{
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      "id": 581223,
      "date": "2018-05-17",
      "retrieved": "2018-05-22T13:12:53.486543",
      "title": "Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and House Legislation: Common Issue Areas",
      "summary": "The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) passed the Senate on March 14, 2018. The bill generally aims to provide regulatory relief to banks, relax mortgage lending and capital formation rules, and provide additional consumer financial protections. The bill addresses a number of policy issues that are also addressed by the Financial CHOICE Act (H.R. 10), which was passed by the House on June 8, 2017, and other House bills that have been passed by the House or otherwise seen legislative action in the 115th Congress. The table below matches the policy issues covered in sections of S. 2155 with sections of H.R. 10 and those other House bills. Note, however, that while the issues addressed in the various pieces of legislation are similar, how the bills address them may differ to varying degrees, some quite significantly.\nFor a more detailed examination of S. 2155, see CRS Report R45073, Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and Selected Policy Issues, coordinated by David W. Perkins.\nFor a more detailed examination of H.R. 10, see CRS Report R44839, The Financial CHOICE Act in the 115th Congress: Selected Policy Issues, by Marc Labonte et al. \nPolicy Issues Addressed in S. 2155 and Selected House Legislation\nPolicy IssueS. 2155 SectionH.R. 10 SectionOther House bills\n(status in parentheses)\nAdditional criteria for mortgages to receive \u201cQualified Mortgage\u201d status101516H.R. 2226 (Passed by House, voice) \nH.R. 2133, Sec. 15 (Hearings held)\nCharitable donations of home appraisals\n102\n591\nH.R. 2255, Title I (Passed by House, voice)\nAppraisal requirement exemptions for rural or low value mortgages103\nH.R. 2133, Sec. 3 (Hearings held)\nH.R. 3221 (Ord. to be Rept., 32-26)\nExemptions from certain HMDA reporting requirements104576H.R. 2954 (Passed by House, 243-184)\nH.R. 2133, Sec. 8 (Hearings held)\nLoan originator grace period during license changes106556H.R. 3978, Title V (Passed by House, 271-145)\nH.R. 2948 (Rept. by Comm., 60-0)\nMortgage rule exemptions for certain manufactured homes retailers\n107\n501\nH.R. 1699 (Passed by House, 256-163)\nEscrow requirements for mortgages exemptions108531H.R. 3971 (Passed by House, 294-129)\nH.R. 2133, Sec. 2 (Hearings held)\nMortgage waiting period requirement exemptions109\nH.R. 2133, Sec. 12 (Hearings held)\nBank leverage ratio criteria for exemption from other ratios and rules201601-602\n\nReciprocal deposits restrictions exemptions202\nH.R. 2133, Sec. 14 (Hearings held)\nFederal Reserve Small BHC Policy Statement asset threshold increase\n203\n526\nH.R. 4771 (Passed by House, 280-139)\nH.R. 2133, Sec. 4 (Hearings held)\nVolcker Rule trading restriction exemptions204901H.R. 4790 (Passed by House, 300-104)\n\nVolcker Rule naming restriction exemptions\n205\n\nH.R. 3093 (Passed by House, voice)\nH.R. 4790 (Passed by House, 300-104)\n\nShortened \u201ccall report\u201d in bank financial reporting requirements\n206\n566\nH.R. 4725 (Passed by House, voice)\nAlternative to charter changes for federal thrifts seeking to increase certain loan types\n207\n551\nH.R. 1426 (Passed by House, voice)\nDeposit availability time requirements in U.S. territories208521\n\nReduced examination frequency for certain small banks210\nH.R. 5076 (Rept. by Comm., 60-0)\n\nInternational insurance standards oversight\n211\n1101-1102\nH.R. 4537 (Rept. by Comm. 56-4)\nPublic disclosure of NCUA budgets212541\n\nScanned images of ID cards and online banking213\nH.R. 1457 (Passed by House, 397-8)\nHigh volatility commercial real estate exposures in capital requirements\n214\n\nH.R 2148 (Passed by House, voice)\n\nWait period before including veterans\u2019 medical debt in credit reports\n302\n\nH.R. 2683 (Rept. by Comm., 59-0)\nWhistleblower protection for identifying cases of defrauding seniors303491-493H.R. 2255, Title III (Passed by House, voice)\nH.R. 3758 (Rept. by Comm., 60-0)\nAlterations to the Family Self-Sufficiency program306\nH.R. 4258 (Passed by House, 412-5)\n\nEnhanced prudential regulation regime alterations\n401\n\nH.R. 3312 (Passed by House, 288-130) \nH.R. 4292 (Passed by House, 414-0)\nH.R. 4293 (Passed by House, 245 -174)\nSLR central bank deposit exemption for custodial banks402\nH.R. 2121 (Rept. by Comm., 60-0)\nTreatment of municipal debt under LCR403\nH.R. 1624 (Passed by House, voice)\nNational securities exchange definition in exemption from state registration501496H.R. 4546 (Rept. by Comm., 46-14)\nH.R. 3978, Title IV (Passed by House, 271-145)\n\nExemptions from certain registration and disclosure requirements for certain venture capital funds\n504\n471\nH.R. 1219 (Passed by House, 417-3)\n\nFuture SEC assessment offset after overpayment\n505\n416\nH.R. 1257 (Rept. by Comm., 59-0)\n\nApplication of certain securities requirements to funds located in U.S. territories\n506\n\nH.R. 1366 (Passed by House, voice)\n\nCompensation disclosure requirement exemption \n507\n406\nH.R. 1343 (Passed by House, 331-87)\n\nExpanded Regulation A+ access to reporting companies\n508\n\nH.R. 2864 (Passed by House, 403-3)\n\nStreamlined closed-end fund registration\n509\n499A\nH.R. 4279 (Passed by House, 418-2)\n\nSource: Congressional Research Service.\nNotes: The table identifies bills that have passed the House or have otherwise seen legislative action as of May 14, 2018. \u201cRept. by Comm.\u201d refers to the House Financial Services Committee unless otherwise noted and includes bills that were ordered to be reported. The table does not include sections of the House appropriations bill (H.R. 3354) that passed the House on September 14, 2017, some sections of which do address certain policy issues listed in the table.\nIn addition to those listed above, a number of House Financial Services Committee bills have been passed by the House in the 115th Congress that are also generally aimed at providing regulatory relief to banks, relaxing mortgage lending and capital formation rules, or providing additional financial consumer protection, but are not related to issue areas addressed by S. 2155.",
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    {
      "source": "EveryCRSReport.com",
      "id": 579641,
      "date": "2018-03-26",
      "retrieved": "2018-04-03T13:32:05.945072",
      "title": "Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and House Legislation: Common Issue Areas",
      "summary": "The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155), sponsored by the Senate Committee on Banking, Housing, and Urban Affairs Chairman Mike Crapo, passed the Senate on March 14, 2018. The bill generally aims to provide regulatory relief to banks, relax mortgage lending and capital formation rules, and provide additional consumer financial protections. The bill addresses a number of policy issues that are also addressed by the Financial CHOICE Act (H.R. 10), which was passed by the House on June 8, 2017, and other House bills that have been passed by the House or otherwise seen legislative action in the 115th Congress. The table below matches the policy issues covered in sections of S. 2155 with sections of H.R. 10 and those other House bills. Note, however, that while the issues addressed in the various pieces of legislation are similar, how the bills address them may differ to varying degrees, some quite significantly.\nFor a more detailed examination of S. 2155, see CRS Report R45073, Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and Selected Policy Issues, coordinated by David W. Perkins.\nFor a more detailed examination of H.R. 10, see CRS Report R44839, The Financial CHOICE Act in the 115th Congress: Selected Policy Issues, by Marc Labonte et al. \nPolicy Issues Addressed in S. 2155 and Selected House Legislation\nPolicy IssueS. 2155 SectionH.R. 10 SectionOther House bills\n(status in parentheses)\nAdditional criteria for mortgages to receive \u201cQualified Mortgage\u201d status\n101\n516\nH.R. 2226 (Passed by House, voice) \nH.R. 2133, Sec 15 (Hearings held)\nCharitable donations of home appraisals102591H.R. 2255, Title I (Passed by House, voice)\nAppraisal requirement exemptions for rural or low value mortgages103\nH.R. 2133, Sec 3 (Hearings held)\nH.R. 3221 (Ord. to be Rept., 32-26)\nExemptions from certain HMDA reporting requirements104576H.R. 2954 (Passed by House, 243-184)\nH.R. 2133, Sec 8 (Hearings held)\nLoan originator grace period during license changes106\n556\nH.R. 3978, Title V (Passed by House, 271-145)\nH.R. 2948 (Rept. by Comm., 60-0)\nMortgage rule exemptions for certain manufactured homes retailers107501H.R. 1699 (Passed by House, 256-163)\nEscrow requirements for mortgages exemptions108531H.R. 3971 (Passed by House, 294-129)\nH.R. 2133, Sec 2 (Hearings held)\nMortgage waiting period requirement exemptions109\nH.R. 2133, Sec 12 (Hearings held)\nBank leverage ratio criteria for exemption from other ratios and rules201601-602\n\nReciprocal deposits restrictions exemptions\n202\n\nH.R. 2133, Sec 14 (Hearings held)\nFederal Reserve Small BHC Policy Statement asset threshold increase203526H.R. 4771 (Passed by House, 280-139)\nH.R. 2133, Sec 4 (Hearings held)\nVolcker Rule trading restriction exemptions204901H.R. 4790 (Rept. by Comm., 50-10)\n\nVolcker Rule naming restriction exemptions\n205\n\nH.R. 3093 (Passed by House, voice)\nH.R. 4790 (Rept. by Comm., 50-10)\n\nShortened \u201ccall report\u201d in bank financial reporting requirements\n206\n566\nH.R. 4725 (Passed by House, voice)\n\nAlternative to charter changes for federal thrifts seeking to increase certain loan types\n207\n551\nH.R. 1426 (Passed by House, voice)\nDeposit availability time requirements in U.S. territories208521\n\nReduced examination frequency for certain small banks210\nH.R. 5076 (Rept. by Comm., 60-0)\n\nInternational insurance standards oversight\n211\n1101-1102\nH.R. 4537 (Rept. by Comm. 56-4)\nPublic disclosure of NCUA budgets212541\n\nScanned images of ID cards and online banking213\nH.R. 1457 (Passed by House, 397-8 )\n\nHigh volatility commercial real estate exposures in capital requirements\n214\n\nH.R 2148 (Passed by House, voice)\n\nWait period before including veterans\u2019 medical debt in credit reports\n302\n\nH.R. 2683 (Rept. by Comm., 59-0)\nWhistleblower protection for identifying cases of defrauding seniors303491-493H.R. 2255, Title III (Passed by House, voice)\nH.R. 3758 (Rept. by Comm., 60-0)\nAlterations to the Family Self-Sufficiency program306\nH.R. 4258 (Passed by House, 412-5)\n\nEnhanced prudential regulation regime alterations\n401\n\nH.R. 3312 (Passed by House, 288-130) \nH.R. 4292 (Passed by House, 414-0)\nH.R. 4293 (Rept. by Comm., 38-21)\nSLR central bank deposit exemption for custodial banks402\nH.R. 2121 (Rept. by Comm., 60-0)\nTreatment of municipal debt under LCR403\nH.R. 1624 (Passed by House, voice)\nNational securities exchange definition in exemption from state registration501496H.R. 4546 (Rept. by Comm., 46-14)\nH.R. 3978, Title IV (Passed by House, 271-145)\n\nExemptions from certain registration and disclosure requirements for certain venture capital funds\n504\n471\nH.R. 1219 (Passed by House, 417-3)\n\nFuture SEC assessment offset after overpayment\n505\n416\nH.R. 1257 (Rept. by Comm., 59-0)\n\nApplication of certain securities requirements to funds located in U.S. territories\n506\n\nH.R. 1366 (Passed by House, voice)\n\nCompensation disclosure requirement exemption \n507\n406\nH.R. 1343 (Passed by House, 331-87)\n\nExpanded Regulation A+ access to reporting companies\n508\n\nH.R. 2864 (Passed by House, 403-3)\n\nStreamlined closed-end fund registration\n509\n499A\nH.R. 4279 (Passed by House, 418-2)\n\nSource: Congressional Research Service.\nNotes: The table identifies bills that have passed the House or have otherwise seen legislative action as of March 26, 2018. \u201cRept. by Comm.\u201d refers to the House Financial Services Committee unless otherwise noted and includes bills that were ordered to be reported. The table does not include sections of the House appropriations bill (H.R. 3354) that passed the House on September 14, 2017, some sections of which do address certain policy issues listed in the table.\nIn addition to those listed above, a number of House Financial Services Committee bills have been passed by the House in the 115th Congress that are also generally aimed at providing regulatory relief to banks, relaxing mortgage lending and capital formation rules, or providing additional financial consumer protection, but are not related to issue areas addressed by S. 2155. Some observers believe that the House will seek to attach some of these pieces of legislation\u2014through either formal or informal conference\u2014before voting on the Senate bill. House Financial Services Chairman Jeb Hensarling has also indicated he wants certain House bills added to S. 2155. Certain Senators reportedly oppose that idea.",
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