions as well as create a multi-agency council to identify and monitor risky activities that could undermine the nation’s financial stability.

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