Financial Services and General Government Appropriations Act, 2018

3.0.0 2226 2023-01-11T13:35:54Z 2023-01-11T13:35:54Z House HR 2017-04-28 115 [Congressional Record Volume 163, Number 73 (Friday, April 28, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 2226.Congress has the power to enact this legislation pursuantto the following:(According to Article I, Section 8, Clause 3 of theConstitution: The Congress shall have power to enact thislegislation to regulate commerce with foreign nations, andamong the several states, and with the Indian tribes.)[Page H2972]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2018-03-07T17:49:19Z hsba00 Financial Services Committee House Standing Reported by 2018-02-23T15:57:21Z Markup by 2018-01-18T17:58:29Z Markup by 2018-01-17T17:58:17Z Referred to 2017-04-28T13:02:20Z H. Rept. 115-578 Financial Services and General Government Appropriations Act, 2018 115 3280 HR 2017-07-26 Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191. Related bill CRS Interior and Environment, Agriculture and Rural Development, Commerce, Justice, Science, Financial Services and General Government, Homeland Security, Labor, Health and Human Services, Education, State and Foreign Operations, Transportation, Housing and Urban Development, Defense, Military Construction and Veterans Affairs, Legislative Branch, and Energy and Water Development Appropriations Act, 2018 115 3354 HR 2017-09-27 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230. Related bill CRS Economic Growth, Regulatory Relief, and Consumer Protection Act 115 2155 S 2018-05-24 Became Public Law No: 115-174. Related bill CRS Portfolio Lending and Mortgage Access Act 115 2013 S 2017-10-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS Financial CHOICE Act of 2017 115 10 HR 2017-07-13 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108. Related bill CRS CLEARR Act of 2017 115 2133 HR 2017-07-12 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. Related bill CRS 2018-03-07 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2018-03-06 13:56:55 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2018-03-06 13:56:53 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1389-1390) Floor H37300 2 House floor actions 2018-03-06 13:56:53 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H1389-1390) Floor 8000 9 Library of Congress 2018-03-06 13:31:51 DEBATE - The House proceeded with forty minutes of debate on H.R. 2226. Floor H8D000 2 House floor actions 2018-03-06 13:31:50 Considered under suspension of the rules. (consideration: CR H1389-1393) Floor H30000 2 House floor actions 2018-03-06 13:31:33 Mr. Barr moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2018-02-23 Placed on the Union Calendar, Calendar No. 438. Calendars H12410 2 House floor actions U00438 2018-02-23 Reported (Amended) by the Committee on Financial Services. H. Rept. 115-578. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2018-02-23 Reported (Amended) by the Committee on Financial Services. H. Rept. 115-578. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2018-01-18 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 55 - 0. Committee 2018-01-18 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2018-01-17 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2017-04-28 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-04-28 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-04-28 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N A000369 Rep. Amodei, Mark E. [R-NV-2] Mark Amodei R NV E. 2 2017-04-28 True E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 2017-04-28 True H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2017-04-28 True H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2017-04-28 True J000292 Rep. Johnson, Bill [R-OH-6] Bill Johnson R OH 6 2017-04-28 True L000491 Rep. Lucas, Frank D. [R-OK-3] FRANK LUCAS R OK D. 3 2017-04-28 True L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2017-04-28 True M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2017-04-28 True M001189 Rep. Messer, Luke [R-IN-6] Luke Messer R IN 6 2017-04-28 True P000588 Rep. Pearce, Stevan [R-NM-2] Stevan Pearce R NM 2 2017-04-28 True P000606 Rep. Pittenger, Robert [R-NC-9] Robert Pittenger R NC 9 2017-04-28 True P000611 Rep. Poliquin, Bruce [R-ME-2] Bruce Poliquin R ME 2 2017-04-28 True R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 2017-04-28 True R000598 Rep. Rothfus, Keith J. [R-PA-12] Keith Rothfus R PA J. 12 2017-04-28 True S001192 Rep. Stewart, Chris [R-UT-2] Chris Stewart R UT 2 2017-04-28 True S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2017-04-28 True T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2017-04-28 True W000812 Rep. Wagner, Ann [R-MO-2] Ann Wagner R MO 2 2017-04-28 True W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 2017-04-28 True W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2017-04-28 True D000626 Rep. Davidson, Warren [R-OH-8] Warren Davidson R OH 8 2017-04-28 True K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2017-04-28 True L000583 Rep. Loudermilk, Barry [R-GA-11] Barry Loudermilk R GA 11 2017-04-28 True M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 2017-04-28 True P000599 Rep. Posey, Bill [R-FL-8] Bill Posey R FL 8 2017-04-28 True K000392 Rep. Kustoff, David [R-TN-8] David Kustoff R TN 8 2017-04-28 True H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 2017-04-28 True H001074 Rep. Hollingsworth, Trey [R-IN-9] Trey Hollingsworth R IN 9 2017-04-28 True D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 2017-04-28 True T000475 Rep. Trott, David A. [R-MI-11] David Trott R MI A. 11 2017-04-28 True B001294 Rep. Blum, Rod [R-IA-1] Rod Blum R IA 1 2017-04-28 True A000375 Rep. Arrington, Jodey C. [R-TX-19] Jodey Arrington R TX C. 19 2017-05-01 False T000478 Rep. Tenney, Claudia [R-NY-22] Claudia Tenney R NY 22 2017-05-01 False R000593 Rep. Ross, Dennis A. [R-FL-15] Dennis Ross R FL A. 15 2017-05-17 False K000362 Rep. King, Steve [R-IA-4] Steve King R IA 4 2017-06-21 False P000592 Rep. Poe, Ted [R-TX-2] Ted Poe R TX 2 2017-07-27 False C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2017-09-13 False W000809 Rep. Womack, Steve [R-AR-3] Steve Womack R AR 3 2017-09-13 False C001053 Rep. Cole, Tom [R-OK-4] Tom Cole R OK 4 2017-10-11 False B001296 Rep. Boyle, Brendan F. [D-PA-13] Brendan Boyle D PA F. 13 2017-10-11 False 2018-02-09T16:00:00Z H.R. 2226, Portfolio Lending and Mortgage Access Act https://www.cbo.gov/publication/53570 As ordered reported by the House Committee on Financial Services on January 18, 2018 Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Civil actions and liability Housing finance and home ownership Finance and Financial Sector

00 2017-04-28 Introduced in House 2017-08-16T18:29:14Z Portfolio Lending and Mortgage Access Act

This bill amends the Truth in Lending Act to modify provisions related to residential mortgage loans. In general, a creditor that is a depository institution shall not be subject to suit for violating specified ability-to-pay requirements with respect to a residential mortgage loan if: (1) the creditor has consistently held the loan on its balance sheet, and (2) prepayment penalties associated with the loan comply with specified limitations. Similarly, a mortgage originator shall not be subject to suit for such a violation if: (1) the creditor is a depository institution; and (2) the creditor informs the mortgage originator, which informs the consumer, that the creditor intends to hold the loan on its balance sheet for the life of the loan.

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17 2018-02-23 Reported to House with amendment(s) 2018-03-28T19:15:41Z Portfolio Lending and Mortgage Access Act

(Sec. 2) This bill amends the Truth in Lending Act to allow a depository institution or credit union with assets below a specified threshold to forgo certain ability-to-pay requirements regarding residential mortgage loans. Specifically, those requirements are waived if a loan: (1) is originated by and continuously retained by the institution, (2) complies with requirements regarding prepayment penalties and points and fees, and (3) does not have negative amortization or interest-only terms. Furthermore, for such requirements to be waived, the institution must consider and verify the debt, income, and financial resources of the consumer.

The bill also provides for circumstances in which such requirements shall be waived with respect to a loan that is transferred: (1) by reason of bankruptcy or failure of the originating institution, (2) to a similar institution, (3) in the event of a merger, or (4) to a wholly owned subsidiary of the institution.

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36 2018-03-06 Passed House amended 2018-04-02T14:55:17Z Portfolio Lending and Mortgage Access Act

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Portfolio Lending and Mortgage Access Act Display Title Portfolio Lending and Mortgage Access Act Official Title as Introduced To amend the Truth in Lending Act to provide a safe harbor from certain requirements related to qualified mortgages for residential mortgage loans held on an originating depository institution's portfolio, and for other purposes. Introduced in House IH Short Titles as Passed House Portfolio Lending and Mortgage Access Act H House Short Titles as Introduced Portfolio Lending and Mortgage Access Act Short Titles as Reported to House Portfolio Lending and Mortgage Access Act H House Referred in Senate 2018-03-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2226rfs/xml/BILLS-115hr2226rfs.xml Engrossed in House 2018-03-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2226eh/xml/BILLS-115hr2226eh.xml Reported in House 2018-02-23T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2226rh/xml/BILLS-115hr2226rh.xml Introduced in House 2017-04-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2226ih/xml/BILLS-115hr2226ih.xml 2018-03-07 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.