H.R. 2133

Introduced

CLEARR Act of 2017

Introduced 4/25/2017•115th Congress•House

Congress.gov

Latest Action

Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

7/12/2017 • House

Summary

Community Lending Enhancement and Regulatory Relief Act of 2017 or the CLEARR Act of 2017

This bill

exempts small banks from certain mortgage escrow requirements and from mandatory disclosures of loan servicing transfers;
exempts small mortgage loans from specified property appraisal requirements;
requires federal banking agencies to revise regulations regarding capital requirements for mortgage servicing assets;
modifies the authority of the Consumer Financial Protection Bureau (CFPB) over unfair, deceptive, or abusive acts;
limits the institutions over which the CFPB has a supervisory role;
limits prohibitions on discrimination under the Equal Credit Opportunity Act and the Fair Housing Act to intentional acts;
modifies certain mortgage loan recordkeeping and disclosure requirements;
limits the authority of a federal banking agency to request or order a deposit institution to terminate a customer account;
limits the liability of creditors and mortgage originators for violating certain ability-to-pay requirements; and
otherwise modifies provisions related to financial institutions.

Introduced in House • 4/25/2017

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Topics & Subjects

Policy Area: Finance and Financial Sector

Administrative law and regulatory proceduresAsiaBank accounts, deposits, capitalBanking and financial institutions regulationBusiness recordsCivil actions and liabilityCongressional oversightConsumer Financial Protection BureauConsumer affairsConsumer creditDepartment of the TreasuryEvidence and witnessesFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemForeign and international bankingGovernment information and archivesHousing finance and home ownershipIranJudicial procedure and administration