Amending Wall Street

The Senate will soon consider possibly hundreds of amendments to a sweeping bill designed to crack down on Wall Street.

More than a year after the financial crisis drove the U.S. economy into a deep recession, the Senate will weigh major and minor changes to the nation's sprawling financial regulatory system.

Here's a list of the initial amendments headed for the floor. The Hill's On the Money blog will update this list frequently:

Amendments approved

-- Sen. Barbara BoxerBarbara Levy BoxerHillicon Valley: Ocasio-Cortez clashes with former Dem senator over gig worker bill | Software engineer indicted over Capital One breach | Lawmakers push Amazon to remove unsafe products Ocasio-Cortez blasts former Dem senator for helping Lyft fight gig worker bill Only four Dem senators have endorsed 2020 candidates MORE (D-Calif.) has a two-page amendment that says no taxpayer funds will be used in liquidating failing firms. Roll Call vote, 96-1

-- Sens. Chris Dodd (D-Conn.) and Richard Shelby (R-Ala.) reached an agreement on 'too big to fail provisions' that nix a $50 billion fund to cover costs of a financial collapse. It gives the Federal Deposit Insurance Corporation the ability to liquidate large firms with a line of credit from the Treasury Department. The FDIC would recoup losses by selling off assets of failed firms. Creditors would be required to pay back any money received above what they would've gotten through bankruptcy. The amendment limits the authority of regulators to help financial firms and would require Congressional approval of debt guarantees, such as what the FDIC did during the 2008 financial crisis. The Federal Reserve also could use emergency lending powers to assist solvent firms. Roll Call vote, 93-5

-- Sen. Olympia Snowe (R-Maine) proposed two amendments considered together in the Senate. The first would strike language requiring banks to make disclosures such as the number and dollar amount of deposit accounts of customers, and geo-coding, by census tract, of residence or business location of each customer to the Consumer Financial Protection Bureau. The bill's provisions would have imposed regulatory costs on banks and possibly violated privacy rights. Voice vote

The second amendment preserves the ability for small business owners to use their homes as collateral to access credit. Voice vote

-- Sens. Jon TesterJonathan (Jon) TesterBennet reintroduces bill to ban lawmakers from becoming lobbyists Schumer seeks focus on health care amid impeachment fever Red-state Democrats worry impeachment may spin out of control MORE (D-Mont.) and Kay Bailey Hutchison (R-Texas) have an amendment to redefine the Federal Deposit Insurance Corporation's (FDIC) assessment base that aims to shift the burden to big banks and away from small, community banks. The amendment was strongly supported by consumer banks. Roll Call vote, 98-0


PENDING AMENDMENTS

-- Democratic Sens. Robert MenendezRobert (Bob) MenendezTurkey sanctions face possible wall in GOP Senate Paul blocks Senate vote on House-passed Syria resolution House to vote on resolution condemning Trump's Syria pullback MORE (N.J.) and Daniel Akaka (Hawaii) will seek to toughen up a fiduciary standard as it applies to brokers. They argue the fraud case against Goldman Sachs underscores the need for a tougher standard for broker dealers when they give investment advice.

-- Sens. Jeff MerkleyJeffrey (Jeff) Alan MerkleyOvernight Defense: Trump's Syria envoy wasn't consulted on withdrawal | McConnell offers resolution urging Trump to rethink Syria | Diplomat says Ukraine aid was tied to political investigations Trump's Syria envoy says he wasn't consulted on troop withdrawal Democrats introduce SWAMP Act to ban meetings with foreign leaders at Trump properties MORE (Ore.) and Carl LevinCarl Milton LevinRemembering leaders who put country above party Strange bedfellows oppose the filibuster Listen, learn and lead: Congressional newcomers should leave the extremist tactics at home MORE (Mich.) want to ban proprietary trading at banks. 

-- Sen. Byron Dorgan (D-N.D.) said he intended to introduce an amendment banning "naked" credit default swaps, one form of derivatives. 

-- Democratic Sens. Sherrod BrownSherrod Campbell BrownHillary Clinton has said she'd consider 2020 race if she thought she could win: report Democrats jump into Trump turf war over student loans Critics pounce as Facebook crypto project stumbles MORE (Ohio) and Ted Kaufman (Del.) are backing an amendment that targets the size, leveraging and capital requirements of  big banks. The amendment is cosponsored by Sens. Bob CaseyRobert (Bob) Patrick CaseyScrap House defense authorization provision benefitting Russia Here are the Senate Democrats backing a Trump impeachment inquiry over Ukraine call Ex-GOP congressman to lead group to protect Italian products from tariffs MORE (D-Pa.), Sheldon WhitehouseSheldon WhitehouseDemocrats introduce 'THUG Act' to block funding for G-7 at Trump resort The Hill's Morning Report - Tempers boil over at the White House Democrats urge Rick Perry not to roll back lightbulb efficiency rules MORE (D-R.I.), Jeff Merkley (D-Ore.), Tom HarkinThomas (Tom) Richard HarkinWisconsin lawmaker gets buzz-cut after vowing not to cut hair until sign language bill passed Democratic debates kick off Iowa summer sprint Key endorsements: A who's who in early states MORE (D-I.A.), Bernie SandersBernie SandersOvernight Health Care — Presented by Partnership for America's Health Care Future — ObamaCare premiums dropping for 2020 | Warren, Buttigieg shift stances on 'Medicare for All' | Drug companies spend big on lobbying Mellman: Trumping peace and prosperity Tlaib to join Sanders at campaign rally in Detroit MORE (I-Vt.) and Roland Burris (D-Ill.). The amendment would impose a 10 percent cap on a firm's share of total bank deposits in the country. It would limit at 2 percent a bank's non-deposit liabilities and at 3 percent those liabilities at a non-bank. The amendment would also set a 6 percent leverage limit for bank holding companies and selected non-bank companies. Roll Call vote, 33-61. Failed

-- Sen. Sam Brownback (R-Kan.) wants to exempt auto dealers from a new consumer financial protection office. The amendment is supported strongly by the National Automobile Dealers Association (NADA). President Barack ObamaBarack Hussein ObamaSusan Rice: Lindsey Graham is 'a piece of s--t' Brennan's CIA a subject of Barr's review of Russia investigation: report Singer Maggie Rogers speaks out after she was sexually harassed onstage MORE, the Treasury Department and Defense Department have all said they will fight efforts to exempt auto dealers.

-- Sens. Maria CantwellMaria Elaine CantwellZuckerberg launches public defense of Facebook as attacks mount Overnight Energy: Trump administration issues plan to reverse limits on logging in Tongass National Forest| Democrats inch closer to issuing subpoenas for Interior, EPA records| Trump's plan to boost ethanol miffs corn groups and the fossil fuel industry Trump administration issues plan to reverse limits on logging in Tongass National Forest MORE (D-Wash.) and John McCainJohn Sidney McCainPublisher announces McSally book planned for May release Democrats lead Trump by wide margins in Minnesota Here's what to watch this week on impeachment MORE (R-Ariz.) have an amendment to include provisions similar to the 1933 Glass-Steagall Act that separated commercial and investment banking.

-- Sen. Ron WydenRonald (Ron) Lee WydenHouse passes bill taking aim at anonymous shell companies Senate Democrats to force vote Wednesday to overturn IRS rules on SALT deduction cap Hillicon Valley: Facebook removes Russian, Iranian accounts trying to interfere in 2020 | Zuckerberg on public relations blitz | Uncertainty over Huawei ban one month out MORE (D-Ore.) wants to require firms to disclose financial interests in the decline in value of financial products.

-- Sens. Jim Webb (D-Va.) and Barbara Boxer (D-Calif.) have an amendment to tax bonuses at firms that received more than $5 billion in bailout money from he $700 billion rescue package. It would be a one-time tax on bonuses in excess of $400,000.

-- Sen. Bernie Sanders (I-Vt.) wants to require the Government Accountability Office (GAO) to audit the Federal Reserve. This amendment was significantly modified on May 6 to restrict its scope to audits of the Fed's activities during the financial crisis and not to apply to monetary policy audits.

-- Sen. Russ Feingold (D-Wisc.) wants to eliminate automatic pay adjustments for members of Congress.

-- Sen. Ben CardinBenjamin (Ben) Louis CardinThe Hill's Morning Report - Presented by Better Medicare Alliance - Trump has had a rough October Senate Democrats want Warren to talk costs on 'Medicare for All' Democrats vow to push for repeal of other Trump rules after loss on power plant rollback MORE (D-Md.) wants the Securities and Exchange Commission (SEC) to require resource extraction companies to disclose payments to any foreign government or federal government for the extraction of oil, natural gas or minerals. The amendment is cosponsored by Sens. Richard Lugar (R-Ind.), Dick DurbinRichard (Dick) Joseph DurbinHillicon Valley: Zuckerberg would support delaying Libra | More attorneys general join Facebook probe | Defense chief recuses from 'war cloud' contract | Senate GOP blocks two election security bills | FTC brings case against 'stalking' app developer Senate Republicans block two election security bills Democrats dig in ahead of Supreme Court ruling on 'Dreamers' MORE (D-Ill.), Charles SchumerCharles (Chuck) Ellis SchumerTurkey says soldier killed despite cease-fire in Syria Schumer calls for FDA to probe reports of contaminated baby food How Trump and Pelosi went from bad to worse MORE (D-N.Y.), Russ Feingold (D-Wisc.), Jeff Merkley (D-Ore.) and Tim JohnsonTimothy (Tim) Peter JohnsonTrump faces tough path to Fannie Mae, Freddie Mac overhaul Several hurt when truck runs into minimum wage protesters in Michigan Senate GOP rejects Trump’s call to go big on gun legislation MORE (D-S.D.).

-- Sen. John McCain (R-Ariz.) is proposing to require regulators to come up with a date certain to end the conservatorship of Fannie Mae and Freddie Mac.

-- Sen. Bob CorkerRobert (Bob) Phillips CorkerVulnerable senators hold the key to Trump's fate Trump's GOP impeachment firewall holds strong George Conway hits Republicans for not saying Trump's name while criticizing policy MORE (R-Tenn.) wants to require an independent trust to manage assets under the $700 billion bailout program.

-- Sen. Bill NelsonClarence (Bill) William NelsonBottom Line Bottom Line Media and candidates should be ashamed that they don't talk about obesity MORE (D-Fla.) wants the Securities and Exchange Commission (SEC) to develop rules requiring credit rating agencies to have "current and reliable" ratings.

-- Sens. Sheldon Whitehouse (D-R.I.), Jeff Merkley (D-Ore.), Dick Durbin (D-Ill.), Bernie Sanders (I-Vt.), Carl Levin (D-Mich.) and Roland Burris (D-Ill.) want to prevent consumer credit transactions from having higher rates than the maximum allowed in a given state.

-- Sen. Bernie Sanders (I-Vt.) wants to create a national credit usury rate. Sanders is joined by Sens. Pat Leahy (D-Vt.), Tom Harkin (D-Iowa), Sheldon Whitehouse (D-R.I.) and Mark BegichMark Peter BegichAlaska political mess has legislators divided over meeting place Former GOP chairman Royce joins lobbying shop Lobbying world MORE (D-Alaska). The rate would be set at 15 percent. Credit unions would be exempt.

-- Sen. Kay Bailey Hutchison (R-Texas) wants to preserve the Federal Reserve as the primary regulator of state member banks. Hutchison is joined on the amendment by Sens. Amy KlobucharAmy Jean KlobucharHillicon Valley: Zuckerberg would support delaying Libra | More attorneys general join Facebook probe | Defense chief recuses from 'war cloud' contract | Senate GOP blocks two election security bills | FTC brings case against 'stalking' app developer Senate Republicans block two election security bills Warren overtakes Sanders in new poll MORE (D-Minn.), Mike JohannsMichael (Mike) Owen JohannsMeet the Democratic sleeper candidate gunning for Senate in Nebraska Farmers, tax incentives can ease the pain of a smaller farm bill Lobbying World MORE (R-Neb.), Bob Corker (R-Tenn.), David VitterDavid Bruce VitterLouisiana Republicans score big legislative wins Trump calls on Republicans to vote out Democratic Louisiana governor amid GOP infighting Grocery group hires new top lobbyist MORE (R-La.), Kit Bond (R-Mo.), Richard Shelby (R-Ala.), Mike CrapoMichael (Mike) Dean CrapoGOP requests update on criminal referrals prompted by 2018 Kavanaugh probe Nearing finish line, fight for cannabis banking bill shifts to the Senate On The Money: Trump strikes trade deal with Japan on farm goods | GOP senator to meet Trump amid spending stalemate | House passes cannabis banking bill | Judge issues one-day pause on subpoena for Trump's tax returns MORE (R-Idaho), Scott Brown (R-Mass.) and Bob Bennett (R-Utah). Major financial trade associations, including the Independent Community Bankers of America (ICBA), American Bankers Association (ABA), Financial Services Forum and Financial Services Roundtable have urged senators to keep the Fed as a regulator over smaller state-member banks.

-- Sen. David Vitter (R-La.) wants to strike a section of the bill aimed at expanding access to financial activities and banks for low and moderate income people. The legislation would encourage regulators to conduct studies and provide incentives away from payday loans.

-- Sen. Kay HaganKay Ruthven HaganWarning signs flash for Tillis in North Carolina Tillis trails Democratic challenger by 7 points in North Carolina poll North Carolina businessman will challenge Tillis in GOP primary MORE (D-N.C.) is joined by Sens. Charles Schumer (D-N.Y.) and Dick Durbin (D-Ill.) on an amendment reining in the payday loan industry. The amendment would cap at six the number of short-term loans a borrower may have in a given year.

-- Sen. Jeff Merkley (D-Ore.) plans to introduce an amendment ensuring state insurance regulators retain strong powers under a new Office of National Insurance. Merkley is concerned the office would preempt state insurance rules.

-- Sen. Bill Nelson (D-Fla.) wants to repeal "safe harbor" provisions for financial derivatives when a company goes into bankruptcy. 

-- Sen. Bob Corker (R-Tenn.) wants to strike legislation requiring lenders keep 5 percent of the risk. Corker is joined by Sens. Mike EnziMichael (Mike) Bradley EnziPoll: Majority of independent voters want GOP to retain control of Senate in 2020 Here are the lawmakers who aren't seeking reelection in 2020 Liz Cheney and Rand Paul extend war of words MORE (R-Wyo.) and Kay Bailey Hutchsion (R-Texas) on the amendment. The senators want to require a sudy of the asset-backed securitization process.

-- Sen. Orrin HatchOrrin Grant HatchTrump holds more Medal of Freedom ceremonies than predecessors but awards fewer medals Trump to award Medal of Freedom to former Attorney General Edwin Meese Trump to award racing legend Roger Penske with Presidential Medal of Freedom MORE (R-Utah) has an amendment to require the Treasury Department to report to Congress within six months with a plan to reform Fannie Mae and Freddie Mac. The amendment is also backed by Sens. Scott Brown (R-Mass.) and Mike Enzi (R-Wyo.)

-- Sen. Jack ReedJohn (Jack) Francis ReedErdoğan got the best of Trump, experts warn Senators fear Syria damage 'irreversible' after Esper, Milley briefing This week: Congress returns to chaotic Washington MORE (D-R.I.) is planning to introduce an amendment that would require Securities and Exchange Commission (SEC) registration for hedge funds and other funds with at least $30 million in assets under management.

-- Sen. Byron Dorgan (D-N.D.) said Tuesday he would introduce an amendment to give a council of regulators greater power to break up firms that it deems are "too big to fail."

-- Sen. Dick Durbin (D-Ill.) has an amendment to give the consumer protection office power over private student loans.

-- Sen. Dick Durbin (D-Ill.) has three amendments aimed at restricting "interchange fees" between credit card issuers and merchants, retailers and others. The three amendments apply to debit cards, interchange fees charged to the government and anti-competitive practices.

-- Sens. Ron Wyden (D-Ore.) and Charles GrassleyCharles (Chuck) Ernest GrassleyMulvaney faces uncertain future after public gaffes State cites 38 people for violations in Clinton email review Lawmakers from both sides of the aisle mourn Cummings MORE (R-Iowa) want to end the practice of senators placing secret holds. The amendment would require written notice and publication of a hold.

-- Sen. Tom Harkin (D-Iowa) introduced an amendment to require the new consumer financial regulator to ensure that ATM fees, "bear a reasonable relation to the cost of processing the transaction." Harkin is joined by Sens. Charles Schumer (D-N.Y.) and Bernie Sanders (I-Vt.) on the amendment.

-- Sen. Pat Leahy (D-Vt.) submitted an amendment to include a new title to the bill, called the "Faster FOIA Act of 2010." The legislation would require a commission to study ways to improve the speed of freedom of information act requests. The commission would have congressional and executive branch appointees.

-- Sen. Mark PryorMark Lunsford PryorMedicaid rollback looms for GOP senators in 2020 Cotton pitches anti-Democrat message to SC delegation Ex-Sen. Kay Hagan joins lobby firm MORE (D-Ark.) submitted an amendment giving the Securities and Exchange Commission greater power to look at credit rating agencies.

-- Sen. Charles Schumer (D-N.Y.) wants to require the Department of Housing and Urban Development to establish a program to protect tenants and at-risk multifamily properties.

-- Sen. Mark UdallMark Emery UdallPoll: Trump trails three Democrats by 10 points in Colorado The Hill's Morning Report — Trump and the new Israel-'squad' controversy Colorado candidates vying to take on Gardner warn Hickenlooper they won't back down MORE (D-Colo.) has an amendment to require free credit scores. The amendment is cosponsored by Sens. Richard Lugar (R-Ind.), Kit Bond (R-Mo.), Scott Brown (R-Mass.), Sherrod Brown (D-Ohio), Kay Hagan (D-N.C.), Carl Levin (D-Mich.), Joe Lieberman (I-Conn.), Claire McCaskillClaire Conner McCaskillIranian attacks expose vulnerability of campaign email accounts Ex-CIA chief worries campaigns falling short on cybersecurity Ocasio-Cortez blasts NYT editor for suggesting Tlaib, Omar aren't representative of Midwest MORE (D-Mo.) and Jeanne ShaheenCynthia (Jeanne) Jeanne ShaheenCash surge puts more Senate races in play Graham, Van Hollen introduce Turkey sanctions bill Senators fear Syria damage 'irreversible' after Esper, Milley briefing MORE (D-N.H.).

-- Sen. Bob Corker (R-Tenn.) submitted an amendment requiring an, "Asset Bubble Study." Corker wants federal regulators and agencies to study the, "feasability and advisability of establishing quantitative criteria for identifying housing bubbles." The amendment is backed by Sens. Mike Enzi (R-Wyo.), Johnny IsaksonJohnny IsaksonJoe Lieberman's son running for Senate in Georgia Poll: Majority of independent voters want GOP to retain control of Senate in 2020 Embracing President Mike Pence might be GOP's best play MORE (R-Ga.), Saxby ChamblissClarence (Saxby) Saxby ChamblissThe Hill's Morning Report - Gillibrand drops out as number of debaters shrinks Hoekstra emerges as favorite for top intelligence post Republicans say Democrats holding up disaster relief as 'Sandy payback' MORE (R-Ga.) and John BarrassoJohn Anthony BarrassoConservation gains in Senate bill would help all Americans To stave off a recession, let's pass a transportation infrastructure bill Overnight Defense: GOP wary of action on Iran | Pence says US 'locked and loaded' to defend allies | Iran's leader rules out talks with US MORE (R-Wyo.).

-- Sen. Patty MurrayPatricia (Patty) Lynn MurrayDemocrats urge Rick Perry not to roll back lightbulb efficiency rules Biz groups say Warren labor plan would be disaster Freedom of the press under fire in Colorado MORE (D-Wash.) introduced an amendment requiring a state securities regulator to be represented on a new financial stability oversight council of regulators designed to look for broad systemic risks. The amendment is supported by the North American Securities Administrators Association.

-- Sen. Al FrankenAlan (Al) Stuart FrankenTake Trump literally and seriously in Minnesota Ninth woman accuses Al Franken of inappropriate contact Al Franken to host SiriusXM radio show MORE (D-Minn.) has an amendment prevent conflicts of interest in the credit rating agency industry. Currently issuers pay ratings firms to grade their offerings. Franken wants to create a Credit Rating Agency Board to task a ratings firm to grade each offering. Franken is joined by Sens. Charles Schumer (D-N.Y.) and Bill Nelson (D-Fla.) on the amendment.

-- Sen. Claire McCaskill (D-Mo.) filed an amendment to create a council of inspectors general on financial oversight.

-- Sen. Lisa MurkowskiLisa Ann MurkowskiMulvaney defends decision to host G-7 at Doral: Trump 'considers himself to be in the hospitality business' Trump says his Doral resort will no longer host G-7 after backlash Overnight Defense — Presented by Boeing — Pence says Turkey agrees to ceasefire | Senators vow to move forward with Turkey sanctions | Mulvaney walks back comments tying Ukraine aid to 2016 probe MORE (R-Alaska) wants to exempt banks and credit unions with $5 billion or less in assets from the rules, examinations and enforcement powers of a new consumer financial protection regulator.

-- Sen. Susan CollinsSusan Margaret CollinsCNN: Biden likened Clinton impeachment to 'partisan lynching' in 1998 The Memo: Trump 'lynching' firestorm is sign of things to come Susan Collins calls on Trump to retract tweet comparing impeachment inquiry to 'lynching' MORE (R-Maine) wants to add the National Credit Union Administration (NCUA) to a financial stability council of regulators designed to oversee the financial system for broad risks.