Two Senate Republicans may have effectively killed the far-reaching financial reform legislation for another year.

Sen. Phil Gramm of Texas and Sen. Richard C. Shelby of Alabama used procedural rules to stall the bill because they object to provisions expanding the Community Reinvestment Act. The heart of the historic legislative package-allowing banks, insurance companies, and securities firms to merge-has broad support.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.