WASHINGTON — The House Financial Services Committee passed a municipal advisor bill Wednesday after striking a requirement that MAs have written agreements with issuers, one of the bill’s most contentious provisions.

The amendment, introduced by Rep. Barney Frank, D-Mass., eliminated the phrase “in writing” from the MA definition in the bill, which was introduced last year by Rep. Robert Dold, R-Ill. The measure now defines an MA as a person who “is engaged, for compensation,” by a municipality to provide finance advice. 

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