Apartment Advocate Pro
NAA Responds to Comprehensive Data Privacy and Protection Legislation
By Maria Spencer | | Updated
Several weeks ago, a bipartisan and bicameral group of Members of Congress introduced legislation to address a comprehensive privacy law. The American Data Privacy and Protection Act (ADPPA), H.R. 8152, would create certain data privacy rights for consumers and add privacy by design and data…
Senate Banking Discusses National Flood Insurance Program
By Maria Spencer | | Updated
The Senate Banking Committee discussed the reauthorization of the National Flood Insurance Program (NFIP) during two hearings earlier this month.
The first hearing focused on protecting communities from flood risk. Stakeholders discussed how the NFIP helps manage and mitigate flood risk, the…
NAA Supports FY2023 Appropriations that Expand Multifamily
By Maria Spencer | | Updated
Fiscal Year 2023 (FY23) appropriations are in full swing. The House has already quickly passed its proposals out of the subcommittee and full committee including the spending bill which includes funding for the U.S. Department of Housing and Urban Development (HUD).
For 2023, the committee…
New CFPB Rule Backs Tougher Screening Restrictions
By Sam Gilboard | | Updated
On June 28, 2022, the Consumer Financial Protection Bureau (CFPB) released an interpretive rule affirming the federal Fair Credit Reporting Act’s (FCRA) limited preemption authority of state laws. In the ruling, the CFPB reminds states of their “substantial flexibility to pass laws involving…
Federal Bills Would Make Accepting Vouchers Mandatory
By Ben Harrold | | Updated
On June 23, 2022, federal legislators introduced bills that would amend the national Fair Housing Act of 1968 to prohibit rental housing providers from rejecting an applicant because of their “source of income,” specifically targeting those who hold a Section 8 Housing Choice Voucher (HCV). S. 4485…
SEC Climate Proposal Would Increase Costs, Lower Returns
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The SEC is moving to require publicly traded companies to make certain climate-related disclosures, which will have significant implications for the rental housing industry. Upon further analyzing the United States Securities and Exchange Commission's (SEC) proposal to require climate-related…
Screening Practices Under Examination According to CFPB
By Sam Gilboard | | Updated
Recent guidance from the Consumer Financial Protection Bureau (CFPB) suggests that the financial services watchdog will be keeping a close eye on the way users of consumer credit reports notify applicants of an adverse action. On May 26, 2022, Consumer Financial Protection Circular 2022-03…
Rent Control is Prohibited in One More State
By Ben Harrold | | Updated
In a huge win for long-term housing affordability, the Ohio legislature passed a preemption of local rent control on June 1, 2022. In less than two weeks, a coalition of real estate and rental housing industry partners successfully added language to H.B. 430 which declares rent control and rent…
Fannie and Freddie Equity Plans Aim to Break Down Barriers for Renters
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The Equitable Housing Finance Plan for 2022-2024 aims to provide equitable access to affordable housing. On June 8, the Federal Housing Finance Agency (FHFA) announced the release of Fannie Mae’s and Freddie Mac’s (the Enterprises) Equitable Housing Finance Plan for 2022-2024 to provide and…
Lawmakers Release Federal Data Privacy Bill
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Bipartisan bill will have an impact on multifamily data practices. For the past several years, Congress has continued to debate a federal consumer data privacy standard, but disagreements on federal preemption and private right of action have prevented meaningful progress. But in a significant…