CFPB proposes changes to HMDA rule

cfpb-logoThe CFPB today issued a notice of proposed rulemaking that would raise the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the Home Mortgage Disclosure Act rules. The bureau said the NPRM would provide relief to smaller lenders from HMDA’s data reporting requirements and would clarify partial exemptions from certain HMDA requirements that Congress added in the Economic Growth, Regulatory Relief, and Consumer Protection Act.

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