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Senate Democrats counter Republican’s bank regulation bill

By Michael Flaherty

Democrats on the Senate Banking Committee on Tuesday released their own version of a regulation relief bill, keeping the proposed changes focused on small banks and forcing the panel’s Republican chairman to try and hash out a deal in coming months.

The Democrats’ bill is a rebuke to Richard Shelby of Alabama, the committee chair who officially released his wide-ranging legislation on Monday after circulating a 216-page draft version last week.

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