Manatt’s Richard Gottlieb, co-chair of the firm’s financial services group, was quoted by Legal NewsLine for an article on whether the Financial Institution Customer Protection Act still stands a chance to become law.
As reported by Legal NewsLine, the bipartisan legislation, which was passed last month by the U.S. House of Representatives, aims to undo the unintended consequences of the Obama-era Operation Choke Point program. Although the bill may not quickly come up in the Senate, it still stands a “decent” chance to become law, predicts Gottlieb.
Gottlieb told the publication that Senate Majority Leader Mitch McConnell has not signaled that he intends for the Senate to take up the Financial Institution Customer Protection Act, as he’s been concentrating on more urgent matters such as the government shutdown. But while there's no apparent urgency to take it up, there’s also no apparent opposition to the legislation in the Senate.
Read the article here.