The Senate Banking Committee passed S. 2155, the “Economic Growth, Regulatory Relief and Consumer Protection Act,” with support from Democrats and Republicans, as well as the financial industry.
The legislation primarily is intended to benefit community banks, mid-size banks, smaller regional banks, credit unions and custody banks. The bill gained new amendments specifically affecting credit unions during the mark-up phase.
Read on to find out more about the legislation ahead of a vote by the full Senate.