Senator Sam Brownback’s (R-KS) motion to instruct conferees in relation to the Restoring American Financial Stability Act (S. 3217) passed by the Senate last week has been adopted by a vote of 60-30.
According to C-SPAN, it would ask that “auto dealers be exempt from some new financial regulations.”
A separate motion offered by Senators Kay Bailey Hutchison (R-TX) and Kay Hagan (D-NC) to make sure that proprietary trading rules don’t impact depository institution affiliates, such as insurance companies, that serve military families was adopted by a vote of 87-4.
Neither motion is binding on Senate negotiators as they work out differences with their bill and one passed by the House.
(credit images – daylife/associated press/getty)