Senate Expected to Vote on S. 2155 This Week, Call Senators Now
March 12, 2018
Debate continues this week on S. 2155, the bipartisan financial regulatory reform package championed by Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Sens. Jon Tester (D-Mont.), Heidi Heitkamp (D-N.D.), Mark Warner (D-Va.) and Joe Donnelly (D-Ind.). The bill, which includes numerous provisions advocated by ABA as part of the association's Blueprint for Growth, is expected to receive its final Senate vote this week.
Meanwhile, the House is expected to vote this week on two bipartisan ABA-advocated measures. H.R. 1116 -- the Tailor Act -- is a long-standing priority of ABA and the state bankers associations and would require regulators to tailor their actions to meet the diverse characteristics of different banks. H.R. 4545 would establish deadlines for banking agencies to issue exam reports and create an independent examination review and appeal process. Both bills have been championed by Rep. Scott Tipton (R-Colo.).
The House Financial Services Committee will hold four subcommittee hearings this week, meeting on Wednesday to examine cryptocurrencies and ICO markets, on Thursday to discuss foreign investment in the U.S. and the use of stolen data after a breach and on Friday to oversee the Securities and Exchange Commission's Division of Enforcement. On Wednesday, the House Small Business Committee is expected to vote on H.R. 4743, an ABA-backed bill to reform the Small Business Administration's 7(a) loan program.
With S. 2155 on the verge of passing the Senate this week, ABA is urging bankers to make a continued push to get it across the finish line. As debate continues, opposition groups are increasing pressure on lawmakers to oppose it -- making it important for bankers to call their senators and express strong support for passing this commonsense regulatory bill. Call your senators now.