Senate Banking Committee Chairman Richard Shelby, R-Ala., unveiled a discussion draft Tuesday of his highly anticipated legislation to reform the banking industry. The bill tackles a number of areas, including changes to a key Dodd-Frank Act threshold for enhanced prudential standards and the Consumer Financial Protection Bureau's qualified mortgage rule.

Republican committee aides told reporters repeatedly that the proposal was crafted explicitly to "attract bipartisan support" and that it focuses on measures that have either been considered or passed by either the House or the Senate in recent years.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.