A variety of press reports have indicated that Chairman Jeb Hensarling appears willing to move S. 2155, a bill focused on community bank regulatory burden relief, separate from a package of bipartisan bills that he hopes to move forward. In a speech before the U.S. Chamber of Commerce late last week, the Chairman said he is open to passing this important legislation without changes so long as “other pathways” to advancing several bills passed on a bipartisan basis in the House exist. Further, the Trump administration has indicated that the President will sign the bill and is hopeful to do so before Memorial Day.
“We are obviously delighted with this news,” said IBAT President and CEO Chris Williston. “IBAT’s position on this issue has not changed and has been communicated clearly throughout the process. Our strong preference—shared by virtually all major banking and credit union trade groups, which is a rarity—is to get this important bill, without amendment, through the House of Representatives as soon as possible. We have also encouraged the Senate to take up and consider a package of bills that has passed the House on a bipartisan basis. S. 2155 is a fragile compromise and contains much of what we have been working on and hoping for throughout the past eight years. We are optimistic the House and Senate can come to a ‘win-win’ agreement to get this bill through the process.”
IBAT encourages continued communication with your respective members of Congress to express your strong support for S. 2155.