Financial Services Regulatory Reform Update - April 12, 2010

REID ACCELERATES TIMELINE FOR CONSIDERATION - REGULATORY REFORM

LIKELY TO BE ON THE FLOOR NEXT WEEK:

Despite the fact that the Administration continued to use its bully pulpit during this past week to highlight the need for what it is calling “Wall Street Regulatory Reform” many on Capitol Hill and K Street were surprised when Senate Majority Leader Reid announced late in the week that he plans on bringing the Senate passed version of the bill to the floor next week. Although no one had an idea as to when the bill was going to be the floor, the conventional wisdom appeared to be that it was more likely that consideration would slip a week backwards, not forward, from the rumored April 26th start date. Whether this accelerated timeline was simply a negotiating tactic or if the bill will actually be on the floor of the Senate next week remains to be seen. In trying to read the tea leaves it is worth noting that Leader Reid only filed cloture on pending nominations and not for the reg reform bill.

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