Compromise Bill Could Block States on Bank Rules

Reaching a compromise on an issue that threatened to derail financial regulatory legislation, the House Financial Services Committee voted on Wednesday to give the federal government the power to block the states from regulating large national banks in some circumstances, The New York Times’s Stephen Labaton and David Stout report from Washington.The Obama administration had opposed any efforts by the federal government to preempt state officials from imposing higher banking standards. A group o