| Sen. Mary Landrieu (D-La.) introduced ICBA-backed legislation to provide qualified mortgage status for loans held in portfolio by community banks with $10 billion or less in assets. The legislation is similar to a provision in the ICBA-advocated Community Lending Enhancement and Regulatory (CLEAR) Relief Act (S. 1349). That bill, which is inspired by ICBA’s Plan for Prosperity regulatory relief platform, would provide QM status for community bank loans held in portfolio for three years. S. 1349 has 38 cosponsors, including Landrieu. ICBA supports the Landrieu measure and will advocate the legislation as part of its ongoing push for community bank regulatory relief. |