U.S. ability to police 'shadow banking' under threat: senator

Reuters: Recent moves in the U.S. Congress and courts could defang the country's overarching financial regulatory council when it comes to policing "shadow banking," the most powerful Democrat on the Senate Banking Committee said on Monday.

Senator Sherrod Brown, who has been mentioned as a possible vice presidential pick, wrote to Treasury Secretary Jack Lew about possible threats to the council's regulatory reach in the area.

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