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Regulatory Relief Bills Set for Markup Today in the U.S. House
Tuesday, July 28, 2015 6:50 AM

Four CUNA-supported regulatory relief bills are part of a scheduled markup by the U.S. House Financial Services Committee today. The markup, which will address a total of 14 bills, is scheduled to start at 1 p.m. (CT) and will continue into subsequent days if needed.

  • H.R. 766, the Financial Institution Consumer Protection Act of 2015, seeks to end the Department of Justice’s Operation Choke Point. Operation Choke Point investigates whether financial institutions and payment-processing companies have enabled fraudulent activity;
     
  • H.R. 1210, the Portfolio Lending and Mortgage Access Act, would treat mortgages held in portfolio at credit unions and other mortgage lenders as qualified mortgages for the purposes of the Consumer Financial Protection Bureau’s mortgage lending rules;
     
  • H.R. 1941, the Financial Institutions Examination Fairness and Reform Act, would create an independent ombudsman and an independent examination appeals process; and
     
  • H.R. 3192, just introduced July 23 by Rep. French Hill (R-AR), would provide a temporary safe harbor from enforcement of the Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosure rule.

The full House Financial Services Committee will also host a hearing Tuesday morning on the Dodd-Frank Act titled “The Dodd-Frank Act Five Years Later: Are We More Prosperous?” which will begin at 9 a.m. (CT).