Summary: H.R.2133 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.2133. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (04/25/2017)

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.