New HMDA Guide Released
The Consumer Financial Protection Bureau (CFPB) sent out an email announcing an updated version of the “Guide to HMDA Reporting: Getting it Right”. The 2018 edition is helpful guidance for financial institutions working through complying with the recent Home Mortgage Disclosure Act (HMDA) changes effective January 1, 2018. The foreword in the 327 page guide states that the guide is intended as an easy-to-use summary of certain key requirements and does not provide detailed information about the HMDA submission process.
CLA consultants and internal auditors provide services to help financial institutions comply with HMDA. Please contact me if your institution would like assistance.
CLA’s financial institution regulatory compliance team assists banks and credit unions nationwide in establishing regulatory compliance programs, conducting compliance testing, and training staff on regulations. Justin Robinson is a member of CLA’s regulatory compliance team and can be reached at justin.robinson@CLAconnect.com.
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