3.0.0 3651 2019-11-15T20:56:16Z 2019-11-15T20:56:16Z House H HR 2011-12-13 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARROW:H.R. 3651.Congress has the power to enact this legislation pursuantto the following:Article I Section 8 Clause 3, the Commerce Clause.[Page H8880]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2012-01-12T20:00:54Z Referred to 2011-12-13T15:02:10Z 2012-01-12 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2011-12-13 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-12-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-12-13 Introduced in House IntroReferral 1000 9 Library of Congress B001252 Rep. Barrow, John [D-GA-12] John Barrow D GA 12 N Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Consumer credit Housing finance and home ownership Finance and Financial Sector 00 2011-12-13 Introduced in House 2012-02-14T21:01:14Z Amends the Truth in Lending Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to make an exemption from the requirement that a creditor in a non-credit card consumer credit transaction secured by a first lien on the principal dwelling (other than a reverse mortgage) establish an escrow or impound account for mandatory periodic payments or premiums (including taxes, insurance, and ground rents).

Exempts a creditor with less than $1 billion in assets from: (1) this requirement when the consumer credit transaction has an annual percentage rate exceeding the average prime offer rate for a comparable transaction as of the date the interest rate is set by 1.5 or more percentage points; and (2) any other provision of such Act that requires the creditor to establish an escrow or impound account with respect to such a transaction.

]]> To amend the Truth in Lending Act to exempt certain creditors from the escrow account requirement for higher-priced mortgage loans, and for other purposes. Display Title To amend the Truth in Lending Act to exempt certain creditors from the escrow account requirement for higher-priced mortgage loans, and for other purposes. Official Title as Introduced To amend the Truth in Lending Act to exempt certain creditors from the escrow account requirement for higher-priced mortgage loans, and for other purposes. Introduced in House 2011-12-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr3651ih/xml/BILLS-112hr3651ih.xml 2012-01-12 Referred to the Subcommittee on Financial Institutions and Consumer Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.