CFPB proposes HMDA changes for community banks and credit unions

The Consumer Financial Protection Bureau released a proposed rule on Friday to reassess a section included in the Home Mortgage Disclosure Act that pertains to community banks and credit unions. Under the rule, financial institutions are generally required to report home-equity lines of credit if they made 100 such loans in each of the last two years. But now, the CFPB is questioning if it would be better to increase that threshold to 500 loans. Have thoughts on the matter? The CFPB is now accepting comment.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s