H.R. 2133 — CLEARR Act of 2017

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.

2017-04-25
Introduced in House
2017-04-25
Introduced in House
2017-04-25
Referred to the House Committee on Financial Services.
2017-07-12
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.