Penalty for HMDA, CRA submission? - Mary Beth Guard

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Penalty for HMDA, CRA submission?
by Mary Beth Guard

Question: What is the penalty for an institution's failure to submit HMDA and CRA data by the March 1 deadline?

Answer: There are administrative sanctions, including civil money penalties, scrubs of year�s worth of data if integrity is questioned (a very expensive proposition in itself), and increased expectations of future submissions.

First published on BankersOnline.com 05/24/04

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