CFPB Raises Asset Threshold Triggering HMDA Reporting Requirements

As of January 1, 2022, the CFPB has changed the threshold size at which banks, savings associations, and credit unions must collect and report data about their housing-related lending pursuant to HMDA.  Now, only financial institutions with more than $50 million in assets—up from $48 million previously—must comply with this provision of HMDA.