Tom RamstackTom RamstackFebruary 15, 201824min148

H.R. 620: ADA Education and Reform Act of 2017

This was a vote to pass H.R. 620 in the House.

H.R. 620 is intended to protect disabled persons while providing business owners with the opportunity to remedy alleged Americans with Disabilities Act (ADA) violations before incurring litigation costs. The bill amends the private enforcement provisions of the ADA’s Title III to require a notice and cure period before litigation. It requires the Justice Department to develop a program to educate state and local governments and property owners on strategies to promote access to public accommodations for disabled persons. It requires the Judicial Conference of the United States to develop a model program to promote alternative dispute resolution mechanisms to resolve claims of architectural barriers for public accommodations.The 1990 ADA is designed to “provide a clear and comprehensive national mandate for the elimination of discrimination against individuals with disabilities.” Title III prohibits places of public accommodation from discriminating against the disabled persons. The U.S. Attorney General has issued regulations and guidance to ensure that no individual is discriminated against on the basis of disability for access to public accommodations. The public accommodations must be made free from architectural and communications barriers. Title III also provides a private right of action for preventive relief, which can include an injunction or restraining order.

Passed.

No  D   DeGette, Diana CO 1st
No  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
No  D   Perlmutter, Ed CO 7th

H.R. 3299: Protecting Consumers’ Access to Credit Act of 2017

This was a vote to pass H.R. 3299 in the House.

H.R. 3299 is intended to clear up uncertainties about interest rates on home loans. It amends the Home Owners’ Loan Act, the Federal Credit Union Act and the Federal Deposit Insurance Act to require interest rates on certain loans to remain unchanged when banks sell or assign loans to third parties. The bill is largely a reaction to the U.S. Court of Appeals for the Second Circuit 2015 ruling in Madden v. Midland Funding. The court said that while the National Bank Act allows federally chartered banks to charge interest under the laws of their home states, non-banks that buy the loans could not continue to collect the same interest because they are subject to limits of the borrower’s state. The Second Circuit did not apply the “valid when made” doctrine and held that the National Bank Act did not preempt state usury laws because Midland was not a national bank but rather a “third party.” The Madden decision created market uncertainty and risk for bank lending programs, including “bank model” marketplace lending in which national banks originate loans and then transfer them to non-bank third parties. Sponsors of the bill said offering consistent terms nationwide is vital to keeping interest rates low by allowing lenders to access cheaper investment capital and to pass along the savings to borrowers.

Passed.

No  D   DeGette, Diana CO 1st
No  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
No  D   Perlmutter, Ed CO 7th

H.R. 3978: TRID Improvement Act of 2017

This was a vote to pass H.R. 3978 in the House.

H.R. 3978 includes the text of six bills intended to ensure transparency in the financial industry and to clarify the duties of parties to transactions.

Title I: TRID Improvement (H.R. 3978)

Title I amends the Real Estate Settlement Procedures Act of 1974 to direct the Consumer Financial Protection Bureau to require mortgage lenders to disclose in the closing documents for mortgages the discounted rates given to consumers for certain title insurance premiums.

Title II: Protection of Source Code (H.R. 3948)

Title II amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940 and the Investment Advisers Act of 1940 to require the Securities and Exchange Commission to first issue a subpoena before it compels anyone to produce algorithmic trading source codes or similar intellectual property.

Title III: Fostering Innovation (H.R. 1645)

Title III amends Section 404(b) of the Sarbanes-Oxley Act to extend the exemption of emerging growth companies from the auditor attestation of a company’s internal controls over financial reporting requirement. Current law allows the exemption for five years. This bill extends the exemption until the earlier of ten years after the emerging growth company goes public, the end of the fiscal year in which the company’s average gross revenues exceed $50 million or when the company qualifies with the Securities and Exchange Commission as a large accelerated filer.

Title IV: National Security Exchange Regulatory Parity (H.R. 4546)

Title IV modifies Section 18 of the Securities Act of 1933 to eliminate references to specific national securities exchanges. The Title also clarifies that the state ‘‘blue sky’’ exemption shall be available for all securities that qualify for trading in the national market system under section 11A(2) of the Securities Exchange Act of 1934.

Title V: Eliminating Barriers to Jobs for Loan Originators (H.R. 2948)

Title V amends the Secure and Fair Enforcement Mortgage Licensing Act of 2008 to provide temporary loan origination authority to anyone registered as a loan originator who meets requirements to continue to originate loans after: (1) moving from a financial institution to a state-licensed non-bank originator or (2) moving interstate to a state-licensed loan originator in another state.

Title VI: Financial Stability Oversight Council Improvement (H.R. 4061)

Title VI codifies into law the Financial Stability Oversight Council’s transparency and systemically important financial institution (SIFI) designation process improvements. It is supposed to authorize non-bank financial companies to self-cure by carrying out de-risking activities before being designated a SIFI. By promoting transparency in the SIFI designation process, this legislation is supposed to facilitate clearer analysis of the methods the Financial Stability Oversight Council uses to assess the risk associated with the asset management industry.

Passed.

No  D   DeGette, Diana CO 1st
Yes  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
No  D   Perlmutter, Ed CO 7th

H.Res. 129: Calling on the Department of Defense, other elements of the federal government and foreign governments to intensify efforts to investigate, recover, and identify all missing and unaccounted-for personnel of the United States.

This was a vote to agree to H.Res. 129 in the House.

H.Res. 129 calls on the Defense POW/MIA Accounting Agency, other federal agencies and foreign governments to continue to account for missing U.S. personnel from past wars and conflicts. The resolution is based on evidence that there is no account of the fate of more than 83,000 U.S. military personnel from past wars and conflicts. They include about 50,000 World War II Navy personnel lost at sea who are unlikely to be recovered. The National League of POW/MIA Families has led the accounting effort since 1970. They have been joined by Korean War, Cold War and World War II families with support from the American Legion, the Veterans of Foreign Wars, the Disabled American Veterans, Jewish War Veterans, AMVETS, Vietnam Veterans of America, Special Forces Association, Special Operations Association and Rolling Thunder.

Passed.

Yes  D   DeGette, Diana CO 1st
Yes  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
Yes  D   Perlmutter, Ed CO 7th

H.R. 3542: Hamas Human Shields Prevention Act

This was a vote to pass H.R. 3542 in the House.

H.R. 3542 says U.S. policy condemns the use of human shields by the militant Palestinian organization Hamas and their supporters as an act of terrorism and a violation of human rights and international humanitarian law. The bill urges the president to direct the U.S. Permanent Representative to the United Nations to use U.S. influence at the U.N. Security Council to secure support for a resolution imposing sanctions against Hamas’ use of human shields. The president is required to prohibit property transactions and U.S. entry for all Hamas members and their associates or anyone who has helped in the use of human shields. The president can waive a sanction for 180 days after congressional certification that the waiver is vital to U.S. national security interests. Evidence for the bill was drawn from reports that Hamas uses human shields to deter attacks on military targets and to exploit any incidental harm caused by military attacks.

Passed.

Yes  D   DeGette, Diana CO 1st
Yes  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
Yes  D   Perlmutter, Ed CO 7th

Sources: GovTrack and congressional reports


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Tom RamstackTom RamstackDecember 15, 201721min333

H.R. 4324: Strengthening Oversight of Iran’s Access to Finance Act

This was a vote to pass H.R. 4324 in the House.

H.R. 4324 is an attempt to deny Iran access to civil aircraft that could be converted to military uses. It follows accusations from the U.S. government that Iran is violating United Nations resolutions forbidding it from exporting arms to Middle Eastern terrorist groups and militias. H.R. 4324 would require the Treasury Department to report to Congress on any financial transactions that included commercial passenger aircraft sales to Iran. The audit is supposed to describe any risks the aircraft sold in the past year could be used to transport weapons, help militias commit human rights violations or launder money in a way that poses a risk to the U.S. financial system. The Obama administration lifted some embargo restrictions against Iran last year under the Joint Comprehensive Plan Of Action. They included an authorization for sales of 200 civilian aircraft. More recently, U.S. intelligence sources reported Iran Air has used civilian planes to transport rockets, missiles and other military cargo on behalf of the Islamic Revolutionary Guard Corps and operated flights to Syria using weapons resupply routes.

Passed.

No  D   DeGette, Diana CO 1st
No  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
No  D   Perlmutter, Ed CO 7th

H.R. 1638: Iranian Leadership Asset Transparency Act

This was a vote to pass H.R. 1638 in the House.

This bill requires the Treasury Department to publish a list of personal assets of Iranian leaders to publicly reveal how money they acquired through embezzlement and corruption might be used to support international terrorism. The bill is directed most specifically at the assets of the Supreme Leader of Iran Ali Khamenei. Passage of the bill coincides with calls in Congress for investigations of how about 70 Iranian leaders suspected of supporting terrorism are spending their money. The bill’s main author was Bruce Poliquin, R-Maine, who said in a statement, “This bill will allow the world to see how the top leadership in Iran facilitates human rights abuse through funding pilfered from the Iranian people. It will allow financial institutions to see in public form the type of assets associated with these individuals and hopefully better focus anti-money laundering efforts.” The bill also requires the Treasury Department to develop a detailed list of movable and immovable property of Iran’s top political and military leaders, which would be published on the Department’s website. Poliquin said about the Iranian leadership, “They simply cannot be trusted.”

Passed.

No  D   DeGette, Diana CO 1st
No  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
No  D   Perlmutter, Ed CO 7th

H.R. 3971: Community Institution Mortgage Relief Act of 2017

This was a vote to pass H.R. 3971 in the House.

This bill seeks to lessen the regulatory burden on community banks prompted by the financial crisis that started in 2008. H.R. 3971 rolls back the Consumer Financial Protection Bureau rule that requires small banks to set up escrow accounts for high-risk borrowers. Escrow accounts were supposed to ensure borrowers always would have enough money set aside to pay expenses like taxes and insurance. The bill’s sponsors say the rule is too costly for small banks, raising their loan rates and contributing to driving some of them out of business. They also say it gives an advantage to large banks that spread their resources over larger financial reserves than their smaller competitors. The Community Institution Mortgage Relief Act exempts community banks from the escrow requirement if loans are held by financial institutions with reserves of no more than $10 billion. It also requires banks to hold the loans for at least three years. It gives loan servicing exemptions to banks with fewer than 20,000 mortgages.

Passed.

Yes  D   DeGette, Diana CO 1st
Yes  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
Yes  D   Perlmutter, Ed CO 7th

H.R. 1730: Combating Anti-Semitism Act of 2017

This was a vote to pass H.R. 1730 in the House.

H.R. 1730 would increase penalties for bomb threats and other threats of violence against religious institutions. The threats could be prosecuted as hate crimes. The bill also increases the criminal punishment for damaging religious institutions’ property by fire or explosives from one year to three years in prison. The bill is an amendment to the Church Arson Prevention Act. The bill defines “real religious property” to include property leased by religious institutions, such as religious community centers. Part of the motivation for the bill came from recent Anti-Defamation League numbers showing anti-Semitic incidents in the United States increased by 86 percent in the first three months of 2017. The incidents included vandalism, cemetery desecrations and bomb threats against community centers. This legislation adds a new dimension to criminal liability by saying anyone who makes violent threats against religious institutions can be prosecuted for obstructing people from practicing their right to exercise their religious beliefs.

Passed.

Yes  D   DeGette, Diana CO 1st
Yes  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
Yes  D   Perlmutter, Ed CO 7th

H.R. 2706: Financial Institution Customer Protection Act of 2017

This was a vote to pass H.R. 2706 in the House

H.R. 2706 sets rules to terminate bank accounts when the account holders are suspected of fraudulent activity. It seeks to avoid arbitrary decisions by federal regulators who order banks to terminate accounts. Instead, the rules of H.R. 2706 are supposed to ensure due process is followed before shutting off account holders’ access to deposited money. Banking agencies would be required to give Congress annual reports on the number of accounts they caused to be closed and the legal authority they claimed. The bill is an outgrowth of Operation Choke Point, a Justice Department initiative to combat consumer fraud by blocking corrupt businesses from access to the financial system. Examples include Ponzi schemes, debt consolidation scams and sales of drug paraphernalia.

Passed.

Yes  D   DeGette, Diana CO 1st
Yes  D   Polis, Jared CO 2nd
Yes  R   Tipton, Scott CO 3rd
Yes  R   Buck, Ken CO 4th
Yes  R   Lamborn, Doug CO 5th
Yes  R   Coffman, Mike CO 6th
Yes  D   Perlmutter, Ed CO 7th

 

Source: GovTrack