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A bill to enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

USA115th CongressS-1002| Senate 
| Updated: 6/15/2017
Jerry Moran

Jerry Moran

Republican Senator

Kansas

Cosponsors (35)
Joni Ernst (Republican)Dean Heller (Republican)Jeanne Shaheen (Democratic)Tom Udall (Democratic)Thomas Tillis (Republican)David Perdue (Republican)James E. Risch (Republican)Jeff Flake (Republican)Joe Donnelly (Democratic)Mark R. Warner (Democratic)Angus S. King (Independent)Tom Cotton (Republican)Amy Klobuchar (Democratic)Heidi Heitkamp (Democratic)James M. Inhofe (Republican)Michael B. Enzi (Republican)Roy Blunt (Republican)Tim Kaine (Democratic)Joe Manchin (Independent)Mike Rounds (Republican)Tim Scott (Republican)James Lankford (Republican)Jon Tester (Democratic)John Kennedy (Republican)Deb Fischer (Republican)John Barrasso (Republican)Martin Heinrich (Democratic)Michael F. Bennet (Democratic)Chuck Grassley (Republican)Marco Rubio (Republican)Patrick Toomey (Republican)Rob Portman (Republican)Steve Daines (Republican)John Hoeven (Republican)Shelley Moore Capito (Republican)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Community Lending Enhancement and Regulatory Relief Act of 2017 or the CLEAR 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.)
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Timeline
May 2, 2017
Introduced in Senate
May 2, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 18, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-57.
Jun 8, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
Jun 15, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-106.
  • May 2, 2017
    Introduced in Senate


  • May 2, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • May 18, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-57.


  • June 8, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.


  • June 15, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-106.

Finance and Financial Sector

Related Bills

  • S 115-2155: Economic Growth, Regulatory Relief, and Consumer Protection Act
Accounting and auditingAdministrative law and regulatory proceduresBanking and financial institutions regulationConsumer creditConsumer Financial Protection BureauCredit and credit marketsHousing finance and home ownership

A bill to enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.

USA115th CongressS-1002| Senate 
| Updated: 6/15/2017
Community Lending Enhancement and Regulatory Relief Act of 2017 or the CLEAR 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.)
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 2, 2017
Introduced in Senate
May 2, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 18, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-57.
Jun 8, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.
Jun 15, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-106.
  • May 2, 2017
    Introduced in Senate


  • May 2, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • May 18, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-57.


  • June 8, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-81.


  • June 15, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-106.
Jerry Moran

Jerry Moran

Republican Senator

Kansas

Cosponsors (35)
Joni Ernst (Republican)Dean Heller (Republican)Jeanne Shaheen (Democratic)Tom Udall (Democratic)Thomas Tillis (Republican)David Perdue (Republican)James E. Risch (Republican)Jeff Flake (Republican)Joe Donnelly (Democratic)Mark R. Warner (Democratic)Angus S. King (Independent)Tom Cotton (Republican)Amy Klobuchar (Democratic)Heidi Heitkamp (Democratic)James M. Inhofe (Republican)Michael B. Enzi (Republican)Roy Blunt (Republican)Tim Kaine (Democratic)Joe Manchin (Independent)Mike Rounds (Republican)Tim Scott (Republican)James Lankford (Republican)Jon Tester (Democratic)John Kennedy (Republican)Deb Fischer (Republican)John Barrasso (Republican)Martin Heinrich (Democratic)Michael F. Bennet (Democratic)Chuck Grassley (Republican)Marco Rubio (Republican)Patrick Toomey (Republican)Rob Portman (Republican)Steve Daines (Republican)John Hoeven (Republican)Shelley Moore Capito (Republican)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • S 115-2155: Economic Growth, Regulatory Relief, and Consumer Protection Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Accounting and auditingAdministrative law and regulatory proceduresBanking and financial institutions regulationConsumer creditConsumer Financial Protection BureauCredit and credit marketsHousing finance and home ownership