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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.

Obama Administration Announces Initiative to Target Patent Trolls, Protect Consumers

June 7, 2013: 

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."

Lease Accounting Update

June 7, 2013: 

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.

OMB Government Employee Travel Guidance

June 7, 2013: 

In May, the Office of Management and Budget (OMB) released two memos providing guidance for government employee conference and meeting attendance.

NAR Submits Comments on Lender Placed Insurance

May 31, 2013: 

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.

Lease Accounting "Dear Colleague" Letter

May 31, 2013: 

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.

CFPB Addresses Outstanding QM Issues

May 31, 2013: 

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.

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