Nation: Bill to Reform Dodd-Frank Introduced

Congressman Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, introduced the “Financial Choice Act” to reduce regulatory burdens and expand credit access to consumers and businesses.  NAR sent a letter to the Committee in support of several provisions in the bill including a revision to the Truth in Lending Act’s (TILA) definition of “points and fees” to allow for greater consumer choice in mortgage and settlement services under the Ability to Repay/Qualified Mortgage (QM) rule.

This 500-page legislation makes a number of reforms to the Dodd-Frank Act aimed to increase transparency, accountability, and fairness within the federal regulatory agencies. It also represents a significant shift in the Republican policy position regarding the Dodd-Frank Act which has generally called for a full repeal of the legislation.

This entry was posted in Gov't Affairs, Govt - Nation and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s