WASHINGTON (7/22/15 UPDATED 12:00 p.m. ET)--The U.S Senate appropriations subcommittee passed the Financial Services and General Government Appropriations Act for 2016 this morning, which contains Sen. Richard Shelby’s (R-Ala.) regulatory relief bill. Shelby’s bill, the Financial Regulatory Improvement Act of 2015, passed the Senate Banking Committee in May.
Shelby’s bill passed the committee with a 12-10 vote along party lines, and he pledged to “explore areas of potential agreement” before the bill is sent to the Senate floor.
The bill contains a number of CUNA-supported provisions that would:
The full Senate Appropriations Committee will mark up the Financial Services and Government Appropriations Act for 2016 at 10:30 a.m. Thursday.