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Tuesday, June 19, 2012

Appropriations Bill to Include SEC Registration & CFPB Funding Changes

The House Appropriations Committee will mark up the fiscal year 2013 Financial Services appropriations bill tomorrow. The Committee is expected to release report language that includes provisions to encourage the SEC to allow savings and loan holding companies to take advantage of the recent changes to the SEC registration requirements and to address the IRS non-resident alien rule.

The legislation also includes a provision that would change the CFPB’s funding source from the Federal Reserve to the Congressional appropriations process starting in fiscal year 2014.

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