CLEAR Relief Act of 2015

Summary

Community Lending Enhancement and Regulatory Relief Act of 2015 or the CLEAR Relief Act of 2015 Amends the Sarbanes-Oxley Act of 2002 to exempt from its rules regarding management assessment of internal controls the following institutions which, as of the end of the preceding fiscal year, had total consolidated assets of $1 billion or less (adjusted annually according to a certain formula): (1) a bank holding company, (2) a savings and loan holding company, or (3) an insured depository institution. Amends the Truth in Lending Act (TILA) to require the Consumer Financial Protection Bureau (CFPB) to exempt from requirements governing escrow or impound accounts affecting certain consumer credit transactions any loans secured by a first lien on the principal dwelling of a consumer, if such loans are held by an insured depository institution having assets of $10 billion or less. Includes as a qualified mortgage, with respect to the presumption that a qualified residential mortgage loan meets certain minimum standards, any mortgage loan originated and retained in portfolio for at least three years by a depository institution having less than $10 billion in total assets. Requires the CFPB (which currently is merely authorized) to provide by regulation that a "qualified mortgage" includes a balloon loan extended by an insured depository institution that: (1) originates and retains balloon loans in portfolio for at least three years, and (2) together with its affiliates has less than $10 billion in total consolidated assets.

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

Timeline

1. 19 March 2015

   Introduced

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

   Source: IntroReferral

2. 19 March 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 16 April 2015

   Committee

   Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-49.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 19 March 2015 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 March 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 March 2015

  ViewDownloadOpen 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.

• Introduced in Senate

  summary · EN · 19 March 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. Moran, Jerry [R-KS] · R · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Inhofe, James M. [R-OK] · R · Sponsor
• Sen. Portman, Rob [R-OH] · R · Sponsor
• Sen. Barrasso, John [R-WY] · R · Sponsor
• Sen. Heitkamp, Heidi [D-ND] · D · Sponsor
• Sen. Cotton, Tom [R-AR] · R · Cosponsor
• Sen. Blunt, Roy [R-MO] · R · Cosponsor
• Sen. Enzi, Michael B. [R-WY] · R · Cosponsor
• Sen. Roberts, Pat [R-KS] · R · Cosponsor
• Sen. Rounds, Mike [R-SD] · R · Cosponsor
• Sen. Donnelly, Joe [D-IN] · D · Cosponsor
• Sen. Ayotte, Kelly [R-NH] · R · Cosponsor
• Sen. Grassley, Chuck [R-IA] · R · Cosponsor
• Sen. Heinrich, Martin [D-NM] · D · Cosponsor
• Sen. Toomey, Patrick [R-PA] · R · Cosponsor
• Sen. Boozman, John [R-AR] · R · Cosponsor
• Sen. Lankford, James [R-OK] · R · Cosponsor
• Sen. Kirk, Mark Steven [R-IL] · R · Cosponsor
• Sen. Heller, Dean [R-NV] · R · Cosponsor
• Sen. Perdue, David [R-GA] · R · Cosponsor
• Sen. Manchin, Joe, III [D-WV] · D · Cosponsor
• Sen. Thune, John [R-SD] · R · Cosponsor
• Sen. Crapo, Mike [R-ID] · R · Cosponsor
• Sen. Risch, James E. [R-ID] · R · Cosponsor
• Sen. Gardner, Cory [R-CO] · R · Cosponsor
• Sen. Udall, Tom [D-NM] · D · Cosponsor
• Sen. Capito, Shelley Moore [R-WV] · R · Cosponsor
• Sen. Fischer, Deb [R-NE] · R · Cosponsor
• Sen. Klobuchar, Amy [D-MN] · D · Cosponsor
• Sen. Hoeven, John [R-ND] · R · Cosponsor
• Sen. Scott, Tim [R-SC] · R · Cosponsor
• Sen. Isakson, Johnny [R-GA] · R · Cosponsor
• Sen. Daines, Steve [R-MT] · R · Cosponsor
• Sen. Sasse, Ben [R-NE] · R · Cosponsor
• Sen. Shaheen, Jeanne [D-NH] · D · Cosponsor
• Sen. Bennet, Michael F. [D-CO] · D · Cosponsor
• Sen. Johnson, Ron [R-WI] · R · Cosponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Flake, Jeff [R-AZ] · R · Cosponsor
• Sen. Rubio, Marco [R-FL] · R · Cosponsor
• · ssbk00 · Standing

Related records

No cross-record relationships stored yet.