The Obama administration and Senate Democrats yesterday urged senators to come to an agreement on broad financial regulatory reform this week, while the most moderate Republican on the issue argued that negotiations should go on for at least another three or four weeks before a bill is considered on the Senate floor.

Speaking after a meeting with Treasury Secretary Timothy Geithner, Sen. Susan Collins, R-Maine, said she is confident that a bipartisan agreement can be reached. But she warned that if the massive regulatory reform package that cleared the Senate Banking Committee last month comes before the full Senate this week unchanged, with a $50 billion resolution fund for unwinding failing companies, it will be met with a “buzzsaw of opposition” from the GOP.

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