- Comments on HMDA are due to the Federal Reserve Board by April 1. 2002.
- Comments are due at FinCEN by April 15, 2002 on the proposed Information Sharing regulations.
- Comments are due at FinCEN by April 22, 2002 on the proposed Designation of Exempt Person Form.
- April is Fair Housing Month. Schedule training on fair lending. Be sure to discuss predatory lending and CRA to tie them all together.
- Schedule a training update for lenders on predatory lending and new HOEPA disclosure requirements.
- After training, schedule a fair lending audit. Use the fair lending examination procedures to set your audit scope.
- Also do a HOEPA audit. Look at your higher cost loans and balloon loans to see if they set off the new HOEPA triggers.
- Watch for possible publication of proposals to revise CRA. It is early days yet, but it could happen.
- We may also see final rule-making on several other regulatory proposals including FCRA and Regulation B monitoring data.
Copyright © 2002 Compliance Action. Originally appeared in Compliance Action, Vol. 7, No. 3, 3/02
First published on 03/01/2002