FinReg Amendment Round-Up
Thursday, May 13, 2010 at 10:18 am
The Senate is back to amending Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal today. Here is a list of pending amendments that might come up for a vote, depending on time, and a list of amendments that received a vote yesterday.
Amendments that might get a vote today:
- Sen. Susan Collins’ (R-Maine) amendment to mandate minimum leverage and risk-based capital requirements for banks and other financial firms.
- Sen. Jeff Sessions’ (R-Ala.) amendment to provide an orderly and transparent bankruptcy process for financial firms.
- Sen. Arlen Specter’s (D-Pa.) amendment to allow private civil litigation against certain violators of Securities and Exchange Commission rules.
- Sen. Sam Brownback’s (R-Kans.) amendment to exclude automakers from the Consumer Financial Protection Agency’s oversight.
- Sens. Olympia Snowe (R-Maine) and Mark Pryor’s (D-Ark.) amendment to ensure small business fairness and regulatory transparency.
- Sen. Pat Leahy’s (D-Vt.) amendment to restore the application of the Federal antitrust laws to health insurance companies.
- Sen. Dick Durbin’s (D-Ill.) amendment to ensure that the fees that small businesses and other entities are charged for accepting debit cards are reasonable.
- Sen. Al Franken’s (D-Minn.) amendment to impose new regulations on credit rating agencies.
Amendments that got a vote yesterday:
- Sens. Jeff Merkley (D-Ore.) and Amy Klobuchar’s (D-Minn.) amendment ending liar loans and banning loan originators for making more money for selling riskier loans passed, 63-36.
- Sen. Bob Corker’s (R-Tenn.) amendment to study of the asset-backed securitization process and residential mortgage underwriting standards failed, 42-57.
- Sen. Kay Bailey Hutchison (R-Texas) and Klobuchar’s amendment to allow small banks and state-chartered banks to choose either the Federal Reserve or the Federal Deposit Insurance Co. as their regulator passed, 91-8.
- Sen. Saxby Chambliss’ (R-Ga.) amendment to implement regulatory oversight of the swap markets and to ensure that corporate end users are exempted from swaps laws failed, 39-59.
- Sen. Jack Reed (D-R.I.) and Sen. Scott Brown’s (R-Mass.) amendment to establish a specific consumer protection liaison for members of the armed forces and their families passed, 98-1.
- Snowe and Sen. Mary Landrieu’s (D-La.) amendment to exclude small businesses from certain Consumer Financial Protection Agency measures passed by voice vote.
- Landrieu’s amendment to exempt qualified residential mortgages from credit risk retention requirements passed by unanimous consent.
- Sen. Mike Crapo’s (R-Idaho) amendment improving credit risk retention provisions passed by unanimous consent.
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