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.
Overshadowed by the Supreme Court’s June 28 decision on the Affordable Care Act, the Court also reversed course and dismissed the appeal of First American Corporation in First American Financial Services v. Edwards challenging whether a claim alleging RESPA violations can be brought in the absence of actual financial injury to a plaintiff.
On June 28, 2012, Frank Gregoire testified before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity on behalf of the National Association of REALTORS® (NAR).
On Wednesday, June 27, the House Oversight and Government Reform Committee passed legislation that eases proposed limitations on government employee attendance at conferences, including those held by trade associations like NAR.
The U.S. Senate and House of Representatives both approved H.R. 4348, the Surface Transportation Conference Report. The bill authorizes federal surface transportation spending programs through Sept. 30, 2014.
On June 19, 2012, NAR President Moe Veissi met with Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB) to discuss a wide range of topics including the Qualified Mortgage (QM) and RESPA/TILA rulemakings, as well as upcoming rulemakings covering servicing standards and loan officer compensation.
On Wednesday, June 20, 2012, NAR 2012 President Moe Veissi testified before the House Financial Services Subcommittee on Insurance, Housing, and Community Opportunity on the forthcoming Consumer Financial Protection Bureau (CFPB) rulemaking on RESPA/TILA harmonization.