The regulatory restructuring bill -which CUNA and NAFCU are opposing because of the interchange provisions–came closer to passing the Senate when Sen. Maria Cantwell (D-Wash.) announced she would support it.
Cantwell, who opposed the bill when it first passed the Senate earlier this year, said in a statement while the bill is "not perfect," it makes "significant strides toward preventing the kind of financial meltdown that we saw in the fall of 2008."
The Senate is scheduled to take up the bill, which was passed by the House on Wednesday, during the week of July 12.
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