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Collins to drop opposition

From NBC's Kelly O'Donnell
Maine Republican Sen. Susan Collins tells NBC News she will drop her opposition and vote to let financial regulatory reform move forward. Collins' vote is not enough alone to break the impasse, but it's an important signal and start.

The GOP meeting is about to begin, so members can learn details of the agreement worked out by Sens. Dodd and Shelby

We do not know when the vote will be held or how other Republicans will vote. Democratic Sen. Ben Nelson had been a no as well.

If the motion passes, the financial reform bill jumps to the next phase for floor debate and amendments.