Senate Vote Expected This Week on ABA-Backed Cyber Bill

The Senate is scheduled to vote this week on the Cybersecurity Information Sharing Act (S.754), an ABA-supported bill that would strengthen the ability of the public and private sectors to share critical cyber threat information without compromising customer privacy. Before voting on CISA, the Senate will consider several amendments that ABA and other trade groups told the Senate last week could undermine CISA’s principles. ABA will closely monitor developments on the Senate floor.

The House, meanwhile, is expected to vote this week on ABA-backed H.R. 1090, which would delay the Labor Department’s controversial rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act until the Securities and Exchange Commission takes similar action.

In other news, the Senate Banking Committee will hold a hearing on Wednesday on challenges facing rural bankers. Among the witnesses will be ABA member Roger Porch, VP for lending at First National Bank, Philip, S.D.