[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4648 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 4648

  To delay the effective date of certain regulations relating to home 
mortgage disclosures, to suspend certain data sharing requirements, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 14, 2017

Mr. Emmer (for himself and Mr. Hultgren) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To delay the effective date of certain regulations relating to home 
mortgage disclosures, to suspend certain data sharing requirements, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Home Mortgage Reporting Relief Act 
of 2017''.

SEC. 2. DELAYED EFFECTIVE DATE OF AMENDMENTS TO REGULATION RELATING TO 
              HOME MORTGAGE DISCLOSURE.

    (a) Compilation of Reportable Data.--Compliance with the amendments 
made to section 1003.4 of title 12, Code of Federal Regulations, by the 
final rule issued by the Bureau of Consumer Financial Protection 
entitled ``Home Mortgage Disclosure (Regulation C)'' (80 Fed. Reg. 
66310 (October 28, 2015)) and the final rule issued by the Bureau of 
Consumer Financial Protection entitled ``Home Mortgage Disclosure 
(Regulation C)'' (82 Fed. Reg. 43132 (September 13, 2017)) prior to 
January 1, 2019, may not serve as the basis of a supervisory or 
enforcement action taken against any depository institution, and no 
suit may be filed against any depository institution for a violation of 
such requirements occurring before such date.
    (b) Reporting.--Compliance with the amendments made to section 
1003.5 of title 12, Code of Federal Regulations, by the final rules 
described in subsection (a) prior to January 1, 2020, may not serve as 
the basis of a supervisory or enforcement action taken against any 
depository institution, and no suit may be filed against any depository 
institution for a violation of such requirements occurring before such 
date.

SEC. 3. SUSPENSION OF DATA SHARING REQUIREMENTS.

    Notwithstanding any other provision of law, including the final 
rules described in section 1--
            (1) depository institutions shall not be required to 
        publish, disclose, or otherwise make available to the public, 
        pursuant to the Home Mortgage Disclosure Act of 1975 (or 
        regulations issued under such Act) any data, other than data 
        that will be compiled in aggregate form as described under 
        section 310 of such Act, that was not required to be published, 
        disclosed, or otherwise made available pursuant to such Act (or 
        regulations issued under such Act) on the day before the date 
        of the enactment of the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act; and
            (2) the Bureau of Consumer Financial Protection and the 
        Financial Institutions Examination Council shall not publish, 
        disclose, or otherwise make available to the public any data 
        received from depository institutions pursuant to the Home 
        Mortgage Disclosure Act of 1975 (or regulations issued under 
        such Act), other than data that will be compiled in aggregate 
        form as described under section 310 of such Act, that was not 
        required to be reported by depository institutions on the day 
        before the date of the enactment of the Dodd-Frank Wall Street 
        Reform and Consumer Protection Act.

SEC. 4. DEPOSITORY INSTITUTION DEFINED.

    For purposes of this Act, the term ``depository institution'' has 
the meaning given such term under section 303 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2802).
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