Topic “J.P. Morgan Chase & Co.”

The decision by Senate Democrats to move ahead with financial overhaul legislation this week has prompted a last-ditch lobbying campaign by major banks and business groups, which fear the political winds have shifted against them amid widespread public anger over the excesses of Wall Street.

WASHINGTON—Senate Democrats, resisting a last-ditch lobbying push from big Wall Street firms, are moving toward a sweeping revamp of financial regulation that would squeeze banks' lucrative derivatives-trading business.