Before Adjourning, US Congress Adopts Budget with Dodd-Frank Amendments; Fails to Pass Terrorism Risk Insurance Legislation

    View Authors 18 December 2014

    The 113th Congress adjourned on December 16.  The House and Senate passed a series of measures before the last vote was cast, including a budget proposal that will fund the federal government through September 2015. Included in these packages were several provisions that could have a significant impact on the financial services industry.

    The closing days of the Congressional session included debate about a number of issues related to insurance, banks, and derivatives regulation. Some of these proposals were adopted, while others were postponed until the 114th Congress begins in January 2015.

    This publication explores some of the contemplated amendments and analyzes the resulting legislation as it relates to the financial services industry.  It also previews what can be expected from lawmakers when they resume debate on many of these issues in the coming months.