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Dear MAA Member:
On Thursday, November 16, Senate Banking Committee Chairman Mike Crapo (R-ID), with the support of a bipartisan group of senators, introduced a broad regulatory relief package: S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. In addition to Chairman Crapo, nine Republicans, nine Democrats, and one Independent currently support this legislation:
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Sen. Bob Corker (R-TN)
Sen. Tim Scott (R-SC)
Sen. Tom Cotton (R-AR)
Sen. Mike Rounds (R-SD)
Sen. David Perdue (R-GA)
Sen. Thom Tillis (R-NC)
Sen. John Kennedy (R-LA)
Sen. Jerry Moran (R-KS)
Sen. James E. Risch (R-ID)
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Sen. Joe Donnelly (D-IN)
Sen. Heidi Heitkamp (D-ND)
Sen. Jon Tester (D-MT)
Sen. Mark R. Warner (D-VA)
Sen. McCaskill (D-MO)
Sen. Joe Manchin, III (D-WV)
Sen. Tim Kaine (D-VA)
Sen. Gary C. Peters (D-MI)
Sen. Michael F. Bennet (D-CO)
Sen. Angus S. King, Jr. (I-ME)
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The legislation contains several of MBA’s priorities including: SAFE Act Amendments to create a transitional authority to originate loans, consumer protections for Property Assessed Clean Lending (PACE) loans, relief from HMDA reporting requirements for some institutions, as well as important fixes to TRID.
Advocacy from our industry has kept these priorities front and center all year, and we need your help to ensure this legislation has the support it needs for full Senate passage.
The bill is currently scheduled for a markup in the Senate Banking Committee on December 5. In order to convince Senate leaders to quickly advance this important proposal through the Senate Banking Committee and to the Senate floor, we must increase bipartisan support for the proposal.
You can help NOW by taking action and contacting your Senators to encourage them to cosponsor S. 2155!
If you encounter any issues, please contact Peter Shapiro at 202-557-2933 or pshapiro@mba.org. If you did not receive this Call to Action from maa@mba.org you may not have an active MAA membership. Please click here to sign up for MAA.
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