Lawmakers have a lot on their plates, plus they're still smarting from earlier bailouts.
Clout of big financial firms remains a concern, senators tell the Treasury secretary, architect of Obama's regulatory overhaul.
The Federal Reserve would take on new responsibilities for monitoring risks, and a new agency would be created to enforce consumer safety in financial products.
Major elements of his proposal must be cleared by Congress – something he hopes to achieve this year.
The central bank says it will pull back when the US recovers, but the timing is tricky.
Next up for new regulation: The Obama administration plans to reform securities at heart of the economic crisis.