Removing Barriers Blog

CUNA Urges CFPB to Reduce HMDA Reporting Requirements
Posted October 15, 2019 by CUNA Advocacy

Today, CUNA filed a comment letter with the CFPB in response to an ANPR seeking input on the HMDA data points required under the Bureau’s 2015 HMDA rule.

While CUNA understands and supports the purpose of HMDA, we believe any benefits obtained from the data points added by the 2015 HMDA rule pursuant to the CFPB’s discretionary authority will not outweigh the cost and burden to credit unions.

Therefore, we urge the CFPB to eliminate the data points added in Regulation C pursuant to the CFPB’s discretionary authority.