CFPB Reopens Comment Period on HMDA Thresholds

Aug 01, 2019
As announced in June, the Consumer Financial Protection Bureau formally reopened the comment period on its advance notice of proposed rulemaking on the Home Mortgage Disclosure Act, including provisions on coverage thresholds. The CFPB is proposing to raise the coverage thresholds for collecting and reporting HMDA data.

In a comment letter to the bureau in June, ICBA advocated raising the threshold for closed-end mortgages from 25 to at least 100. ICBA also supported making permanent the 500 open-end lines of credit threshold instead of reverting to a 200 threshold in 2022. ICBA will separately provide comments on the data point provisions.