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Richard Shelby

  • WASHINGTON— Republican senators advanced legislation Thursday that would ease rules on smaller banks and other requirements of the landmark law reining in Wall Street and the financial industry after the 2008 crisis. But it received no support from Democrats, making its chances of Senate passage slim. Now tables have been turned by last November's...

  • WASHINGTON, May 21- The largest overhaul of U.S. financial industry reform since the 2008 crisis hit a roadblock on Thursday, as a regulation relief bill passed a Senate committee with zero Democrats in support. Wall Street dodged a tough provision as Republican Senator David Vitter withdrew his amendments, the most significant being a minimum 10 percent...

  • WASHINGTON, May 21- The Senate Banking Committee passed a bill on Thursday that proposes changes to the Federal Reserve and seeks regulatory relief for small to medium-sized banks, though with no Democrats on board, the legislation faces slim chances of success. With a majority on the committee, Republicans cleared the Financial Regulatory Improvement Act of...

  • WASHINGTON, May 21- The Republican-controlled U.S. Senate Banking Committee voted down efforts by the panel's Democrats on Thursday to narrow the scope of a financial regulatory reform bill that aims to give relief to smaller banks and financial firms. In a 12-10 vote, the committee declined to accept the Democrats' alternative proposal.

  • In its annual report to Congress, the Financial Stability Oversight Council said recent cyberattacks have heightened concerns about the potential of even more destructive attacks that could significantly disrupt the workings of the financial system. It is chaired by Treasury Secretary Jacob Lew and includes representatives from other government...

  • CEDAR FALLS, Iowa— Hillary Rodham Clinton sharply criticized Republican efforts to revamp a 2010 financial regulation law as "cynical attempt to game the system for those at the top." But she continued to avoid taking a position on an Asia-Pacific trade pact that has divided fellow Democrats. Financial disclosures released by the campaign last week showed that...

  • Senate Banking Committee chairman Richard Shelby of Alabama published long-awaited details of the Financial Regulatory Improvement Act of 2015, listing proposals that would lighten compliance burdens for small financial firms and enforce more transparency at the central bank and the financial stability council. But the committee's top Democrat,...

  • WASHINGTON, May 12- A draft Republican bill in the U.S. Senate takes aim at bank rules and insurance regulations, also limiting restrictions on mortgage requirements and proposes restructuring the Federal Reserve and other financial regulators. The 216- page, eight section report released on Tuesday was crafted by the staff of Senator Richard Shelby of...

  • May 12- Senate Banking Committee Chairman Richard Shelby plans to introduce a regulatory relief bill on Tuesday that would heighten congressional scrutiny of the Federal Reserve and revamp several rules faced by small banks, the Wall Street Journal reported citing Republican committee aides. The 216- page draft bill proposes to create a commission to...

  • WASHINGTON, May 6- The chairman of the Senate Banking Committee is pushing ahead with a bill to ease rules across sections of the financial industry after the first round of efforts to work with his Democratic counterpart failed. The bill could also seek to ease regulations on regional banks such as Comerica Inc and insurers such as Allstate Corp and curb the...

  • Fed's Tarullo wants to cut red tape for small banks Thursday, 30 Apr 2015 | 8:30 AM ET

    WASHINGTON, April 30- Rules for small U.S. banks should be less strict and less cumbersome than those for their larger and more risky peers, the Federal Reserve's top regulator said on Thursday. Small banks with $10 billion or less in assets could for instance be allowed to opt into simpler capital rules, Fed Governor Daniel Tarullo said in a speech to bankers.

  • WASHINGTON, March 13- As the Senate Banking committee pushes ahead with its agenda, one target emerging on both sides of the political aisle is the New York Federal Reserve Bank and its role in the financial industry. The New York Fed has come under increased pressure from lawmakers who say the bank is too cozy with Wall Street, a charge that gained attention from...

  • New York Fed in crosshairs of Senate Banking committee Friday, 13 Mar 2015 | 11:59 AM ET

    WASHINGTON, March 12- The Senate Banking Committee is zeroing in on the New York Federal Reserve Bank in its reform effort aimed at the U.S. central bank. The Alabama Republican has expressed interest in a plan by the outgoing Dallas Fed president that includes stripping the New York Fed of its permanent vote on policy and transferring Wall Street oversight from...

  • WASHINGTON, March 3- The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. This month, outgoing Dallas Fed President Richard Fisher said the Fed should revamp its rules to address perceptions of conflicts of...

  • WASHINGTON, March 3- The chairman of the U.S. Senate Banking Committee said on Tuesday that the Federal Reserve is not immune from congressional oversight. Senator Richard Shelby said at a Fed reform committee hearing on Tuesday that the panel will explore reforming the Fed system, as the Alabama Republican and other lawmakers add pressure to the U.S. central...

  • WASHINGTON, Feb 24- Tough questions aimed at Federal Reserve Chair Janet Yellen from a rising force in the Democratic Party on Tuesday showed how the U.S. central bank is facing increasing pressure from both sides of the political aisle. "I urge you... to assess whether the leadership of the Fed's staff is on the same page as the Federal Reserve Board," Senator...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the U.S. central bank has spoken about its plans for its first rate hike since 2006.. In prepared remarks to the Senate Banking Committee, Yellen...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting by meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the Fed has been speaking about its plans for the first interest rate increase since 2006.. In prepared remarks to the Senate Banking Committee...

  • WASHINGTON, Feb 23- The Senate Banking committee is expected to hold a hearing next week on reforms aimed at the Federal Reserve, a Senate aide said on Monday, as lawmakers push for more transparency at the U.S. central bank. The Senate aide said the timing could change at the last minute, but for now, it was set for March 3. The Republican takeover of the Senate this year...

  • US Senate to hold Fed reform hearing on March 3-aide Monday, 23 Feb 2015 | 2:36 PM ET

    WASHINGTON, Feb 23- The Senate Banking committee is expected to hold a hearing next week on reforms aimed at the Federal Reserve, a Senate aide said on Monday, as lawmakers push for more transparency at the U.S. central bank. The hearing will be scheduled for the afternoon of March 3, the aide said. The new chairman of the Republican-led Senate Banking, Housing and...