Community Lender Regulatory Relief and Consumer Protection Act of 2015

Summary

Community Lender Regulatory Relief and Consumer Protection Act of 2015 This bill amends the Truth in Lending Act with respect to the presumption of a mortgagor's ability to pay a qualified residential mortgage loan and the insured depository institutions or insured credit unions meeting specified criteria that may be its creditors. The Gramm-Leach-Bliley Act is amended to exempt from its requirement of annual written privacy notices certain financial institutions. The Federal Deposit Insurance Act is amended to: (1) increase from $500 million to $1 billion the size of certain small insured depository institutions eligible for an 18-month on-site examination cycle, and (2) require private deposit insurers of credit unions to give the Federal Housing Finance Agency copies of independent audit reports within 7 days after the audit is completed. The Federal Home Loan Bank Act is amended to require the treatment of a state-chartered credit union as an insured depository institution even though it is not federally insured if it has applied for membership in a federal home loan bank and has met specified conditions, including insurance application eligibility requirements under the Federal Credit Union Act. The Government Accountability Office must report to Congress on the adequacy of insurance reserves held by the private deposit insurer of privately insured credit unions, including the level of compliance with federal regulations regarding disclosure of a lack of federal deposit insurance. The Securities Exchange Act of 1934 is amended to extend securities registration requirements to savings and loan holding companies. The S.A.F.E. Mortgage Licensing Act of 2008 is amended to: establish a transitional period during which a state, while examining the applicant's submitted background information, may permit a covered registered loan originator applying for a state license as a loan originator to act as one under the supervision of a non-depository firm that engages in loan origination in that state, and grant confidentiality to information shared with state and federal regulatory officials with financial services industry oversight authority. The Consumer Financial Protection Act of 2010 is amended to cover specified sections of the Servicemembers Civil Relief Act as "enumerated consumer laws." The expiration of the Protecting Tenants at Foreclosure Act of 2009 is repealed, and the Act is restored and revived as it was in effect on December 31, 2014.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 June 2015

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 3 June 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 28 October 2015

   Committee

   Committee on Banking, Housing, and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection. Hearings held. With printed Hearing: S.Hrg. 114-133.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 3 June 2015 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 3 June 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 3 June 2015

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 3 June 2015

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Reed, Jack [D-RI] · D · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Menendez, Robert [D-NJ] · D · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Heitkamp, Heidi [D-ND] · D · Sponsor
• Sen. Donnelly, Joe [D-IN] · D · Sponsor
• Sen. Coons, Christopher A. [D-DE] · D · Cosponsor
• Sen. Baldwin, Tammy [D-WI] · D · Cosponsor
• Sen. Franken, Al [D-MN] · D · Cosponsor
• Sen. Klobuchar, Amy [D-MN] · D · Cosponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Capital Access for Small Community Financial Institutions Act of 2015
• related to → Holding Company Registration Threshold Equalization Act of 2015
• related to → Permanently Protecting Tenants at Foreclosure Act of 2015
• related to → A bill to amend the Federal Home Loan Bank Act with respect to membership eligibility of certain institutions.
• related to → Financial Regulatory Improvement Act of 2015
• related to → Military Consumer Protection Act
• related to → Community Lender Regulatory Relief and Consumer Protection Act of 2015