Regulatory Alerts2017-12-21
Expectations for Supervised Institutions Regarding Amended Regulation C
The Federal Reserve Board issued guidance to all supervised institutions regarding compliance with the Consumer Financial Protection Bureau's amendments to Regulation C. For HMDA data collected in 2018 and reported in 2019, the Board will not require resubmission or assess penalties for non-material errors, treating examinations as diagnostic to support good faith compliance efforts. Institutions must continue to submit 2017 data in 2018 in accordance with the existing Regulation C requirements.
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