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Key Votes

S 2155 - Economic Growth, Regulatory Relief, and Consumer Protection Act - National Key Vote

Kathy Castor voted Nay (Passage) on this Legislation.

Read statements Kathy Castor made in this general time period.

Timeline

Issues Related to S 2155

Stage Details

Legislation - Signed (Executive) -

Title: Economic Growth, Regulatory Relief, and Consumer Protection Act

Legislation - Bill Passed (House) (258-159) - (Key vote)
See How Your Politicians Voted

Title: Economic Growth, Regulatory Relief, and Consumer Protection Act

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

A vote to pass a bill that amends various banking regulations of the Dodd-Frank Reform and Consumer Protection Act.

Highlights:
  • Increases the enhanced regulatory standards for certain depository institutions and bank holding companies from $50 billion to $250 billion (Title IV, Sec. 401).
  • Authorizes a qualified mortgage safe harbor for banks and credit unions labeled “covered institutions” that have total consolidated assets of $10 billion or less (Title I & II, Sec. 101-201).

  • Defines a “qualified mortgage” as any residential mortgage loan that is originated and retained by a covered institution (Title I, Sec. 101).

  • Defines “covered institution” as an insured depository institution or insured credit union that together with its affiliates, has less than $10 billion in total assets (Title I, Sec. 101).

  • Authorizes federal banking agencies to determine if a depository institution is a qualifying community bank based on the company’s risk profile (Title II, Sec. 201).

  • Specifies that a depository institution’s risk profile will be based on its trading assets and liabilities, or any other factors the federal banking agency determines appropriate (Title II, Sec. 201).

  • Authorizes custodial banks to omit funds deposited with a central bank when calculating their supplementary leverage ratio (Title IV, Sec. 402).

  • Specifies that a “central bank” includes the following institutions (Title IV, Sec. 402):

    • The Federal Reserve System;

    • The European Central Bank; and

    • Banks in member countries of the Organization for Economic Cooperation and Development.

  • Defines “custodial bank” as any depository institution holding company that is predominantly engaged in custody, safekeeping, and asset servicing activities (Title IV, Sec. 402).

Legislation - Bill Passed (Senate) (67-31) - (Key vote)
See How Your Politicians Voted

Title: Economic Growth, Regulatory Relief, and Consumer Protection Act

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

A vote to pass a bill that amends various banking regulations of the Dodd-Frank Reform and Consumer Protection Act.

Highlights:
  • Increases the enhanced regulatory standards for certain depository institutions and bank holding companies from $50 billion to $250 billion (Title IV, Sec. 401).
  • Authorizes a qualified mortgage safe harbor for banks and credit unions labeled “covered institutions” that have total consolidated assets of $10 billion or less (Title I & II, Sec. 101-201).

  • Defines a “qualified mortgage” as any residential mortgage loan that is originated and retained by a covered institution (Title I, Sec. 101).

  • Defines “covered institution” as an insured depository institution or insured credit union that together with its affiliates, has less than $10 billion in total assets (Title I, Sec. 101).

  • Authorizes federal banking agencies to determine if a depository institution is a qualifying community bank based on the company’s risk profile (Title II, Sec. 201).

  • Specifies that a depository institution’s risk profile will be based on its trading assets and liabilities, or any other factors the federal banking agency determines appropriate (Title II, Sec. 201).

  • Authorizes custodial banks to omit funds deposited with a central bank when calculating their supplementary leverage ratio (Title IV, Sec. 402).

  • Specifies that a “central bank” includes the following institutions (Title IV, Sec. 402):

    • The Federal Reserve System;

    • The European Central Bank; and

    • Banks in member countries of the Organization for Economic Cooperation and Development.

  • Defines “custodial bank” as any depository institution holding company that is predominantly engaged in custody, safekeeping, and asset servicing activities (Title IV, Sec. 402).

Legislation - Introduced (Senate) -

Title: Economic Growth, Regulatory Relief, and Consumer Protection Act

Committee Sponsors

Sponsors

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