H. R. 2133, CLEARR Act of 2017

Bill Summary:

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)