Senator Vitter withdraws amendment on bank capital minimums

WASHINGTON (Reuters) - Two U.S. Republican members of the Senate Banking Committee withdrew controversial amendments on Thursday for consideration as part of a broader legislative package that would reform the Federal Reserve and provide regulatory relief to small banks. Louisiana Senator David Vitter withdrew a proposed amendment to the financial regulatory bill that aimed to end "too big to fail" by requiring certain mega banks to face new 10 percent capital levels. Pennsylvania's Pat Toomey withdrew another proposed change that would have repealed a major provision of the Dodd-Frank Wall Street reform law that permits U.S. regulators to carry out the "orderly liquidation" of large complex financial firms, and replaced it with reforms to the U.S. bankruptcy laws. (Reporting by Michael Flaherty and Sarah N. Lynch)