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Open-End Changes

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Question: 
Will the new open-end reporting threshold of 200 originated lines in each of the two prior calendar years also go into effect as of July 1, 2020?
Answer: 

No. The industry will continue to operate under the temporary threshold of 500 open-end lines until December 31, 2021. Effective January 1, 2022, the threshold will be 200 originated open-end lines of credit in each of the prior two calendar years (2020 and 2021).

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Learn more about Kathleen Blanchard’s webinar New HMDA Changes

First published on 05/03/2020

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