Sen. Tom Carper and a dozen other senators sent a letter Monday to conferees on regulatory reform legislation asking that language in the Senate bill on a preemption compromise be included in the final legislation.
In the letter, the senators point out that the Delaware Democrat's preemption amendment was altered from its initial version to allow greater enforcement authority for state attorneys general to enforce against national banks.
"The compromise that was ultimately offered in lieu of that amendment sought to preserve our national banking system while also giving state attorneys general the authority to enforce the new rules that will be promulgated by the Consumer Financial Protection Bureau. This was a hard-fought compromise that will provide national banks with greater certainty and predictability while seeking to strengthen consumer protections," wrote the senators in the letter sent to Senate Banking Committee Chairman Chris Dodd, House Financial Services Committee Chairman Barney Frank, and the top two Republicans on either committee, Sen. Richard Shelby and Rep. Spencer Bachus.
