The Consumer Financial Protection Bureau (CFPB) has issued a final rule raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Disclosure Act (HMDA). The final rule, amending Regulation C, increases the permanent threshold for collecting and reporting data about closed-end mortgage loans from 25 to 100 loans effective July 1, 2020. The final rule will also amend Regulation C to increase the permanent threshold for collecting and reporting data about open-end lines of credit from 100 to 200, effective January 1, 2022, when the current temporary threshold of 500 of open-end lines of credit expires. In October 2019, the temporary open-end threshold was extended until January 1, 2022. Absent this most recent final rule, the open-end threshold would have reverted to 100 open-end lines of credit upon the expiration of the temporary threshold.
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