US Congress Senate Bill 1002 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 24-11-1)
Status: Introduced on May 2 2017 - 25% progression, died in chamber
Action: 2017-06-15 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-106.
Text: Latest bill text (Introduced) [PDF]

CLEAR Relief Act of 2017 Community Lending Enhancement and Regulatory Relief Act of 2017 This bill amends the Sarbanes-Oxley Act of 2002 to exempt from specified reporting and attestation requirements a community bank with assets of $1 billion or less. The bill amends the Truth in Lending Act to exempt from certain escrow requirements and residential mortgage loan standards a residential mortgage loan held by a depository institution with assets of $10 billion or less. The bill further amends that Act, as well as the Consumer Protection Act of 2010, to exempt certain creditors from specified disclosure requirements. In addition, the bill amends the Bank Holding Company Act of 1956 to exempt from the Volcker Rule a depository institution with assets of $10 billion or less. (The Volcker Rule prohibits banking agencies from engaging in proprietary trading or entering into certain relationships with hedge funds and private-equity funds.)

CLEAR Relief Act of 2017 Community Lending Enhancement and Regulatory Relief Act of 2017

Sen. Jerry Moran [R-KS]	Sen. Jon Tester [D-MT]	Sen. Heidi Heitkamp [D-ND]	Sen. Thom Tillis [R-NC]
Sen. Joe Manchin [D-WV]	Sen. Joe Donnelly [D-IN]	Sen. Amy Klobuchar [D-MN]	Sen. Tim Scott [R-SC]
Sen. Steve Daines [R-MT]	Sen. David Perdue [R-GA]	Sen. Roy Blunt [R-MO]	Sen. James Inhofe [R-OK]
Sen. Chuck Grassley [R-IA]	Sen. Marco Rubio [R-FL]	Sen. John Barrasso [R-WY]	Sen. Deb Fischer [R-NE]
Sen. Michael Enzi [R-WY]	Sen. Michael Bennet [D-CO]	Sen. Dean Heller [R-NV]	Sen. Joni Ernst [R-IA]
Sen. Mike Rounds [R-SD]	Sen. Martin Heinrich [D-NM]	Sen. John Kennedy [R-LA]	Sen. Angus King [I-ME]
Sen. Jeff Flake [R-AZ]	Sen. Tom Udall [D-NM]	Sen. Pat Toomey [R-PA]	Sen. Shelley Capito [R-WV]
Sen. Jeanne Shaheen [D-NH]	Sen. Rob Portman [R-OH]	Sen. John Hoeven [R-ND]	Sen. James Risch [R-ID]
Sen. James Lankford [R-OK]	Sen. Mark Warner [D-VA]	Sen. Tom Cotton [R-AR]	Sen. Tim Kaine [D-VA]

Date	Chamber	Action
2017-06-15	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-106.
2017-06-08	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
2017-05-18	Senate	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-57.
2017-05-02	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SB2155 (Related) 2018-05-24 - Became Public Law No: 115-174.
HR905 (Similar To) 2018-05-22 - Motion to reconsider laid on the table Agreed to without objection.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/1002/all-info
Text	https://www.congress.gov/115/bills/s1002/BILLS-115s1002is.pdf