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U.S. House Passes Two Regulatory Relief Bills
Wednesday, March 7, 2018 6:40 AM

The House voted Tuesday to pass two regulatory relief bills, which Cornerstone supports. The bills include:

  • H.R. 2226, the Portfolio Lending and Mortgage Access Act would treat residential mortgages held in portfolio by the original creditor as qualified mortgages. The bill passed by a voice vote.
  • H.R. 4607, the Comprehensive Regulatory Review Act, would amend the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to require the Federal Financial Institutions Examination Council and federal financial regulators, including the CFPB and NCUA, to review all existing regulations once every five years. NCUA currently voluntarily reviews its regulations every three years. This bill passed 264-143.

Both bills now await action by the Senate.