House Bill 2133
115th Congress(2017-2018)
CLEARR Act of 2017
Introduced
Introduced in House on Apr 25, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2133
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
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.
April 25, 2017
Sort by most recent
07/12/2017
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
04/25/2017
Referred to the House Committee on Financial Services.
04/25/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:35:57 PM