CFPB Issues Final HMDA Rule: What this Means for You and Your Bank
Is your institution subject to Regulation C and HMDA and does it understand the new requirements to help ensure compliant reporting? The CFPB has implemented significant changes under Regulation C and the Home Mortgage Disclosure Act (“HMDA”). These changes impact the types of transactions and the types of institutions subject to Regulation C and HMDA. In addition, the reporting and disclosure requirements have been modified, along with revisions to the data that must be collected. These changes require that entities subject to Regulation C and HMDA carefully review and understand these changes in order to ensure that their reporting is compliant. This topic will walk through the primary changes imposed by the final rule. This topic will also assist companies subject to Regulation C and HMDA understand the new requirements to help ensure compliant reporting.
Who should attend?
- Brief Overview of HMDA and Regulation C
- Summary of the Elements of HMDA and Regulation C Impacted by the CFPB's ChangesAmended Scope
- Changes to Entities Subject to HMDA and Regulation C
- Changes to Transactions Covered by HMDA and Regulation CChanges to Data Collected and Reporting
- Modified and Expanded Data Collected
- Changes to Collection and Reporting
- Changes to Submission of ReportingOther Changes and Conclusion
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