House Appropriations Bill Includes ABA-Backed Financial Services Provisions

The House by a vote of 217 to 199 today passed H.R. 6147, a minibus appropriations bill which included a number of financial services provisions backed by the American Bankers Association. Among the bipartisan provisions supported by the association is one that calls for an independent examination review director to ensure consistency of bank examinations and an expedited appeals process for examination decisions.

Other ABA-backed provisions in the bill would bring greater transparency to the Consumer Financial Protection Bureau, authorize the Federal Reserve to make exemption determinations under the Volcker Rule for banking entities and make process improvements for banks subject to “living will submissions.” ABA also supported amendments included in the bill that would fund the Community Development Financial Institutions program.