Senate Takes Key Procedural Step on Reg Reform Bill

The Senate today voted to open debate on S. 2155, the bipartisan regulatory reform bill championed by Senate Banking Committee Chairman Mike Crapo (R-Idaho) and four of his Democratic colleagues. The vote to open up debate on the bill — which currently has 12 Democratic co-sponsors and one independent who caucuses with Democrats — was 67-32.

“We welcome today’s strong bipartisan vote in the U.S. Senate to begin debate on S. 2155,” said American Bankers Association President and CEO Rob Nichols. “This common-sense legislation will right-size financial rules and allow financial institutions to better serve their customers and communities. We thank senators for their thoughtful review of the bill and its benefits and look forward to working with lawmakers from both parties in the days ahead to help advance this important legislation.”

All Republicans voting supported the bill, and four Democrats voted to open debate in addition to the co-sponsors: Sens. Maggie Hassan (N.H.), Bill Nelson (Fla.), Jeanne Shaheen (N.H.) and Debbie Stabenow (Mich.). The bill includes numerous provisions long advocated by ABA as part of its Blueprint for Growth.