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Bureau of Consumer Financial Protection Issues Rule to Implement and Clarify New HMDA Amendments
On Friday, August 31, 2018, the Bureau of Consumer Financial Protection (Bureau) issued a press release regarding an interpretive and procedural rule to implement and clarify the requirements of section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), which amended the Home Mortgage Disclosure Act (HMDA). The Bureau also released updates to the Filing Instructions Guide (FIG) for HMDA data collected in 2018 to incorporate the Act as implemented and clarified by the rule issued on Friday.
The interpretive and procedural rule is available at: https://files.consumerfinance.gov/f/documents/bcfp_hmda_interpretive-procedural-rule_2018-08.pdf
The updated Filing Instructions Guide (FIG) is available at: https://s3.amazonaws.com/cfpb-hmda-public/prod/help/2018-hmda-fig-2018-hmda-rule.pdf