3.0.0 1233 2023-01-11T13:28:13Z 2023-01-11T13:28:13Z House HR 2015-03-04 114 [Congressional Record Volume 161, Number 37 (Wednesday, March 4, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LUETKEMEYER:H.R. 1233.Congress has the power to enact this legislation pursuantto the following:The constitutional authority on which this bill rests isthe explicit power of Congress to regulate commerce in andamong the states, as enumerate in Article 1, Section 8,Clause 3, the Commerce Clause, of the United StatesConstitution.Additionally, Article 1, Section 7, Clause 2 of theConstitution allows for every bill passed by the House ofRepresentatives and the Senate and signed by the President tobe codified into law; and therefore implicitly allowsCongress to repeal any bill that has been passed by bothchambers and signed into law by the President.[Page H1614]]]> hsba00 Financial Services Committee House Standing Referred to 2015-03-04T15:01:40Z Eliminate Privacy Notice Confusion Act 114 601 HR 2015-04-14 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Portfolio Lending and Mortgage Access Act 114 1210 HR 2015-11-19 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Privacy Notice Modernization Act of 2015 114 423 S 2015-02-12 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS Portfolio Lending and Mortgage Access Act 114 1113 HR 2015-02-26 Referred to the House Committee on Financial Services. Related bill CRS Mortgage Servicing Asset Capital Requirements Act of 2015 114 1408 HR 2015-07-15 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Community Institution Mortgage Relief Act of 2015 114 1529 HR 2015-04-06 Placed on the Union Calendar, Calendar No. 38. Related bill CRS To raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes. 114 3791 HR 2016-06-23 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-366. Related bill CRS Portfolio Lending and Mortgage Access Act 114 2995 S 2016-05-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2015-03-04 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-03-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-03-04 Introduced in House IntroReferral 1000 9 Library of Congress L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 N K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2015-03-16 False H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2015-03-16 False Z000018 Rep. Zinke, Ryan K. [R-MT-At Large] Ryan Zinke R MT K. 0 2015-03-23 False W000796 Rep. Westmoreland, Lynn A. [R-GA-3] Lynn Westmoreland R GA A. 3 2015-03-25 False S000583 Rep. Smith, Lamar [R-TX-21] LAMAR SMITH R TX 21 2015-03-25 False F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2015-04-13 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2015-04-13 False B001294 Rep. Blum, Rod [R-IA-1] Rod Blum R IA 1 2015-04-13 False R000593 Rep. Ross, Dennis A. [R-FL-15] Dennis Ross R FL A. 15 2015-04-13 False B001260 Rep. Buchanan, Vern [R-FL-16] Vern Buchanan R FL 16 2015-04-21 False R000582 Rep. Roe, David P. [R-TN-1] David Roe R TN P. 1 2015-04-21 False P000258 Rep. Peterson, Collin C. [D-MN-7] COLLIN PETERSON D MN C. 7 2015-04-21 False N000184 Rep. Noem, Kristi L. [R-SD-At Large] Kristi Noem R SD L. 0 2015-04-21 False H001045 Rep. Harper, Gregg [R-MS-3] Gregg Harper R MS 3 2015-04-21 False R000598 Rep. Rothfus, Keith J. [R-PA-12] Keith Rothfus R PA J. 12 2015-04-21 False W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2015-04-22 False J000296 Rep. Jolly, David W. [R-FL-13] David Jolly R FL W. 13 2015-04-22 False S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2015-04-23 False P000599 Rep. Posey, Bill [R-FL-8] Bill Posey R FL 8 2015-04-29 False W000806 Rep. Webster, Daniel [R-FL-10] Daniel Webster R FL 10 2015-04-29 False C001107 Rep. Curbelo, Carlos [R-FL-26] Carlos Curbelo R FL 26 2015-04-29 False G000560 Rep. Graves, Tom [R-GA-14] Tom Graves R GA 14 2015-04-29 False C001053 Rep. Cole, Tom [R-OK-4] Tom Cole R OK 4 2015-04-29 False F000451 Rep. Fitzpatrick, Michael G. [R-PA-8] Michael Fitzpatrick R PA G. 8 2015-04-29 False A000055 Rep. Aderholt, Robert B. [R-AL-4] ROBERT ADERHOLT R AL B. 4 2015-04-29 False T000462 Rep. Tiberi, Patrick J. [R-OH-12] PATRICK TIBERI R OH J. 12 2015-04-29 False S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2015-05-01 False D000533 Rep. Duncan, John J., Jr. [R-TN-2] JOHN DUNCAN R TN J. 2 2015-05-01 False B001274 Rep. Brooks, Mo [R-AL-5] Mo Brooks R AL 5 2015-05-01 False J000290 Rep. Jenkins, Lynn [R-KS-2] Lynn Jenkins R KS 2 2015-05-01 False M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2015-05-01 False L000566 Rep. Latta, Robert E. [R-OH-5] Robert Latta R OH E. 5 2015-05-01 False H001056 Rep. Herrera Beutler, Jaime [R-WA-3] Jaime Herrera Beutler R WA 3 2015-05-01 False H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2015-05-01 False B001269 Rep. Barletta, Lou [R-PA-11] Lou Barletta R PA 11 2015-05-01 False P000588 Rep. Pearce, Stevan [R-NM-2] Stevan Pearce R NM 2 2015-05-05 False D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2015-05-05 False C001096 Rep. Cramer, Kevin [R-ND-At Large] Kevin Cramer R ND 0 2015-05-05 False S001188 Rep. Stutzman, Marlin A. [R-IN-3] Marlin Stutzman R IN A. 3 2015-05-05 False B001289 Rep. Byrne, Bradley [R-AL-1] Bradley Byrne R AL 1 2015-05-05 False A000374 Rep. Abraham, Ralph Lee [R-LA-5] Ralph Abraham R LA Lee 5 2015-05-12 False H001051 Rep. Hanna, Richard L. [R-NY-22] Richard Hanna R NY L. 22 2015-05-12 False H001067 Rep. Hudson, Richard [R-NC-8] Richard Hudson R NC 8 2015-05-12 False R000575 Rep. Rogers, Mike D. [R-AL-3] Mike Rogers R AL 3 2015-05-12 False Z000017 Rep. Zeldin, Lee M. [R-NY-1] Lee Zeldin R NY M. 1 2015-05-12 False W000821 Rep. Westerman, Bruce [R-AR-4] Bruce Westerman R AR 4 2015-05-15 False F000459 Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] Charles Fleischmann R TN J. "Chuck" 3 2015-05-15 False N000185 Rep. Nugent, Richard B. [R-FL-11] Richard Nugent R FL B. 11 2015-05-20 False P000592 Rep. Poe, Ted [R-TX-2] Ted Poe R TX 2 2015-05-20 False H001060 Rep. Hurt, Robert [R-VA-5] Robert Hurt R VA 5 2015-05-20 False R000603 Rep. Rouzer, David [R-NC-7] David Rouzer R NC 7 2015-05-20 False L000576 Rep. Long, Billy [R-MO-7] Billy Long R MO 7 2015-05-20 False Y000065 Rep. Yoho, Ted S. [R-FL-3] Ted Yoho R FL S. 3 2015-05-20 False B001273 Rep. Black, Diane [R-TN-6] Diane Black R TN 6 2015-05-20 False R000587 Rep. Ribble, Reid J. [R-WI-8] Reid Ribble R WI J. 8 2015-06-03 False A000369 Rep. Amodei, Mark E. [R-NV-2] Mark Amodei R NV E. 2 2015-06-03 False S001196 Rep. Stefanik, Elise M. [R-NY-21] Elise Stefanik R NY M. 21 2015-06-03 False S001172 Rep. Smith, Adrian [R-NE-3] Adrian Smith R NE 3 2015-06-03 False G000565 Rep. Gosar, Paul A. [R-AZ-4] Paul Gosar R AZ A. 4 2015-06-03 False C001092 Rep. Collins, Chris [R-NY-27] Chris Collins R NY 27 2015-06-03 False C001051 Rep. Carter, John R. [R-TX-31] John Carter R TX R. 31 2015-06-08 False H001057 Rep. Huelskamp, Tim [R-KS-1] Tim Huelskamp R KS 1 2015-06-08 False E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 2015-06-09 False C001103 Rep. Carter, Earl L. "Buddy" [R-GA-1] Earl Carter R GA L. "Buddy" 1 2015-06-16 False B001291 Rep. Babin, Brian [R-TX-36] Brian Babin R TX 36 2015-06-16 False P000606 Rep. Pittenger, Robert [R-NC-9] Robert Pittenger R NC 9 2015-06-18 False K000363 Rep. Kline, John [R-MN-2] John Kline R MN 2 2015-06-24 False W000804 Rep. Wittman, Robert J. [R-VA-1] Robert Wittman R VA J. 1 2015-06-24 False B001284 Rep. Brooks, Susan W. [R-IN-5] Susan Brooks R IN W. 5 2015-07-07 False R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 2015-07-10 False H001053 Rep. Hartzler, Vicky [R-MO-4] Vicky Hartzler R MO 4 2015-07-10 False W000809 Rep. Womack, Steve [R-AR-3] Steve Womack R AR 3 2015-07-16 False D000616 Rep. DesJarlais, Scott [R-TN-4] Scott DesJarlais R TN 4 2015-07-16 False G000289 Rep. Goodlatte, Bob [R-VA-6] ROBERT GOODLATTE R VA W. 6 2015-07-16 False C001093 Rep. Collins, Doug [R-GA-9] Doug Collins R GA 9 2015-07-16 False W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 2015-07-20 False W000814 Rep. Weber, Randy K., Sr. [R-TX-14] Randy Weber R TX K. 14 2015-07-20 False M001180 Rep. McKinley, David B. [R-WV-1] David McKinley R WV B. 1 2015-07-29 False B001295 Rep. Bost, Mike [R-IL-12] Mike Bost R IL 12 2015-07-29 False G000377 Rep. Granger, Kay [R-TX-12] KAY GRANGER R TX 12 2015-07-29 False S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 2015-07-29 False S001189 Rep. Scott, Austin [R-GA-8] Austin Scott R GA 8 2015-07-29 False S001148 Rep. Simpson, Michael K. [R-ID-2] MICHAEL SIMPSON R ID K. 2 2015-09-08 False H001052 Rep. Harris, Andy [R-MD-1] Andy Harris R MD 1 2015-09-08 False B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2015-09-08 False K000378 Rep. Kinzinger, Adam [R-IL-16] Adam Kinzinger R IL 16 2015-09-08 False M001151 Rep. Murphy, Tim [R-PA-18] Tim Murphy R PA 18 2015-09-08 False D000619 Rep. Davis, Rodney [R-IL-13] Rodney Davis R IL 13 2015-09-08 False R000435 Rep. Ros-Lehtinen, Ileana [R-FL-27] ILEANA ROS-LEHTINEN R FL 27 2015-10-02 False C001105 Rep. Comstock, Barbara [R-VA-10] Barbara Comstock R VA 10 2015-10-02 False Y000066 Rep. Young, David [R-IA-3] David Young R IA 3 2015-10-02 False A000373 Rep. Ashford, Brad [D-NE-2] Brad Ashford D NE 2 2015-10-06 False L000564 Rep. Lamborn, Doug [R-CO-5] Doug Lamborn R CO 5 2015-10-06 False H001073 Rep. Hurd, Will [R-TX-23] Will Hurd R TX 23 2015-10-07 False M000689 Rep. Mica, John L. [R-FL-7] JOHN MICA R FL L. 7 2015-10-07 False R000583 Rep. Rooney, Thomas J. [R-FL-17] Thomas Rooney R FL J. 17 2015-10-07 False M001195 Rep. Mooney, Alexander X. [R-WV-2] Alexander Mooney R WV X. 2 2015-10-08 False G000546 Rep. Graves, Sam [R-MO-6] SAM GRAVES R MO 6 2015-10-22 False S000364 Rep. Shimkus, John [R-IL-15] JOHN SHIMKUS R IL M. 15 2015-10-22 False E000291 Rep. Ellmers, Renee L. [R-NC-2] Renee Ellmers R NC L. 2 2016-02-02 False M001187 Rep. Meadows, Mark [R-NC-11] Mark Meadows R NC 11 2016-02-02 False R000586 Rep. Renacci, James B. [R-OH-16] James Renacci R OH B. 16 2016-02-25 False L000585 Rep. LaHood, Darin [R-IL-18] Darin LaHood R IL 18 2016-02-25 False B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2016-02-25 False S000018 Rep. Salmon, Matt [R-AZ-5] MATT SALMON R AZ 5 2016-03-17 False H001071 Rep. Hice, Jody B. [R-GA-10] Jody Hice R GA B. 10 2016-04-12 False C001106 Rep. Costello, Ryan A. [R-PA-6] Ryan Costello R PA A. 6 2016-04-26 False K000362 Rep. King, Steve [R-IA-4] Steve King R IA 4 2016-04-28 False S000244 Rep. Sensenbrenner, F. James, Jr. [R-WI-5] F. SENSENBRENNER R WI JAMES 5 2016-05-10 False G000570 Rep. Guinta, Frank C. [R-NH-1] Frank Guinta R NH C. 1 2016-05-10 False P000594 Rep. Paulsen, Erik [R-MN-3] Erik Paulsen R MN 3 2016-05-10 False F000445 Rep. Forbes, J. Randy [R-VA-4] J. Forbes R VA Randy 4 2016-05-19 False R000589 Rep. Rigell, E. Scott [R-VA-2] E. Rigell R VA Scott 2 2016-05-24 False P000605 Rep. Perry, Scott [R-PA-4] Scott Perry R PA 4 2016-09-07 False Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Bank accounts, deposits, capital Banking and financial institutions regulation Business records Civil actions and liability Congressional oversight Consumer Financial Protection Bureau Consumer affairs Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Foreign and international banking Foreign property Government studies and investigations Housing finance and home ownership Right of privacy Sanctions Finance and Financial Sector 00 2015-03-04 Introduced in House 2015-04-07T14:04:24Z Community Lending Enhancement and Regulatory Relief Act of 2015 or the CLEARR Act of 2015

This bill amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in accordance with specified requirements, and (2) has not changed its policies and practices regarding disclosures of nonpublic personal information from those disclosed in the most recent disclosure sent to consumers.

The federal banking agencies are directed to study jointly the appropriate capital requirements for mortgage servicing assets for nonsystemic banking institutions. Mortgage servicing assets are those resulting from contracts to service loans secured by real estate, where such loans are owned by third parties. A nonsystemic banking institution is any banking institution other than one identified by the Financial Stability Board as a global systemically important bank.

Any regulatory implementation of either Basel III or National Credit Union Administration capital requirements about mortgage servicing assets for nonsystemic banking institutions is prohibited until six months after a report to Congress on the study.

The Truth in Lending Act (TILA) is amended to direct the Board of Governors of the Federal Reserve System (Federal Reserve Board) to exempt from certain escrow or impound requirements a loan secured by a first lien on a consumer's principal dwelling if the loan is held by a creditor with assets of $10 billion or less.

The Consumer Financial Protection Bureau must provide either exemptions to or adjustments from the mortgage loan servicing and escrow account administration requirements of the Real Estate Settlement Procedures Act of 1974 for servicers of 20,000 or fewer mortgage loans.

The TILA is also amended to exempt from property appraisal requirements a higher-risk mortgage loan of $250,000 or less if it appears on the loan creditor's balance sheet for at least three years.

The Federal Deposit Insurance Act is revised to direct federal banking agencies to issue regulations that allow a reduced reporting requirement for depository institutions meeting certain criteria when making the first and third report of condition for a year.

If a depository financial institution receives an order to request a funds transfer (entry) via an automated clearing house, it shall not be required to verify that the entry is not a prohibited monetary transaction if the originating depository financial institution has warranted its compliance with the sanctions programs administered by the Office of Foreign Assets Control.

The Federal Reserve Board must revise the Small Bank Holding Company Policy Statement on the Assessment of Financial and Managerial Factors to raise its consolidated asset threshold from $1 billion to $5 billion.

The TILA is again amended to create a safe harbor from lawsuit for creditors that are depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations.

A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if:

  • the creditor is a depository institution and has informed the mortgage originator that it intends to hold the loan on its balance sheet for the life of the loan, and
  • the mortgage originator informs the consumer that the creditor intends to do so.
]]> CLEARR Act of 2015 Display Title CLEARR Act of 2015 Official Title as Introduced To provide regulatory relief to community financial institutions, and for other purposes. Introduced in House IH Short Titles as Introduced CLEARR Act of 2015 Short Titles as Introduced Community Lending Enhancement and Regulatory Relief Act of 2015 Introduced in House 2015-03-04T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1233ih/xml/BILLS-114hr1233ih.xml 2015-03-04 Referred to the House Committee on Financial Services. 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.