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CFPB RIN: 3170-AA76 Publication ID: Spring 2020 
Title: Home Mortgage Disclosure Act (Regulation C)  
Abstract:

The Bureau announced in December 2017 that it intended to open a rulemaking to reconsider various aspects of a 2015 final rule that amended regulations implementing the Home Mortgage Disclosure Act (HMDA). The Bureau issued a Notice of Proposed Rulemaking in May 2019 to seek comment on thresholds for collecting and reporting data with respect to open-end lines of credit as well as on thresholds for collecting and reporting data with respect to closed-end mortgage loans. The NPRM also proposed to incorporate into Regulation C an interpretive and procedural rule that the Bureau issued in August 2018 to clarify partial HMDA exemptions created by the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018.

In August 2019, the Bureau reopened the comment period for certain aspects of the proposed rule. The reopened comment period gave interested parties an opportunity to review the Bureau’s annual overview of residential mortgage lending based on the HMDA data financial institutions collected in 2018, as requested by a variety of stakeholders, before they submitted their comments. The Bureau determined that it would issue two final rules at different times to address different aspects of the NPRM. The Bureau issued the first final rule in October 2019. It finalized the proposed two-year extension of the 500-loan temporary threshold for collecting and reporting data on open-end lines of credit and incorporated into Regulation C the EGRRCPA partial exemption provisions.  The Bureau intends to issue a second final rule in April 2020 that will address the proposed changes to the permanent thresholds for collecting and reporting data on open-end lines of credit and closed-end mortgage loans.

 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  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
Timetable:
Action Date FR Cite
NPRM  04/02/2017  82 FR 19142   
NPRM Comment Period End  05/25/2017 
Final Rule  09/13/2017  82 FR 43088   
Final Rule Effective  01/01/2018 
NPRM  05/13/2019  84 FR 20972   
NPRM Comment Period End  06/12/2019 
NPRM Comment Period Reopened  08/02/2019  84 FR 37804   
NPRM Comment Period Reopened End  10/15/2019 
Final Rule  10/29/2019  84 FR 57946   
Final Rule Effective  01/01/2020 
Final Rule  04/16/2020  85 FR 28364   
Final Rule Effective  07/01/2020 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: https://www.consumerfinance.gov/policy-compliance/rulemaking/rules-under-development/  
RIN Data Printed in the FR: No 
Related RINs: Related to 3170-AA64, Related to 3170-AA85, Related to 3170-AA97 
Agency Contact:
Alexandra Reimelt
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700