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Friday, May 30, 2014

ABA Urges Action on Three Reg Relief Bills

ABA is asking bankers to urge their House members to support three regulatory relief bills that recently passed the House Financial Services Committee, including two championed by ABA and the state bankers associations through their joint Regulatory Relief Task Force:

  • Portfolio lending. This alert urges support for H.R. 2673, which would deem all loans held in portfolio as Qualified Mortgages.
  • Mortgage relief. This alert urges support for H.R. 4521, which would exempt lenders with less than $10 billion in assets from the Dodd-Frank Act's escrow requirements and servicers handling fewer than 20,000 loans from the servicing rule.
  • Regulatory clarity. This alert urges support for H.R. 4466, which would require regulators to review and reconcile conflicting regulations before finalizing rulemakings.


ABA EVP James Ballentine said:
ABA and the state associations worked together to move these bills, which are our best shot for meaningful regulatory reform this year. But to get them to a vote on the House floor, we need bankers to write their members of Congress and send a powerful grassroots message.

Bankers can click on the links above to use ABA’s automated system to send customized letters.

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