07/30/2015

ICBA-Advocated Regulatory Relief Bills Advance in Markup

The House Financial Services Committee advanced several ICBA-advocated bills to relieve community banks from excessive regulation. The panel approved six measures with provisions from ICBA’s Plan for Prosperity regulatory relief platform:

• H.R. 766 to protect financial institutions and their customers from Operation Choke Point,

• H.R. 1210 to give Qualified Mortgage treatment to loans held in portfolio by the originator,

• H.R. 1553 to provide an 18-month exam cycle for community banks with $1 billion or less in assets,

• H.R. 1737 to reform CFPB indirect auto financing guidance,

• H.R. 1941 to create a workable exam appeals process and common-sense standards for classifying loans, and

H.R. 3192 to provide a TILA-RESPA Integrated Disclosure safe harbor. Read ICBA Release.