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Richard Shelby

  • *Balance of influence between Washington, local interests. NEW YORK/ WASHINGTON, July 2- Efforts to fill top positions at some U.S. A bill passed in May by the Senate Banking Committee that Shelby chairs would strip the New York Fed's board of its power to appoint its presidents.

  • *Balance of influence between Washington, local interests. NEW YORK/ WASHINGTON, July 2- Efforts to fill top positions at some U.S. A bill passed in May by the Senate Banking Committee that Shelby chairs would strip the New York Fed's board of its power to appoint its presidents.

  • NEW YORK— The CEOs of government-backed mortgage giants Fannie Mae and Freddie Mac are getting large raises, to about $4 million a year, as the government relaxes rules that were imposed on the companies after they suffered big losses and were bailed out. In forms filed with the Securities and Exchange Commission on Wednesday, the companies disclosed that...

  • GOP measure would permit longer tandem trucks Thursday, 25 Jun 2015 | 2:33 PM ET

    WASHINGTON— Over the objections of safety advocates, the Senate Appropriations Committee on Thursday approved a trucking industry bid to allow longer tandem trucks on the nation's highways. But the bill faces a White House veto threat and a probable filibuster if GOP leaders try to bring it to the Senate floor. Richard Shelby, R- Ala. The committee chairman, Sen.

  • WASHINGTON, June 19- The U.S. government's appeals process for reviewing flood insurance claim disputes is riddled with flaws, but there is no evidence of systematic underpayments by insurers to flood victims, an investigation by U.S. Senate staffers has found. "Despite widespread concerns, it does not appear that systematic incentives exist for any...

  • WASHINGTON, June 4- Debate in the U.S. Congress over whether to shut down the U.S. Export-Import Bank is starting to creep into the Obama administration's push to deepen trade ties, highlighting contrasting views among both supporters and critics. Conservatives in the House of Representatives this week demanded Ex-Im effectively be allowed to lapse when its...

  • WASHINGTON, June 4- The chairman of the U.S. Senate Banking Committee will decide in a "week or so" whether to try to extend the Export-Import Bank's term, which runs out at the end of June. He said he had "deep reservations" about reauthorizing the bank, which provides support to U.S. exporters and buyers of U.S. goods such as Boeing Co planes, in its current form.

  • WASHINGTON, June 3- Democrats in the U.S. House of Representatives teamed up with their counterparts in the Senate on Wednesday to promote a banking regulatory relief bill they say is better than a broader version pushed by Republicans. House Financial Services Ranking Member Maxine Waters announced at a news conference that all of the Democrats on her panel...

  • WASHINGTON, June 2- The U.S. Senate might not consider reauthorizing the Export-Import Bank until July, risking a short-term shutdown of the export credit agency, a senior Republican said on Tuesday. The bank, which provides support to U.S. exporters and buyers of U.S. goods such as Boeing Co planes, will have to halt new lending on June 30 unless its term is renewed,...

  • WASHINGTON, June 2- U.S. Senate Banking. Conservatives in Congress want to let the U.S. export credit agency's mandate lapse when its current term expires on June 30. Guggenheim Securities analyst Chris Krueger raised the chance of a forced closure of Ex-Im Bank to 70 percent from 60 percent, although he said the bank could be revived later in the year.

  • 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.

  • 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...