1. Short title This Act may be cited as the Community Lending Enhancement and Regulatory Relief Act of 2017 or the CLEAR Relief Act of 2017 . 2. Community bank exemption from annual management assessment of internal controls requirement of the Sarbanes-Oxley Act of 2002 Section 404 of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7262 ) is amended by adding at the end the following: (d) Community bank exemption (1) Definitions In this subsection— (A) the term bank holding company has the meaning given the term in section 2 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 ); (B) the term insured depository institution has the meaning given the term in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ); and (C) the term savings and loan holding company has the meaning given the term in section 10(a) of the Home Owners' Loan Act ( 12 U.S.C. 1467a(a) ). (2) In general This section and the rules prescribed under this section shall not apply in any fiscal year to any bank holding company, savings and loan holding company, or insured depository institution that, as of the end of the preceding fiscal year, had total consolidated assets of $1,000,000,000 or less. (3) Adjustment of amount The Commission shall annually adjust the dollar amount in paragraph (1) by an amount equal to the percentage increase, for the most recent year, in total assets held by all bank holding companies, savings and loan holding companies, and insured depository institutions, as reported by the Federal Deposit Insurance Corporation. . 3. Escrow requirements relating to certain consumer credit transactions Section 129D(c) of the Truth in Lending Act ( 15 U.S.C. 1639d(c) ) is amended— (1) by redesignating paragraphs (1) through (4) as subparagraphs (A) through (D), respectively, and adjusting the margins accordingly; (2) by striking The Bureau and inserting the following: (1) In general The Bureau