The Consumer Financial Protection Bureau issued two annual threshold adjustment final rules under the Home Mortgage Disclosure Act and Truth in Lending Act, effective Jan. 1, 2022.
CFPB updates HMDA, TILA asset thresholds
January 03, 2022 / By ICBA
The Consumer Financial Protection Bureau issued two annual threshold adjustment final rules under the Home Mortgage Disclosure Act and Truth in Lending Act, effective Jan. 1, 2022.
The Consumer Financial Protection Bureau issued two annual threshold adjustment final rules under the Home Mortgage Disclosure Act and Truth in Lending Act, effective Jan. 1, 2022.
HMDA (Regulation C): The asset threshold at which banks are exempt from collecting data increased to $50 million in 2022 from $48 million.
TILA (Regulation Z): Creditors with assets of less than $2.336 billion as of Dec. 31, 2021, are exempt from establishing escrow accounts for higher-priced mortgage loans in 2022, if other Reg Z requirements also are met.
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