The ROAD to Housing Act became law at midnight on Saturday, July 11. ABA has published a staff analysis and summary of the bill (insert link when posted).
The House and Senate voted overwhelmingly at the end of last month to pass the 21st Century ROAD to Housing Act, which combined elements of housing and banking proposals put forward by the House Financial Services Committee and Senate Banking Committee.
The legislation rewards 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.
In a statement following House passage of the bill, ABA President and CEO Rob Nichols said the law would “promote a more tailored regulatory environment for community banks.”









