On November 29, 2021, the Department of Housing and Urban Development (HUD) and Inland Fair Housing and Mediation Board announced it has reached a Conciliation/Voluntary Compliance Agreement with National Community Renaissance; National Community Renaissance of California; Desert Meadows Housing Partners, LP; Victorville Housing Partners L.P.; and Cathedral Family Housing Partners, L.P., management agents and owners of four HUD-subsidized apartment complexes in southern California, resolving allegations that the property managers refused to rent to or provide adequate language services […]
Month: December 2021
Happy Holidays
All of us at Compliance Resource wish all of you the happiest of happy holiday seasons. Enjoy this special time with your families. Stay safe.
FINAL 2022 LENDING THRESHOLDS PUBLISHED
On December 23, 2022, the Consumer Financial Protection Bureau (CFPB) published the final 2022 lending thresholds. The CFPB published a final rule amending Regulation C 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). Based on the 4.7 percent increase in the average of the CPI-W for the 12-month […]
REVISED HMDA EXAMINATION PROCEDURES
On December 17, 2021, the Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2021-63, which contains interagency Home Mortgage Disclosure Act, (HMDA) examination procedures. The revised procedures address changes to: The effective dates for banks that meet or exceed either the closed-end mortgage loans or the open-end lines of credit loan-volume threshold in each of the two preceding calendar years: Effective July 1, 2020, a bank, savings association, or credit union that […]
AGENCIES ANNOUNCE 2022 CRA ASSET-SIZE THRESHOLDS
On December 16, 2021, the Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2022 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their Community Reinvestment Act (CRA) regulations. As a result of the 4.73 percent increase in the CPI-W for the period ending in November 2021, the definitions of small and intermediate small banks for CRA examinations will change as follows: Small bank means an institution […]