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S. 331Senate116th Congress (2019-2021)In Committee

Home Loan Quality Transparency Act of 2019

A bill to amend the Home Mortgage Disclosure Act of 1975 to modify the exemptions from certain disclosure requirements.

Sponsored by Catherine Cortez MastoSen. Catherine Cortez Masto (D-NV)
Introduced February 5, 2019

AI-Generated Summary

Updated April 14, 2026 at 1:14 AM UTC

The Home Loan Quality Transparency Act of 2019 changes the Home Mortgage Disclosure Act to relieve very small banks from some reporting rules. It creates an exemption for depository institutions that have $30 million or less in assets, so they no longer have to provide the data required in paragraphs 4, 5, and 6 of the Act’s subsection b. The bill also updates related technical language in a separate consumer‑protection law.

Key Provisions

  • Exempts depository institutions with assets of $30 million or less from the disclosure requirements of paragraphs 4, 5, and 6 of HMDA subsection b.
  • Replaces the existing exemption language in subsection (i) of HMDA with the new asset‑size exemption and removes subsection (o).
  • Amends Section 104 of the Economic Growth, Regulatory Relief, and Consumer Protection Act by striking its subsection (b) to align with the HMDA changes.

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

February 5, 2019

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SenateIntro Referral

Introduced in Senate

February 5, 2019

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

February 5, 2019

Bill Text

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Introduced in SenateIssued February 5, 2019

II

116th CONGRESS

1st Session

S. 331

IN THE SENATE OF THE UNITED STATES

February 5, 2019

Ms. Cortez Masto (for herself, Mr. Menendez, Mr. Durbin, Ms. Duckworth, Mr. Booker, Ms. Cantwell, Mrs. Feinstein, Mrs. Gillibrand, Ms. Harris, Ms. Warren, Mr. Wyden, Ms. Smith, and Mr. Van Hollen) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Home Mortgage Disclosure Act of 1975 to modify the exemptions from certain disclosure requirements.

1.

Short title

This Act may be cited as the Home Loan Quality Transparency Act of 2019.

2.

Exemption from certain disclosure requirements

(a)

In general

Section 304 of the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2803) is amended—

(1)

by striking subsection (i) and inserting the following:

(i)

Exemption from certain disclosure requirements

The requirements of paragraphs (4), (5), and (6) of subsection (b) shall not apply with respect to any depository institution described in section 303(3)(A) that has total assets, as of the most recent full fiscal year of the institution, of $30,000,000 or less.

; and

(2)

by striking subsection (o).

(b)

Technical and conforming amendment

Section 104 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (Public Law 115–174) is amended by striking subsection (b).