In connection with the release of its latest semi-annual regulatory agenda, the CFPB announced that it will assess the October 2015 significant amendments to Regulation C under the Home Mortgage Disclosure Act (HMDA), and that it will not pursue other HMDA rulemakings.
The Dodd-Frank Act requires that the CFPB conduct an assessment of each significant rule or order it has adopted under federal consumer financial law and publish a report of each assessment no later than five years after the effective date of the rule or order. The CFPB advises that it recently decided to assess the October 2015 amendments, most of which became effective on January 1, 2018. Significantly, the CFPB also announced that "in light of our other rulemaking priorities, we are no longer pursuing two HMDA rulemakings that were listed in the proposed rule stage in previous agendas - one that concerns the data points that lenders must report and another related to the public disclosure of HMDA data." As a result, for the meantime, the CFPB will no longer pursue the advance notice of proposed rulemaking issued in May 2019 regarding HMDA data points, or its consideration of replacing its guidance on the public issuance of HMDA data with a formal rule.
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