President Obama has said a sweeping overhaul of the rules governing the United States banking industry will make Wall Street more accountable to the American people. The banking reform bill was finalized by congressional negotiators after a marathon 20-hour debate. It's expected to be approved by both Houses of Congress next week and then signed into law by the president. Here is Paul Adams.

President Obama said he felt gratified by the results of last night's marathon session. The reforms would, he said, establish the toughest consumer financial protections in American history. A new consumer protection bureau will be responsible for governing the behaviour of credit card and mortgage companies.