The House today voted 358-32 to pass a bipartisan housing bill that contains several provisions related to banking. The legislation now heads to President Trump, who is expected to sign it into law as early as this week.
The 21st Century ROAD to Housing Act would reward communities that build more housing supply, ease environmental review of new construction, rethink regulations that hamper additional lending for small-dollar mortgages, and expand tenant assistance and protections. The legislation also includes provisions related to brokered deposits, bank examinations, de novo bank formation and a mentor-protégé program pairing large financial institutions with smaller depository institutions.
The Senate yesterday voted 85-5 in favor of the legislation, which includes elements of separate housing bills introduced by the Senate Banking Committee and House Financial Services Committee.
In a statement, ABA President and CEO Rob Nichols commended the House for passing the bill, which he said would promote a more tailored regulatory environment for community banks.
