Senate Republican's Bill Seeks To Trim Dodd-Frank

Law360, New York (September 23, 2011, 3:17 PM EDT) -- Sen. Richard Shelby, R-Ala., introduced legislation Friday that would put any new financial regulations through a more rigorous analysis, potentially putting the brakes on banking reforms that some of his fellow Republicans claim have hurt the economy.

Shelby, ranking member of the banking committee, said the Financial Regulatory Responsibility Act of 2011 would require regulators to conduct at least a 12-point economic analysis for any proposed rule and would bar agencies from implementing the rule if its economic costs outweighed its benefits.

The bill echoes calls...
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