FRIDAY! December 27, 2024

To access specific issuances, go to our Top Stories section, where you will find links to all the relevant documents.
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CFPB amends HMDA asset-size exemption for financial institutions
The CFPB has filed for public inspection with the Office of the Federal Register a final rule scheduled for publication on December 27, 2024, to adjust the asset-size exemption in the official commentary interpreting requirements of Regulation C (Home Mortgage Disclosure Act) threshold for banks, savings associations, and credit unions. The threshold is adjusted, effective January 1, 2025, from $56 million to $58 million.

Institutions with assets of $58 million or less as of December 31, 2024, are exempt from collecting data in 2025.

[Editor's note: The 12/27/2024 issue of the Federal Register was not yet available when we emailed this Compliance Briefing.]

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HUD updates webpages for states, territories, and DC
The Department of Housing and Urban Development has announced its completion of a project to update webpages for all 50 states, territories, and the District of Columbia on HUD.gov. These updated pages feature a streamlined design and trauma-informed elements, making it easier for communities nationwide to access vital resources, including affordable housing services, homeownership support, housing counseling, disaster recovery assistance, and more.

Read more about HUD's efforts HERE.

CFPB report on college banking and credit card agreements
The CFPB has released its fifteenth annual report to Congress on college credit cards as required by the Credit Card Accountability, Responsibility, and Disclosure Act (CARD Act), augmented with information on trends related to student deposit and prepaid card accounts offered and advertised to students through partnerships between colleges and financial service providers. The College Banking and Credit Card Agreements report is informed by account agreements and data from 2022 through 2023, covering over 1.4 million such accounts.

For more about the report, click HERE.







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