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Sen. Brown Critical Of Financial Overhaul Bill

Even though he received a sought-after compromise during negotiations, Sen. Scott Brown is criticizing the historic financial overhaul.

Democrats have counted on Brown to be one of the pivotal votes to approve the biggest changes to Wall Street since the Great Depression.

But the Massachusetts Republican says he's ultimately disappointed with the reconciled legislation.

"They stuck in a $19 billion tax, paid by the people who have checking accounts, ATM fees (and) credit card accounts," Brown said. "In the middle of a recession, to add another tax to pay for this when they once again could pay for this, it's troubling."

Brown got a compromise on the so-called "Volcker Rule," which sought to ban commercial banks from trading on their own accounts. Brown won a fight to allow banks limited investment in hedge funds and private equity funds.

The U.S. House and Senate are expected to vote on the compromise legislation by July 4.

This program aired on June 25, 2010. The audio for this program is not available.

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