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CBA Statement on Proposed CFPB HMDA Rules
Washington, D.C. (July 24, 2014) – CBA’s General Counsel, Steve Zeisel, released the following statement after the Consumer Financial Protection Bureau issued a proposal to expand Home Mortgage Disclosure Act (HMDA) data collection fields:
“The CFPB’s proposal will substantially increase the amount of publicly available information financial institutions must report on home mortgages. CBA will provide comments on the proposal, to ensure any consumer privacy concerns and increased compliance costs do not outweigh the benefits of additional data reporting.”
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.
The Consumer Bankers Association is the recognized voice on retail banking issues in the nation’s capital. Founded in 1919, CBA provides leadership, education, research and federal representation on retail banking issues. For more information, please contact Tom Crosson, email@example.com, (703) 869-1246 or visit www.consumerbankers.com.