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CFPB | RIN: 3170-AA76 | Publication ID: Fall 2018 |
Title: Home Mortgage Disclosure Act (Regulation C) | |
Abstract:
The Bureau announced in December 2017 that it intends to open a rulemaking to reconsider various aspects of a 2015 final rule that amended regulations implementing the Home Mortgage Disclosure Act. The reconsideration could involve such issues as the institutional and transactional coverage tests and the rule’s discretionary data points. The Bureau also specifically expects to follow up on its action in August 2017 to amend Regulation C to increase the threshold for collecting and reporting data with respect to open-end lines of credit for a period of 2 years so that financial institutions originating fewer than 500 open-end lines of credit in either of the preceding 2 years would not be required to begin collecting such data until January 1, 2020. The Bureau indicated in August 2017 that it intended to conduct follow-up rulemaking before January 1, 2020 to consider whether to make permanent adjustments to the open-end threshold. The Bureau anticipates engaging in notice-and-comment rulemaking to incorporate an interpretive and procedural rule that it issued in August 2018 to clarify partial HMDA exemptions created by the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018. The Bureau is considering these various HMDA projects in conjunction with each other and expects to issue a Notice of Proposed Rulemaking in spring 2019 to address some or all of the issues related to them.
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Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 12 CFR 1003 | |
Legal Authority: 12 U.S.C. 2801 to 2810 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Related RINs: Related to 3170-AA64 | |
Agency Contact: Alexandra Reimelt Office of Regulations Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7700 |