Senate Democrats say the Senate will vote on whether to limit debate on S. 3217, the Restoring American Financial Stability Act bill, Wednesday.
If the supporters of S. 3217 win approval for the cloture motion, the Senate could hold a final vote on the bill by Friday.
Time for further floor debate on proposed amendments is running short, but insurer groups and producer groups still have a hope of getting changes and additions they want into a bipartisan manager’s amendment being crafted by Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking, Housing and Urban Affairs Committee, and Sen. Richard Shelby, R-Ala., the highest-ranking Republican on the committee.
One provision still in play could make a state insurance regulator, a state banking regulator and a state securities regulator non-voting members of a proposed Systemic Risk Council. That change was proposed in an amendment offered by Sen. Susan Collins, R-Maine.
Sen. Jeffrey Merkley, D-Oregon, has introduced an amendment that would scale back the ability of a proposed Office of National Insurance to preempt state insurance laws and regulations to resolve conflicts with international trade agreements.