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House Passes Amendment to Remove Federal Reserve Dividend Reduction Provision

Posted on 11/5/2015

Moments ago, the House of Representatives overwhelmingly approved, by a vote of 354 to 72, an amendment offered by Representatives Randy Neugebauer and Bill Huizenga to remove the Federal Reserve dividend reduction provision from the Highway bill. The amendment also removed an extension of higher Fannie Mae and Freddie Mac guarantee fees.

ABA, State Bankers Associations and bankers have been working to remove the dividend reduction provision since this measure was included in the Senate version of the Highway bill in July. With passage of the Highway bill in the House, the House and Senate will now move to conference where the Federal Reserve dividend issue will be part of the discussion.

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