CFPB Adopts Final Rule To Expand HMDA Data Collection
The changes to Regulation C that implement the Home Mortgage Disclosure Act will require credit unions and other financial institutions to collect more data on a larger scope of mortgage loan products, including home equity lines of credit. The credit union trades associations had lobbied hard to have credit unions excluded from the burdensome expanded data collection requirements, but the CFPB did not choose to go in that direction. [10/16/15]
