The House is scheduled to consider two CUNA-backed regulatory relief bill this week, and CUNA is also engaged in several hearings on Capitol Hill, in addition to its strong efforts in support of S. 2155.
Both the Comprehensive Regulatory Review Act (H.R. 4607) and the Portfolio Lending and Mortgage Access Act (H.R. 2226) have CUNA’s support and align with the principles of CUNA’s Campaign for Common-Sense Regulation.
H.R. 4607 would amend the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to require the Federal Financial Institutions Examination Council and federal financial regulators, including the CFPB and NCUA, to review all existing regulations once every five years. NCUA currently voluntarily reviews its regulations every three years, which CUNA supports.
H.R. 2226 would treat residential mortgages held in portfolio by the original creditor as qualified mortgages.
Hearings CUNA is engaged with this week include: