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House members voted 303-121 today to pass NAFCU-backed H.R. 3192, the "Homebuyers Assistance Act," which would establish a hold-harmless period on enforcement under CFPB's TILA-RESPA integrated mortgage disclosures rule until Feb. 1.

NAFCU Vice President of Legislative Affairs Brad Thaler urged lawmakers to support the legislation in a letter yesterday, noting the remaining "unresolved ambiguities" of the rule.

Thaler noted that while both NCUA and CFPB have noted they will consider credit unions' good faith efforts toward compliance regarding the rule, the hold-harmless bill "will erase all doubt and allow mortgage lenders to comply without fear of enforcement actions."

Whether the bill can clear the Senate, on its own or as part of other legislation, is unclear. Sen. Tim Scott, R-S.C., has meanwhile introduced a companion bill as S. 1711.

The White House this week threatened a veto of H.R. 3192. NAFCU will continue to monitor the bill's progress and advocate further regulatory relief for credit unions.