Housing Opportunities Made Easier Act

Summary:  TITLE I--HOUSING OPPORTUNITIES MADE EASIER  (Sec. 101) This bill amends the Truth in Lending Act to deem mortgage appraisal services donated by a fee appraiser to an organization that is eligible to receive tax-deductible charitable contributions to be customary and reasonable. TITLE II--EXPANDING ACCESS TO CAPITAL FOR RURAL JOB CREATORS  (Sec. 201) The bill amends the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation within the Securities and Exchange Commission to report on issues encountered by rural-area small businesses. TITLE III--SENIOR SAFE (Sec. 301) The bill extends immunity from liability to certain individuals who, in good faith and with reasonable care,&nbsp;disclose the suspected exploitation of a senior citizen to a regulatory or law-enforcement agency. Specifically, this immunity shall&nbsp;apply to certain credit-union, depository-institution, investment-adviser, broker-dealer,&nbsp;transfer-agency, insurance-company,&nbsp;and insurance-agency employees who&nbsp;have&nbsp;received specified training related&nbsp;to identifying&nbsp;and reporting&nbsp;the suspected exploitation of a senior citizen. Similarly,&nbsp;the employing&nbsp;financial institution shall not be liable with respect to&nbsp;disclosures made by such employees.  (Sec. 302) The bill allows financial institutions and third-party entities to offer training related to the suspected financial exploitation of a senior citizen to specified employees. The bill provides guidance regarding the content, timing, and record-maintenance requirements of such training.

TITLE I--HOUSING OPPORTUNITIES MADE EASIER

SEC. 101. EXEMPTION FROM TRUTH IN LENDING ACT.

    Section 129E(i) of the Truth in Lending Act (15 U.S.C. 1639e(i)) is 
amended by adding at the end the following:
            ``(4) Rule of construction related to appraisal 
        donations.--For purposes of paragraph (1), if a fee appraiser 
        voluntarily donates appraisal services to an organization 
        described in section 170(c)(2) of the Internal Revenue Code of 
        1986, such voluntary donation shall be deemed customary and 
        reasonable.''.

      TITLE II--EXPANDING ACCESS TO CAPITAL FOR RURAL JOB CREATORS

SEC. 201. ACCESS TO CAPITAL FOR RURAL-AREA SMALL BUSINESSES.

    Section 4 of the Securities Exchange Act of 1934 (15 U.S.C. 78d) is 
amended--
            (1) in subsection (j)(4)(C), by striking ``and women-owned 
        small businesses'' and inserting ``, women-owned, and rural-
        area small businesses''; and
            (2) in subsection (j)(6)(B)(iii), by striking ``and women-
        owned small businesses'' and inserting ``, women-owned, and 
        rural-area small businesses''.

                         TITLE III--SENIOR SAFE

SEC. 301. IMMUNITY.

    (a) Definitions.--In this title--
            (1) the term ``Bank Secrecy Act officer'' means an 
        individual responsible for ensuring compliance with the 
        requirements mandated by subchapter II of chapter 53 of title 
        31, United States Code (commonly known as the ``Bank Secrecy 
        Act'');
            (2) the term ``broker-dealer'' means a broker and a dealer, 
        as those terms are defined in section 3(a) of the Securities 
        Exchange Act of 1934 (15 U.S.C. 78c(a));
            (3) the term ``covered agency'' means--
                    (A) a State financial regulatory agency, including 
                a State securities or law enforcement authority and a 
                State insurance regulator;
                    (B) each of the entities represented in the 
                membership of the Federal Financial Institutions 
                Examination Council established under section 1004 of 
                the Federal Financial Institutions Examination Council 
                Act of 1978 (12 U.S.C. 3303);
                    (C) the Securities and Exchange Commission;
                    (D) a securities association registered under 
                section 15A of the Securities Exchange Act of 1934 (15 
                U.S.C. 78o-3);
                    (E) a law enforcement agency; and
                    (F) a State or local agency responsible for 
                administering adult protective service laws;
            (4) the term ``covered financial institution'' means--
                    (A) a credit union;
                    (B) a depository institution;
                    (C) an investment adviser;
                    (D) a broker-dealer;
                    (E) an insurance company;
                    (F) an insurance agency; and
                    (G) a transfer agent;
            (5) the term ``credit union'' has the meaning given the 
        term in section 2 of the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act (12 U.S.C. 5301);
            (6) the term ``depository institution'' has the meaning 
        given the term in section 3(c) of the Federal Deposit Insurance 
        Act (12 U.S.C. 1813(c));
            (7) the term ``exploitation'' means the fraudulent or 
        otherwise illegal, unauthorized, or improper act or process of 
        an individual, including a caregiver or a fiduciary, that--
                    (A) uses the resources of a senior citizen for 
                monetary or personal benefit, profit, or gain; or
                    (B) results in depriving a senior citizen of 
                rightful access to or use of benefits, resources, 
                belongings, or assets;
            (8) the term ``insurance agency'' means any business entity 
        that sells, solicits, or negotiates insurance coverage;
            (9) the term ``insurance company'' has the meaning given 
        the term in section 2(a) of the Investment Company Act of 1940 
        (15 U.S.C. 80a-2(a));
            (10) the term ``insurance producer'' means an individual 
        who is required under State law to be licensed in order to 
        sell, solicit, or negotiate insurance coverage;
            (11) the term ``investment adviser'' has the meaning given 
        the term in section 202(a) of the Investment Advisers Act of 
        1940 (15 U.S.C. 80b-2(a));
            (12) the term ``investment adviser representative'' means 
        an individual who--
                    (A) is employed by or associated with an investment 
                adviser; and
                    (B) does not perform solely clerical or ministerial 
                acts;
            (13) the term ``registered representative'' means an 
        individual who represents a broker-dealer in effecting or 
        attempting to effect a purchase or sale of securities;
            (14) the term ``senior citizen'' means an individual who is 
        not younger than 65 years of age;
            (15) the term ``State'' means each of the several States, 
        the District of Columbia, and any territory or possession of 
        the United States;
            (16) the term ``State insurance regulator'' has the meaning 
        given the term in section 315 of the Gramm-Leach-Bliley Act (15 
        U.S.C. 6735);
            (17) the term ``State securities or law enforcement 
        authority'' has the meaning given the term in section 24(f)(4) 
        of the Securities Exchange Act of 1934 (15 U.S.C. 78x(f)(4)); 
        and
            (18) the term ``transfer agent'' has the meaning given the 
        term in section 3(a) of the Securities Exchange Act of 1934 (15 
        U.S.C. 78c(a)).
    (b) Immunity From Suit.--
            (1) Immunity for individuals.--An individual who has 
        received the training described in section 302 shall not be 
        liable, including in any civil or administrative proceeding, 
        for disclosing the suspected exploitation of a senior citizen 
        to a covered agency if the individual, at the time of the 
        disclosure--
                    (A) served as a supervisor or compliance officer 
                (including as a Bank Secrecy Act officer) for, or, in 
                the case of a registered representative, investment 
                adviser representative, or insurance producer, was 
                affiliated or associated with, a covered financial 
                institution; and
                    (B) made the disclosure--
                            (i) in good faith; and
                            (ii) with reasonable care.
            (2) Immunity for covered financial institutions.--A covered 
        financial institution shall not be liable, including in any 
        civil or administrative proceeding, for a disclosure made by an 
        individual described in paragraph (1) if--
                    (A) the individual was employed by, or, in the case 
                of a registered representative, insurance producer, or 
                investment adviser representative, affiliated or 
                associated with, the covered financial institution at 
                the time of the disclosure; and
                    (B) before the time of the disclosure, each 
                individual described in section 302(a) received the 
                training described in section 302.
            (3) Rule of construction.--Nothing in paragraph (1) or (2) 
        shall be construed to limit the liability of an individual or a 
        covered financial institution in a civil action for any act, 
        omission, or fraud that is not a disclosure described in 
        paragraph (1).

SEC. 302. TRAINING.

    (a) In General.--A covered financial institution or a third party 
selected by a covered financial institution may provide the training 
described in subsection (b)(1) to each officer or employee of, or 
registered representative, insurance producer, or investment adviser 
representative affiliated or associated with, the covered financial 
institution who--
            (1) is described in section 301(b)(1)(A);
            (2) may come into contact with a senior citizen as a 
        regular part of the professional duties of the individual; or
            (3) may review or approve the financial documents, records, 
        or transactions of a senior citizen in connection with 
        providing financial services to a senior citizen.
    (b) Content.--
            (1) In general.--The content of the training that a covered 
        financial institution or a third party selected by the covered 
        financial institution may provide under subsection (a) shall--
                    (A) be maintained by the covered financial 
                institution and made available to a covered agency with 
                examination authority over the covered financial 
                institution, upon request, except that a covered 
                financial institution shall not be required to maintain 
                or make available such content with respect to any 
                individual who is no longer employed by or affiliated 
                or associated with the covered financial institution;
                    (B) instruct any individual attending the training 
                on how to identify and report the suspected 
                exploitation of a senior citizen internally and, as 
                appropriate, to government officials or law enforcement 
                authorities, including common signs that indicate the 
                financial exploitation of a senior citizen;
                    (C) discuss the need to protect the privacy and 
                respect the integrity of each individual customer of 
                the covered financial institution; and
                    (D) be appropriate to the job responsibilities of 
                the individual attending the training.
            (2) Timing.--The training under subsection (a) shall be 
        provided--
                    (A) as soon as reasonably practicable; and
                    (B) with respect to an individual who begins 
                employment with or becomes affiliated or associated 
                with a covered financial institution after the date of 
                enactment of this Act, not later than 1 year after the 
                individual becomes employed by or affiliated or 
                associated with the covered financial institution in a 
                position described in paragraph (1), (2), or (3) of 
                subsection (a).
            (3) Records.--A covered financial institution shall--
                    (A) maintain a record of each individual who--
                            (i) is employed by or affiliated or 
                        associated with the covered financial 
                        institution in a position described in 
                        paragraph (1), (2), or (3) of subsection (a); 
                        and
                            (ii) has completed the training under 
                        subsection (a), regardless of whether the 
                        training was--
                                    (I) provided by the covered 
                                financial institution or a third party 
                                selected by the covered financial 
                                institution;
                                    (II) completed before the 
                                individual was employed by or 
                                affiliated or associated with the 
                                covered financial institution; and
                                    (III) completed before, on, or 
                                after the date of enactment of this 
                                Act; and
                    (B) upon request, provide a record described in 
                subparagraph (A) to a covered agency with examination 
                authority over the covered financial institution.

SEC. 303. RELATIONSHIP TO STATE LAW.

    Nothing in this title shall be construed to preempt or limit any 
provision of State law, except only to the extent that section 301 
provides a greater level of protection against liability to an 
individual described in section 301(b)(1) or to a covered financial 
institution described in section 301(b)(2) than is provided under State 
law.

            Passed the House of Representatives January 29, 2018.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.