BCFP Interpretive and Procedural Rule on Partial Exemptions from HMDA Requirements


Further guidance from the Bureau on implementation of the partial exemptions available to qualifying institutions

FIL-58-2018

October 10, 2018

Financial Institution Letter

Home Mortgage Disclosure Act (HMDA): Bureau of Consumer Financial Protection Interpretive and Procedural Rule on Partial Exemptions from HMDA Requirements


Summary:

The Bureau of Consumer Financial Protection released an interpretive and procedural rule to implement and clarify amendments to HMDA made by the Economic Growth, Regulatory Relief, and Consumer Protection Act.  The rule provides further guidance from the Bureau on implementation of the partial exemptions available to qualifying institutions pursuant to the Act.

Statement of Applicability to Institutions with Total Assets under $1 Billion:

This Financial Institution Letter applies to all FDIC-supervised institutions subject to HMDA and Regulation C.  A HMDA exemption applies to institutions with assets at or below a threshold specified in Regulation C.

Distribution:

FDIC-Supervised Institutions

Read the FIL

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