As bankers prepared to head to Capitol Hill for meetings with lawmakers this morning, Sen. Mark Warner (D-Va.), one of the Democratic co-sponsors of S. 2155, charged them to urge the House to pass the regulatory reform measure immediately in its original form, warning that “this bill will not pass if it comes back to the Senate.”
“We’ve stretched this legislation as far as it will go” in the Senate, Warner told Summit attendees, noting that the bill passed with 67 votes. A limited number of legislative days and a number of uncertainties that could quickly fill up the congressional calendar make it imperative for the House to act quickly, he added.
He also highlighted that S. 2155 was not just the result of compromise in the Senate, but also built upon bipartisan measures that originated in the House. “Even though the bill has an ‘S’ in front it, [it] includes 42 different bills that passed the House,” and hundreds of House members “have their fingerprints on it” in one way or another, Warner said.