Regulatory AlertsCA 20-1: Revised A Guide to HMDA Reporting Getting It Right
The Board of Governors of the Federal Reserve System issued Consumer Affairs Letter CA 20-1 to distribute a revised version of the interagency guide for Home Mortgage Disclosure Act (HMDA) compliance. This updated guidance assists financial institutions in meeting data collection and reporting requirements for HMDA data beginning January 1, 2020, incorporating amendments from the Dodd-Frank Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act. The letter directs all Federal Reserve-supervised institutions to utilize the guide to ensure accurate implementation of Regulation C as modified by recent CFPB rules.
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