The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Government Affairs policy staff. To receive this content via email, subscribe to NAR's Weekly Report newsletter and check the "legislative & regulatory issues" box.
On June 5, the White House announced an initiative to curb the use of patents by patent holders as a tool for "frivolous litigation," and to protect "Main Street retailers, consumers and other end-users of productions containing patented technology."
On May 14, thirteen U.S. Senators sent a "Dear Colleague" letter to Ms. Leslie Seidman, Chairman of the Financial Accounting Standards Board (FASB), expressing concern that the FASB and the International Accounting Standards Board (IASB) were preparing to release the latest exposure draft on leases, but had still not released a cost-benefit analysis of the lease accounting proposal.
In May, the Office of Management and Budget (OMB) released two memos providing guidance for government employee conference and meeting attendance.
FHFA published a notice in the Federal Register inviting input on planned restrictions to some forced-placed insurance practices by banks and servicers of GSE loans. In the notice FHFA indicated that they would limit specific forced-placed practices due to concerns regarding conflict of interest between parties to the insurance agreement.
On May 14, thirteen U.S. Senators sent a "Dear Colleague" letter to Ms. Leslie Seidman, Chairman ofthe Financial Accounting Standards Board ("FASB"), expressing concern that the FASB and the International Accounting Standards Board ("IASB") were preparing to release the latest expsoure draft on leases, but had still not released a cost-benefit analysis of the lease accounting proposal.
The Consumer Financial Protection Bureau (CFPB) finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB’s Ability-to-Repay rule for small creditors, community development lenders, and housing stabilization programs.