Sens. Sasse, Jones Sign on to Bipartisan Regulatory Reform Bill

Senate Banking Committee members Ben Sasse (R-Neb.) and Doug Jones (D-Ala.) have signed on as co-sponsors of S. 2155, the bipartisan financial regulatory reform bill expected to receive a Senate vote in the coming weeks. Sasse and Jones bring the number of co-sponsors to 26 — 13 Republicans, 12 Democrats and one independent aligned with Democrats.

The result of a bipartisan compromise between Senate Banking Committee Chairman Mike Crapo (R-Idaho) and four Democrats on the committee — Jon Tester (D-Mont.), Heidi Heitkamp (D-N.D.), Mark Warner (D-Va.) and Joe Donnelly (D-Ind.) — S. 2155 includes several provisions that are part of the American Bankers Association’s Blueprint for Growth, including a Qualified Mortgage designation for mortgages held in portfolio, a substantial increase in the SIFI designation threshold and relief from stress tests and exam requirements for certain institutions. ABA has strongly supported the bill as it has moved through the Senate.