Removing Barriers Blog

BCFP updates HMDA Small Entity Compliance Guide
Posted October 31, 2018 by CUNA Advocacy

On October 30th, the Bureau of Consumer and Financial Protection (BCFP) released an updated HMDA Small Entity Compliance Guide to reflect changes made to reporting requirements by the Economic Growth, Regulatory Relief, and Consumer Protection Act (known as S. 2155) and the 2018 HMDA Interpretive Rule.

CUNA has consistently advocated for additional HMDA relief for credit unions. As a result, in its rulemaking agenda, the Bureau announced plans to take additional action to amend the HMDA Rule. A proposed rule is expected in Spring 2019 with substantive changes to HMDA, which may include reconsidering thresholds within Regulation C.