Updated: 3:03 p.m.

Senate Majority Leader Harry Reid (D-Nev.) warned Members of a late night
Thursday as the chamber slogs through numerous amendments to the financial
reform bill.

“We’re going to work into the night,” Reid said Thursday morning. “We have
work that we need to do tomorrow, so everyone should be aware that we have a
lot of issues that we have to resolve on this most important legislation.”

Reid has said he wants to wrap up consideration of the Wall Street bill next
week. The chamber cast its first votes on amendments Wednesday, one week
after turning to the bill, and it was scheduled to move on a handful of
other provisions Thursday. Friday votes are also possible.

Majority Whip Dick Durbin (D-Ill.) reiterated Reid’s threat that the
Senate’s August recess could be delayed because of legislation that
must be addressed before adjourning for the summer campaign season. Durbin also told reporters that the chamber will likely work late nights to finish financial reform in order to get to a host of other priorities before the Memorial Day break.

“We have some things that to need to get done and we need to move forward on
this bill and I think there are going to be some late-night sessions,”
Durbin said. “I know that’s usually just a threat that’s thrown around here,
but we’ve reached a point where we have no choice.”

Durbin later acknowledged that Reid’s timeline to pass financial reform by the
end of next week may slip.