CFPB Updates HMDA Asset-Size Exemption Thresholds

The CFPB on Dec. 23 announced the annual adjustment to the asset-size exemption thresholds for banks reporting data under the Home Mortgage Disclosure Act (Regulation C). The final rule increased the threshold so banks with assets of $50 million or less on Dec. 31 are exempt from collecting data in 2022. The change is based on 4.7% increase in the consumer price index for a 12 month period ending in November. The adjustments take effect on Jan. 1. Read more.‌

Meanwhile, the CFPB adjusted the asset-size exemption threshold for financial institutions required to establish an escrow account for higher-priced mortgages under the Truth in Lending Act (Regulation Z), which will rise to $2.336 billion effective Jan. 1.