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Tuesday, December 31, 2013

CFPB Announces HMDA Asset-Size Exemption Increase

As required by the Home Mortgage Disclosure Act (HMDA) under Regulation C, the CFPB adjusted the asset-size exemption threshold for banks, savings associations, and credit unions to $43 million from $42 million. The annual increase is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers.

The rule will be effective January 1, 2014 and will apply to data collection in 2014.

Read more.

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