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SenateBankingPanelApprovesShelbyReg

ReformBill
byVictoriaFinkle
MAY21,20151:04pmET

WASHINGTONTheSenateBankingCommittee
approvedabroadregulatoryreformbillThursdayon
partylines,withlawmakersonbothsidesoftheaisle
vowingtocontinuenegotiationsthissummer.
ChairmanRichardShelby,RAla.,andDemocrats
haveclashedinrecentweeksoveraGOPbillto
provideregulatoryreliefforsmallandregionalbanks,
alongwithchangestotheinsuranceindustry,the
FederalReserveandtheFinancialStabilityOversight
Council.Democratshaverepeatedlychargedthatthe
legislationgoestoofar,rollingbackkeypartsofthe
DoddFrankAct.Butcommitteemembersdidsignalthattheyplantocontinueworkingonabipartisan
compromiseincomingmonths,withthehopeofgettingabillsignedintolaw.
"Evenifwereportthisbillonapartisanvote,Idonotinanywayseethisastheendoftheroad,"
Shelbysaidatthemarkup."Infact,Ibelieveitpresentsanotheropportunitytoexploreareasof
potentialagreementbeforethisbillgoestotheSenatefloorwhichIfullyexpectthatitwill."
TheFinancialRegulatoryImprovementActpassed1210.
Democrats,meanwhile,offeredanarrowersubstitutebillthatwasdefeateddownpartylines,1012.

2015SourceMedia.Allrightsreserved.

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