CFPB turns its reg relief focus to HMDA. The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
Get started filing your HMDA data for 2018. Beginning with hmda data collected in or after 2017, financial institutions will use the HMDA Platform to upload their loan/application registers (LARs), review edits, certify the accuracy and completeness of the data, and submit data for the filing year.
· On Thursday, December 22, PHH and the Solicitor General of the United States filed briefs in response to the CFPB’s petition for en banc review in PHH v. CFPB.. As we have previously discussed, in PHH a three judge D.C. circuit panel held that the CFPB’s current single-director structure violated the separation of powers, and that, to remedy this constitutional violation, the Director of.
In the Fall 2018 agenda’s preamble, the CFPB attributed the rulemaking’s new status to the Bureau’s need to focus additional resources on various HMDA initiatives. In its complaint, the CRC claims that the Bureau’s current HMDA activities, unlike Section 1071 rulemaking, were not mandated by Congress and are "directed at discretionary.
· house financial services Chairman Jeb Hensarling (RTX), has long criticized the CFPB for imposing regulations under Dodd-Frank which are considered burdensome to financial institutions. Hensarling said that the Bureau overstepped its mandate with the HMDA reporting requirements and that the regulation is hurting consumers by restricting their access to capital.
Warren W. Traiger quoted in National Mortgage News article, "CFPB turns its reg relief focus to HMDA" Warren W. Traiger was quoted on May 2, 2019 in a National Mortgage News article, "CFPB turns its reg relief focus to HMDA," which discussed the Consumer Financial Protection Bureau’s steps to ease reporting requirements under the Home Mortgage Disclosure Act after the.
Consumer Compliance Requirements for Commercial Products. – Finally, as required by the Dodd-Frank Act, the CFPB issued a rulemaking proposal in 2014 to amend Regulation C to expand the scope of its coverage and to require the collection of new data fields, which could also affect reporting requirements for commercial loans.32 The proposal is pending.
The Census Bureau reports there are about 5.6mm employer firms in the US. By size, those with fewer than 20 employees (small) made up 89.0%, while those with fewer than 100 employees (smaller-medium sized) accounted for 98.2%.It’s a well-established fact that small and mid-sized businesses (SMBs) are among community banks’ most lucrative and most loyal customers.