Reg relief bill S. 2155 passes House; monumental win for credit unions – CUInsight

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The Senate is racing toward a final vote on S.2155, which includes several items that address the mortgage industry’s calls for regulatory relief, as well as other calls for relief from post-crisis dodd-frank act restrictions in adjacent financial-services businesses, like credit scoring.

Senate reg-relief package includes Important Credit Reporting Provisions January 11, 2018 by Tony Hadley The U.S. Senate Banking Committee passed a financial regulatory relief bill ( S. 2155 ) in December 2017 aimed at reducing regulatory burdens on community banks, credit unions and smaller regional banks.

Reg relief bill S. 2155 passes House; heads to president. May 22, 2018. S. 2155, a regulatory relief bill for community banks, passed the U.S. House of Representatives on Tuesday. With its passage through the Senate in March, it will now head to President Trump’s desk for his signature and.

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The bill passed the house, 233-186, largely on partisan lines. the bill has since died in the Senate. He also opposed a later version of the Financial CHOICE bill, which was S 2155, otherwise known as Economic Growth, Regulatory Relief, and Consumer Protection Act .

As reported here, members of the House said they will not automatically "rubber stamp" S 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, passed by the Sate, while senators are calling on the lower house not to make any changes if they wish to see the legislation pass this year. That has left House.

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A day after the Senate passed regulatory relief, top House Republicans vowed to have a big say in the final version before the bill heads to the White House. That raised fresh questions about how quickly the Dodd-Frank reforms will become law.

NAFCU remains active on Capitol Hill – meeting with Republican and Democratic members in the both the House and Senate – in an effort to pursue meaningful regulatory relief for credit unions. The House is preparing in the coming weeks to consider the NAFCU-backed Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).