New Socialist Party is chartered in Auburn

October 2, 2017

By Brandon Moseley
Alabama Political Reporter

The Socialist Party of Eastern Alabama, a chapter of Socialist Party USA, announced that they were officially charted in Auburn on Friday.

The groups said that this is, “A collective effort to fight for equality against the rising tide of white supremacy we were seeing on campus at Auburn University.”

SPEA claims that they were, “Established by comrades from various walks of life – local activists, educators, students, engineers, artists, veterans and wage laborers – all interested in improving the lives of the disenfranchised, exploited and oppressed peoples of Alabama”

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Richard Shelby: Curing the Disease by Killing the Economy

December 11, 2015

By Ron Crumpton
Democratic Candidate for United States Senate

In a recent op-ed on Dodd-Frank by my opponent Senator Richard Shelby, he promotes the idea that intrusive regulations that were put in place in by a congress bent on politicizing the Wall Street crisis as means of placing arbitrary one size fits all regulations on small banks that had nothing to do with the crisis. He also suggests his newly proposed legislation would solve all the problems caused by the Dodd–Frank Wall Street Reform and Consumer Protection Act, but these claims are untrue.
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Federal Reserve Board Delays New Banking Rules for Five Months

October 29, 2012

By Brandon Moseley
Alabama Political Reporter

On Friday, the Federal Reserve Board announced that they were delaying the implementation of the second phase of its program to simplify the administration of reserve requirements for banking institutions.

In a written statement the Fed said that the delay will give it time for further development and testing of automated systems to ensure that there is a smooth transition for affected institutions.

The Federal Reserve Board issued their final new rule on April 4, 2012.  This amended its Regulation D to simplify the reserve administration program in two phases.  The first phase took effect on July 12, 2012. It discontinued as-of adjustments related to deposit report revisions and eliminated clearing balance requirements.
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Shelby Says Dodd-Frank Big Reason for Bad Economy

July 30, 2012

By Brandon Moseley
Alabama Political Reporter

U.S. Senator Richard Shelby (R) from Alabama issued a written statement after remarks he made on Thursday at a hearing on the Financial Stability Oversight Council’s Annual Report to Congress.  Sen. Shelby is the ranking Republican on the Committee on Banking, Housing and Urban Affairs.

Sen. Shelby said, ““In this year’s report, the Council describes a stagnating U.S. economy, with a mere 1.9 percent growth rate in the first quarter and a Federal deficit exceeding 7 percent of GDP. It also reports that U.S. households have seen only modest income growth, that access to mortgage credit is constrained, and that investment is restrained by “continued subdued confidence and elevated uncertainty.”
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Bachus Announces Hearing Focusing on Cost of Federal Regulations on Banking Industry

May 9, 2012

By Brandon Moseley
Alabama Political Reporter

Congressman Spencer Bachus (R) from Vestavia stated on Monday that the House Financial Institutions and Consumer Credit Subcommittee of the House Committee on Financial Services will be holding a hearing on the cost of new federal regulations on the banking and lending industries.

Representative Bachus said, “More than 400 new rules will be imposed on our economy because of the Dodd-Frank Act.  While some of them are necessary, many will serve only to stifle economic growth and employment. As regulators write the rules mandated by Dodd-Frank, we must make certain they do not harm the economy by drowning small business lenders in a sea of red tape.”  Rep. is the Chairman of the House Financial Services Committee.
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