CLEAR Relief Act of 2017

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R MoranSponsor

35 cosponsors · 11 D, 23 R, 1 I

3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

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

What it does: CRS summary · Introduced in Senate · May 2, 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.)

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: CLEAR Relief Act of 2017

Also known as: Community Lending Enhancement and Regulatory Relief Act of 2017

Latest action (Jun 15, 2017): Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-106.

Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 2, 2017

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.