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CFPB Announces New HMDA Threshold

Posted on 12/17/2012

The CFPB has issued a final rule adjusting the asset-size exemption threshold under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Based on the adjustments, banks, savings associations, and credit unions with assets of $42 million or less as of Dec. 31, 2012, will be exempt from collecting HMDA data in 2013. The CFPB is required to adjust this threshold yearly by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The rule will be effective immediately upon publication in the Federal Register.

To read more visit: http://files.consumerfinance.gov/f/201212_CFPB_Home-Mortgage-Disclosure-Adjustment-Asset-Size-Exemption-Threshold.pdf



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