Sen. Richard Shelby said Wednesday that negotiations with Senate Banking Committee Chairman Chris Dodd over regulatory reform legislation had hit a wall. The panel's lead Republican said it was now up to his GOP colleagues whether to allow debate on the bill.

Republicans have so far united behind Shelby as he continued to hash out a bipartisan deal with Dodd, voting three times in as many days to block the Senate from beginning debate on the bill. Although Dodd had pledged to address remaining concerns on the floor, Shelby had said he wanted to work them out beforehand.

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