<br/>The United States Senate has given final approval to the biggest overhaul of the American financial regulation in more than 70 years. The reforms are intended to prevent a repeat of the financial crisis of 2008. <br/><br/>The Senate vote is a major victory for President Barack Obama and comes after months of political wrangling.<br/><br/>Speaking afterwards, Mr. Obama said the new regulation would give the strongest consumer protection in history. He said the American people would never again be asked to foot the bill for Wall Street's mistakes.<br/><br/>Senators approved the reform bill by 60 votes to 39. It was passed by the US House of Representatives earlier this month.<br/><br/>The reforms are designed to reduce the risks that banks take and to boost protection for consumers. They include new government powers to break up any company that becomes so big its failure could threaten the economy.