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Recently the U.S. Department of Housing and Urban Development (HUD) announced an agreement with Bank of America (BOA) to settle a claim that the mortgage lender refused to provide financing to a lesbian couple.  The agreement is the first enforcement action taken against a lender involving HUD’s recent rule ensuring that the Department’s core housing programs be open to all eligible persons, regardless of sexual orientation, gender identity, or marital status. HUD’s rule, Equal Access to Housing

It’s that time of year when HMDA LARs are being scrubbed, double-checked and submitted to regulators. Once you submit the data the agencies begin their quality checks, which often result in Macro and Micro Quality Edits that need your attention. Below are agency-provided answers to some of the most common questions about macro quality edits, reasons for providing detailed explana¬tions on the Macro Quality Edit Report, and examples of acceptable macro edit responses. What is

On December 28th the Consumer Financial Protection Bureau (CFPB) issued a final rule adjusting the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The revised asset-size exemption for banks, savings associations, and credit unions has increased to $42 million. As a result, institutions with assets of $42 million or less as of December 31, 2012, are exempt from collecting HMDA data in

Recently the Consumer Financial Protection Bureau (CFPB) published a proposed revision to Regulation E regarding remittance transfers. The proposal addresses three narrow issues. Additional flexibility regarding the disclosure of foreign taxes and fees If a remittance transfer provider does not have specific knowledge regarding variables that affect the amount of foreign taxes imposed on the transfer the proposal would: Continue to permit a provider to rely on a sender’s representations regarding these variables. Separately permit

On December 19 the Federal Reserve Board published the new Community Reinvestment Act (CRA) asset-size threshold adjustments for small and intermediate small institutions. The adjustments are based  on the change in the average of the Consumer Price Index (CPI) for urban wage earners and clerical workers, not seasonally adjusted, for each 12-month period ending in November, with rounding to the nearest million. As a result of the 2.23 percent increase in the CPI index for