You could ask the appraisal company to show where in the Dodd- Frank Bill it says that.
I believe that appraisals for removal of PMI are not covered by RESPA and the lender may charge you more for the appraisal than their actual cost.
I am guessing you got a low ball appraisal, and they charged you a boatload for it. If it is an appraisal management company, you can contest the appraisal to the appraisal management company. Put it in writing and produce comparable sales to make your case. Include maps and pictures. The information to do so is readily available online.
If the lender has their own personal list of appraisers, you will find these clowns will tell you to take a flying leap, and there is nothing you can do about.
If you were relying on online services for your property value. Remember, these automated services are very good, but they do not see any actual houses, neither yours nor the comparable. The actual value of a home can easily swing up to $100,000 depending on condition and upgrades.