CFPB Clarifies HMDA Partial Exemptions

The CFPB issued an interpretive rule clarifying several changes to Home Mortgage Disclosure Act regulations made under S. 2155, the bipartisan regulatory reform law. The rule is intended to address concerns raised by banks about S. 2155’s partial exemptions for certain financial institutions from reporting an expanded set of HMDA data points.  The CFPB also published an executive summary on the rule and updated the Filing Instructions Guide for HMDA data collected in 2018 and the Regulatory and Reporting Overview Reference Chart.  The rule will be effective upon publication in the Federal Register.