Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold

The Bureau of Consumer Financial Protection has published in the Federal Register the asset size threshold adjustment outlined in regulation C with regard to loan data reporting requirements of financial institutions. In detail, (foreign) banks, savings associations, and credit unions must usually collect „data about their housing related lending activity“ if
(a) they are located in metropolitan areas and
(b) their total assets at year end prior to the collection period exceed the limit amount which represents the „threshold“.
This threshold gets adjusted yearly to reflect the general increase in the consumer price index (CPI). The new asset size threshold will be set at $56 million or less as of December 31, 2023. This means that banks having assets of less than this amount at year end 2023 are exempt from collecting the loan data in 2024.