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S. 331 (116th): Home Loan Quality Transparency Act of 2019

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The text of the bill below is as of Feb 5, 2019 (Introduced). The bill was not enacted into law.

II

116th CONGRESS

1st Session

S. 331

IN THE SENATE OF THE UNITED STATES

February 5, 2019

(for herself, Mr. Menendez, Mr. Durbin, Ms. Duckworth, Mr. Booker, Ms. Cantwell, Mrs. Feinstein, Mrs. Gillibrand, Ms. Harris, Ms. Warren, Mr. Wyden, Ms. Smith, and Mr. Van Hollen) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Home Mortgage Disclosure Act of 1975 to modify the exemptions from certain disclosure requirements.

1.

Short title

This Act may be cited as the Home Loan Quality Transparency Act of 2019.

2.

Exemption from certain disclosure requirements

(a)

In general

Section 304 of the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2803) is amended—

(1)

by striking subsection (i) and inserting the following:

(i)

Exemption from certain disclosure requirements

The requirements of paragraphs (4), (5), and (6) of subsection (b) shall not apply with respect to any depository institution described in section 303(3)(A) that has total assets, as of the most recent full fiscal year of the institution, of $30,000,000 or less.

; and

(2)

by striking subsection (o).

(b)

Technical and conforming amendment

Section 104 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (Public Law 115–174) is amended by striking subsection (b).