Richard Shelby (R-Ala.) has been named chairman of the Senate Committee on Banking, Housing and Urban Affairs for the 114th Congress. Shelby previously served as the chairman of the Banking Committee from 2003 until 2006. Shelby is likely to make rolling back provisions of the Dodd-Frank Act a core objective for his committee. He has also spoken in favor of altering the structure of the CFPB and decreasing the power held by its director. But Shelby has also shown a populist streak that could work against big banks. He has in the past leveled criticism against Wall Street firms for their role in the financial collapse and advocated greater punishment for reckless practices.