The legislation was considered under "suspension of the rules," a process reserved for noncontroversial legislation that limits debate to 40 minutes, bars any amendments, and requires a two-thirds majority vote for passage. The measure bypassed a vote by the House Financial Services Committee and went straight to the House floor, with the blessing of Committee chairman Barney Frank (D-Mass.) and ranking member Spencer Bachus (R-Ala).
There is currently no companion bill in the Senate, but there is at least a reasonable possibility that a companion bill will be introduced into and passed by the Senate during this session.
Sherwin F. Root
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