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ABA requests pause of HMDA expansion
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Banking, Legislation
Wednesday, May 3, 2017
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The American Bankers Association (ABA) has requested that the Consumer Financial Protection Bureau rescind requirements for the collection of any Home Mortgage Disclosure Act (HMDA) data that is not explicitly spelled out in law, and for Congress to revoke the new HMDA data elements added by the Dodd-Frank Act.
The latest changes to HMDA were finalized in the fall of 2015 and are set to take effect beginning Jan. 1, 2018.
Read on to learn more about the ABA's position, and what it would like to see happen in the next eight months.
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