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Posted To: Pipeline Press

Fun with HMDA! Compliance folks everywhere know that yesterday the CFPB (“educate through education rather than enforcement”) issued a final rule amending Regulation C to extend the current temporary threshold of 500 open-end lines of credit to January 1, 2022. The final rule also incorporates into Regulation C the interpretations and procedures from the interpretive and procedural rule issued by the Bureau in August 2018, and further implements the amendments made to the Home Mortgage Disclosure Act by the Economic Growth, Regulatory Relief, and Consumer Protection Act. You can access the final rule here. The Bureau has also posted a summary of the final rule and an unofficial, informal redline reflecting changes to Regulation C to assist industry and other stakeholders. Lender…(read more)

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