Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
CFPB issues final HMDA rule for relief to smaller institutions
The Consumer Financial Protection Bureau has announced its approval of a rule that finalizes certain aspects of its May 2019 Notice of Proposed Rulemaking under the Home Mortgage Disclosure Act (HMDA). It extends for two years the current temporary threshold for collecting and reporting data about open-end lines of credit under HMDA. The rule also clarifies partial exemptions from certain HMDA requirements that Congress added in the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).
The rule will be effective in two stages, on January 1, 2020, and January 1, 2022.
The CFPB intends to issue a separate final rule next year addressing changes to the permanent thresholds for closed-end and open-end transactions.
UPDATE: Published 10/29/2019.