CUNA wrote in support of a bill Monday containing several regulatory relief provisions related to mortgage lending. The Community Lending Enhancement and Regulatory Relief (CLEARR) Act of 2017 (H.R. 2133) was introduced by Rep. Blaine Luetkemeyer (R-Mo.), chair of the House Financial Services subcommittee on financial institutions and consumer credit.
“We believe your legislation is a good first step toward regulatory relief for credit unions and other community-based financial institutions,” wrote CUNA President/CEO Jim Nussle. “There is no question that if the legislation was enacted, credit unions would realize a meaningful reduction in their regulatory burden.”
Specifically, the CLEARR Act: