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Thursday, June 19, 2014

ABA Seeks Co-Sponsors on High Priority Reg Relief Bills

ABA is asking bankers to urge their House members to co-sponsor three regulatory relief bills that recently passed the House Financial Services Committee:

  • Portfolio lending. This alert urges co-sponsorship for H.R. 2673, which would deem all loans held in portfolio as Qualified Mortgages.

  • Mortgage relief. This alert urges co-sponsorship 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 co-sponsorship for H.R. 4466, which would require regulators to review and reconcile conflicting regulations before finalizing rulemakings.


  • ABA EVP James Ballentine said:

    Thanks to a strong initial grassroots effort, these bills are on Congress’ radar screen. But to get them to a vote on the House floor, we need more co-sponsors from both parties. The best way to get there is for bankers to share the real-world impact of these bills in their communities.

    Bankers can click on the links above to use ABA’s automated system to send customized letters urging their members to co-sponsor the bills.

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