Comments due on CFPB RFI regarding HMDA Reg C
The CFPB has announced its has issued a Request for Information (RFI) to seek input on rules implementing the Home Mortgage Disclosure Act (HMDA). The CFPB plans to review recent changes to the rule and evaluate their effectiveness. This evaluation will strengthen the CFPB’s ability to maintain a fair, competitive, and non-discriminatory mortgage market.
The CFPB is seeking comments on its plans to assess the effectiveness of the HMDA Rule. Specifically, the CFPB will focus on:
- Institutional coverage and transactional coverage;
- Data points;
- Benefits of the new data and disclosure requirements; and
- Operational and compliance costs.
The RFI will remain open for 60 days after publication in the Federal Register.
Publication and comment period update: Published at 86 FR 66220 on 11/22/2021, with a comment period ending in 60 days, on 01/21/2022.