Republicans tone down opposition to regulatory revamp

04/21/2010 | Financial Times (tiered subscription model) · Reuters

Republicans have eased up on their opposition to legislation that would overhaul financial regulation as the bill is poised to reach the Senate floor soon. "We are all optimistic that this can be fixed," said Sen. Mitch McConnell, R-Ky. Sen. Richard Shelby of Alabama, senior Republican on the banking committee, met with the panel's Democratic chairman, Sen. Christopher Dodd of Connecticut, in an effort to reach an agreement. "We're making progress; I believe that we're going to get us a bipartisan bill," Mr. Shelby said before the meeting.

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Financial Times (tiered subscription model) · Reuters

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