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Wednesday, December 12, 2012

Senate Passes ABA-Backed Bills

The Senate has passed by voice vote—and cleared for President Obama’s signature—an ABA-supported bill (H.R. 4367) that will protect banks from frivolous lawsuits by repealing the outdated, duplicative requirement that a placard must be attached to ATMs stating that a fee may be charged. The House passed the legislation on July 9.

The Senate also passed by voice vote—and cleared for President Obama’s signature—an ABA-backed bill (H.R. 4014) that will protect confidential bank examination information provided to the CFPB. The legislation will provide the CFPB with same express rules protecting privileged information as those already applicable to other federal banking regulators.


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