Senate Set to Take First Vote on Reg Reform
The Senate late this afternoon is scheduled to hold a procedural vote on whether to begin consideration of a regulatory restructuring bill, though there hasn't been an agreement on what the measure will look like.
"I don't believe we'll have a bill today," Sen. Richard Shelby, the top Republican on the Senate Banking Committee, said today on ABC's Good Morning America.
He and Committee Chairman Christopher Dodd and their staffs are scheduled to try to iron out differences during a meeting before the vote, which will likely occur around 5:00 p.m. The panel reported out a bill, along party lines, last month.
All 41 Senate Republicans have said they will vote against beginning consideration of the measure until Dodd and Shelby have reached an agreement.
Once the Senate takes up the measure, its rules allow amendments on a range of issues. Therefore, lobbyists for credit unions are keeping a watchful eye for amendments on issues such as additional regulations on interchange fees.