This bill provides regulatory relief to community financial institutions. Changes are proposed to the Fair Housing Act to require intent to discriminate. A change in the Truth in Lending Act would exempt “small creditors” from some loan requirements, but a small creditor is defined as a creditor with assets of $50 billion or less. Those institutions that annually service less than 30,000 mortgage loans would be exempt from the mortgage reporting requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Mortgage servicing and appraisal rules would also be amended.
Bill Sponsor: Blaine Leutkemeyer (R-MO)