CFBP Reopens Comment Period Letters Due Oct. 15

Wednesday, the Consumer Financial Protection Bureau (Bureau) announced that it is reopening the comment period for certain aspects of the May 2019 Notice of Proposed Rulemaking relating to Regulation C, which implements the Home Mortgage Disclosure Act. The Bureau’s proposal calls for increasing HMDA reporting thresholds for closed-end mortgages to 50 or 100 loans (up from the current 25) and extending the current temporary thresholds of 500 open-end lines of credit until Jan. 1, 2022.

Specifically, the Bureau requests comments on the Bureau’s:

  • Proposed changes to the permanent coverage threshold for closed-end mortgage loans;
  • Proposed changes to the permanent coverage threshold for open-end lines of credit; and
  • The appropriate effective date for any change to the closed-end coverage threshold.

Comments must be received by October 15, 2019.  The notice announcing the reopening of the comment period is available here.