ABA today wrote to Congress to urge support of two recently introduced bills. S. 871, introduced by Sens. Dean Heller (R-Nev.), Shelley Moore Capito (R-W.Va.) and Rand Paul (R-Ky.), would establish a process for designating an area rural for purposes of Consumer Financial Protection Bureau exemptions. It is a companion to a bill that the House passed recently by a near-unanimous vote.
ABA also urged the House to pass the bipartisan H.R. 1334, which would correct a technical error by treating savings and loan holding companies the same as bank holding companies for purposes of registration and deregistration under the Exchange Act. ABA noted that this measure passed the House in the last Congress by an overwhelming vote.