The House Financial Services Committee approved a bill to enable coordination between state and federal regulators on examining banks' third-party vendor relationships among a series of votes by the panel Tuesday.
The committee also moved legislation that would create an independent financial technology task force. Both the vendor and fintech bills passed unanimously.
Meanwhile, the committee also passed a more partisan measure that would amend the Truth in Lending Act to clarify that the points and fees in connection with a mortgage loan do not include certain compensation amounts already taken into account in setting the interest rate on a loan.
State regulators lauded the passage of the Bank Service Company Examination Coordination Act, saying it would eliminate duplication in exams of third-party technology service providers.
Read more in American Banker.