House Passes Several ABA-Backed Reg Reform Bills

The House today passed three regulatory reforms supported by the American Bankers Association. H.R. 2226, which would provide a Qualified Mortgage safe harbor for mortgages held in portfolio by  banks with less than $10 billion in assets, was passed by a voice vote. Also passed by a voice vote was H.R. 4725, a bill to reduce the regulatory reporting burden on community banks.

The House passed H.R. 4607, a measure that would improve the Economic Growth and Regulatory Paperwork Reduction Act regulatory review process, by a bipartisan vote of 264 to 143. ABA yesterday wrote to House lawmakers in support of the bills.