On February 12, 2020 the Federal Financial Institutions Examination Council (FFIEC) published its 2020 version of A Guide to HMDA Reporting – Getting It Right. The Guide, which has been published since 1998, provides a summary of responsibilities and requirements, directions for assembling the necessary tools, and instructions for reporting HMDA data. The 2020 version is updated to include information from the final rule published by the CFPB in October 2019. Primarily, the 2020 Guide […]
Category: HMDA
CFPB REGULATORY STATUS CHECK
On February 6, 2020 Kathleen Kraninger presented the Consumer Financial Protection Bureau’s (CFPB’s) Fall 2019 Semi-Annual Report to Congress, covering the period from .April 1, 2019, to September 30, 2019. The Report provides updates on a number of current regulatory efforts including, but not limited to: Payday, Vehicle Title, and Certain High-Cost Installment loans In February 2019, the CFPB released Notices of Proposed Rulemaking (NPRM) on the 2017 Payday, Vehicle Title, and Certain High-Cost Installment […]
REVISED CFPB HMDA GUIDE
On January 23, 2020 the Consumer Financial Protection Bureau (CFPB) published an updated version of its HMDA Small Entity Compliance Guide. The new version of the Guide incorporate the content of the final CFPB rule issued on October 10, 2019 and deletes out of date provisions.
WISH YOU WERE HERE!
The Compliance Resource team sends you greetings from sunny St. Petersburg, Florida! We’ve flown south to warmer temperatures to enjoy a few days of team building, meeting with our Board of Advisors to decide what we can offer you this year and beyond, and also to present a couple of important training sessions. We’re having a blast taking in the sights of beautiful St. Pete, from the stunning views, world-renowned art, and lovely beaches to […]
2020 HOME MORTGAGE DISCLOSURE ACT THRESHOLD INCREASE
On December 20, 2019 the Consumer Financial Protection Bureau published a final rule amending the official commentary that interprets the requirements of Regulation C (Home Mortgage Disclosure Act) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). For 2020 the exemption is increased to $47 million from $46 million. […]