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Reg. C Reporting Threshold Decreases on January 1

Reg. C Reporting Threshold Decreases on January 1

Posted: Nov 23 2021
The CFPB last week issued a reminder to financial institutions that the threshold for reporting data under Regulation C and the Home Mortgage Disclosure Act (HMDA) decreases to 200 open-end lines of credit on January 1, 2022.  The new threshold, which is permanent, replaces the temporary 500 threshold.
 
The Bureau noted that beginning on January 1, institutions that originated at least 200 open-end lines of credit in each of the two preceding calendar years and meets all other Reg. C coverage criteria will be required to collect, record and report data about its open-end lines of credit.  The CFPB recently released a set of frequently asked questions regarding coverage criteria.
 
To read the FAQs and access additional HMDA resources, visit: https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/hmda-reporting-requirements/

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