The Senate Commerce Committee approved a bill last week that would cap damages in year-2000-related lawsuits.

The bill, sponsored by committee Chairman John McCain, R-Ariz., would limit punitive damages to $250,000, or three times actual damages, whichever is larger. It is one of several pieces of legislation that would curtail liability.

Gordon Glaza, regulatory counsel at the American Bankers Association, said the group does not care which bill passes, so long as it "neutralizes the litigation threat."

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