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House Passes Five Financial Services Bills

Washington, September 10, 2019

On Tuesday, the U.S. House of Representatives passed the following bills offered by House Financial Services Committee Members, and managed on the House floor by Congressman Michael San Nicolas  (D-GU), Vice Chairman of the House Financial Services Committee.

  • H.R. 2852, Homebuyer Assistance Act of 2019, a bill that would make it easier for homebuyers to buy a home with a Federal Housing Administration (FHA) mortgage by alleviating the current shortage of certified appraisers.

    This bill was introduced by Rep. Brad Sherman (D-CA).

    It passed by a vote of 419-5.
  • H.R. 3620, Strategy and Investment in Rural Housing Preservation Act of 2019, a bill that would permanently authorize the U.S. Department of Agriculture’s (USDA) Multifamily Housing Preservation and Revitalization (MPR) Program and further authorizes $1 billion to carry out the program. It also requires USDA to come up with a plan for preservation of rural multifamily housing backed by USDA loans and establishes an advisory committee to advise USDA in implementing this plan.

    This bill was introduced by Rep. William Lacy Clay (D-MO), Chairman of the Subcommittee on Housing, Community Development and Insurance.

    It passed by a voice vote.
  • H.R. 281, Ensuring Diverse Leadership Act of 2019, a bill that would require the Federal Reserve Bank to interview at least one individual reflective of gender diversity and one reflective of racial or ethnic diversity in making the appointment of a regional bank president.

    This bill was introduced by Rep. Joyce Beatty (D-OH), Chairwoman of the Subcommittee on Diversity and Inclusion. 

    It passed by a voice vote.
  • H.R. 241, Bank Service Company Examination Act, a bipartisan bill to amend the Bank Service Company Act (BSCA) by enhancing the coordination of state banking agencies with federal banking agencies in regulating and examining the activities of bank service companies. It also allows for the sharing of information related to examinations and regulations between federal and state agencies related to banks’ technology service providers (TSPs).

    This bill was introduced by Rep. Roger Williams (R-TX) with  Rep. Greg Meeks (D-NY), Chairman of the Subcommittee on Consumer Protection and Financial Institutions, as a cosponsor.

    It passed by a voice vote.
  • H.R. 1690, Safe Housing for Families Act of 2019, a bill that protects residents of public housing from carbon monoxide poisoning by authorizing over $300 million over three years to fund the installation and maintenance of carbon monoxide detectors in Department of Housing and Urban Development-subsidized housing units that have combustion-fueled appliances or a ventilation system that connects them to such units.

    This bill was introduced by Rep. Chuy Garcia (D-IL).

    It passed by a voice vote.

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