GOP poised to abandon stall of banking bill
WASHINGTON – Senate Republicans are prepared to end their stalling tactics on new banking regulations and will attempt to change the bill on the Senate floor, Republican officials said.
Sen. Richard Shelby, the top Republican on the Senate Banking committee, said he has assurances that Democrats will adjust his banking regulation bill to address concerns that it perpetuates bailouts.
The concession sets the stage for Republicans to withdraw objections that have stalled the bill in the Senate.
The agreement does not bridge other significant differences between the parties on the bill.
Democrats tried three times to begin debate on the bill only to be thwarted by Republican opposition. Democrats branded the Republicans as Wall Street allies.