Retreats

Lawmakers began an intensive push to pass the most sweeping revision of financial regulations since the Great Depression, but the Obama administration's proposed overhaul might undergo an overhaul itself along the way. The congressional committee chairmen handling the administration's 600-page proposal weighed in this week with significant changes as they try to meet Obama's deadline for action by the end of the year. On Wednesday, Treasury Secretary Timothy F. Geithner backed down on a key component that has stirred opposition -- a requirement that companies providing financial products offer a "plain vanilla" option, such as fixed-rate mortgages or no-frills credit cards.