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Business Richard Shelby

  • WASHINGTON, Jan 25- The confirmation process for Republican President Donald Trump's choice to chair the U.S. Securities and Exchange Commission appears to be moving forward without any hiccups. Jay Clayton, a lawyer whose specialties include mergers and acquisitions, met privately with Senate Banking Committee Chairman Michael Crapo on Tuesday.

  • Securities and Exchange Commission Chair Mary Jo White on Monday defied requests by Senate Republicans to delay adopting new rules on everything from derivatives to mutual funds until after President-elect Donald Trump takes office. In a letter to the Senate Banking Committee's top two Republicans, Chairman Richard Shelby and Mike Crapo of Idaho, White...

  • In the letter to the Senate Banking Committee's top two Republicans, Chairman Richard Shelby and Mike Crapo of Idaho, White stressed it was "incumbent" on the independent regulator's canons of ethics to proceed finalizing rules. Those canons direct the SEC to "exhibit a spirit of firm independence" in performing its regulatory duties "without fear or favor."

  • *India looking to source more energy from nuclear sector. NEW DELHI, Sept 22- India is negotiating with U.S. Export-Import Bank for an $8- 9 billion loan to finance six Westinghouse Electric nuclear reactors, two sources familiar with the talks said, although a lending freeze at the trade agency threatens progress. The mega-project, the result of warming U.S.-...

  • Wells Fargo CEO John Stumpf speaks at the Bay Area Council Outlook Conference on May 17, 2016 in San Francisco, California.

    As the bank heads to Capitol Hill for testimony on a fake accounts scandal, Wells Fargo may have one thing going its way.

  • NEW YORK/ WASHINGTON, Sept 13- Wells Fargo& Co scrapped its product sales goals for retail bankers on Tuesday and may take further disciplinary action against its employees in the wake of a fake account scandal that has already led to $190 million in fines and the firing of 5,300 employees. Wells Fargo has been hit hard by allegations its staff opened more than 2...

  • NEW YORK/ WASHINGTON, Sept 13- Wells Fargo& Co scrapped its product sales goals for retail bankers on Tuesday and may take further disciplinary action against its employees in the wake of a fake account scandal that has already led to $190 million in fines and the firing of 5,300 employees. Wells Fargo has been hit hard by allegations its staff opened more than 2...

  • WASHINGTON, Sept 13- Wells Fargo's practices of putting customers into fake accounts, which last week led the U.S. government to fine it $190 million, took center stage in Congress on Tuesday with staff members for Republicans on the Senate Banking Committee set to meet with representatives of the bank. Torrie Matous, spokeswoman for the committee's chairman,...

  • WASHINGTON, Sept 13- Wells Fargo's practices of putting customers into fake accounts, which last week led the U.S. government to fine the bank $190 million, took center stage in Congress on Tuesday with staff members for the Senate Banking Committee set to meet with representatives of the bank. Torrie Matous, a spokeswoman for the committee's chairman, Richard...

  • The move comes days after the Consumer Financial Protection Bureau and two other regulators fined the bank $185 million over abusive sales practices. Customers should know that Wells Fargo retail bankers are always focused on their best interests, Chief Executive John Stumpf said in a statement on Tuesday. On Monday, five lawmakers wrote a letter to U.S....

  • Richard Cordray, director of the Consumer Financial Protection Bureau, said during an interview on CNBC that he does not see problems similar to those discovered at Wells Fargo occuring "on any kind of systematic basis at any other bank." The enforcement action caught the attention of U.S. presidential candidate Hillary Clinton, who on Friday applauded...

  • Senator Richard Shelby, a Republican from Alabama

    Senator Shelby defended his vote against a bill that would have allowed the Justice Department to block firearm sales to suspected terrorists.

  • Senate Majority Leader Mitch McConnell talks to reporters in Washington.

    Senate negotiators say they've reached an agreement on a six-year highway and transit bill subject to approval by rank-and-file lawmakers.

  • Sen. Shelby: 'We're Committing Financial Suicide'

    Sen. Richard Shelby, (R-AL), explains why he voted against the "fiscal cliff" bill, and weighs in on the need to "reform entitlement" programs.

  • WASHINGTON, Oct 5- Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states.

  • WASHINGTON, Oct 5- Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states.

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    The White House is struggling to fill key financial posts in the administration as a combination of Senate opposition and candidates’ reluctance to join up leaves critical positions empty. The FT reports.