Sources close to the LSCU shared information that late Friday, an agreement was reached by Hensarling and Waters on a new bipartisan reg relief package — the Posey RBC delay legislation is one of the provisions in the bill. Click here for provisions.
This House effort will be folded into an existing Senate bill, and will likely be passed by the full House Tuesday or Wednesday. According to Hensarling’s staff, there’s an “excellent chance“ that these provisions will be agreed to by the Senate.
RBC delay will be part of three different bills:
1.) Defense Authorization/Committee on Foreign Investment
2.) Financial Services Appropriation
3.) this Capital Reform package.
The multi-pronged approach means increased chances to get this into law sometime this fall.