Treasury Secretary Tim Geithner urged Congress to move quickly on the Obama administration's regulatory reform proposals, saying that past reform efforts started too late, after the will to act had subsided.

Geithner, in prepared testimony to the Senate Banking Committee, said the administration considered a full range of options and decided that now is the time to pursue the essential reforms, those that address the core causes of the current crisis; and that will help to prevent or contain future crises.

(Reporting by David Lawder; editing by Jeffrey Benkoe)