CFPB Issues HMDA Resources Following Reporting Reforms

Jan 03, 2018
The Consumer Financial Protection Bureau recently launched the HMDA Check Digit Tool and Rate Spread Calculator, which are designed to support calculation of data field values required for reporting HMDA data.

The bureau also raised the HMDA Regulation C asset-size threshold from $44 million to $45 million as of Dec. 31, 2017.

The CFPB previously announced that it will not require the resubmission of HMDA data for non-material data collected in 2018 or impose penalties for data errors, which ICBA strongly supports.

The bureau also said it intends to address and reconsider various aspects of the 2015 HMDA rule, such as institutional and transactional coverage tests and the rule’s discretionary data points.