Regulatory News
CFPB Warns Financial Institutions About Potential Mortgage Lending Reporting Failures
CFPB Puts 44 Mortgage Lenders and Brokers on Notice That They May Be Required to Report Mortgage Data WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is issuing warning letters to 44 mortgage lenders and mortgage brokers. The Bureau has information that appears to show they may be required to collect, record, and report data about their housing-related lending activity, and that they may be in violation of those requirements. "Financial institutions that fail to report mortgage information as required make it harder to identify and address discriminatory lending," said CFPB Director Richard Cordray. "No mortgage lender that is required to report their loan data can avoid this responsibility." The Home Mortgage Disclosure Act, which was originally enacted in…
FDIC Releases Updated Summary of Deposits Annual Survey
The Federal Deposit Insurance Corporation (FDIC) Friday released the survey of branch office deposits as of June 30, 2016, for all FDIC-insured institutions. The Summary of Deposits (SOD) annually provides deposit totals for each of the more than 91,000 domestic offices operated by more than 6,000 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks. Users can locate offices in a particular geographic area and create custom market share reports for a geographic area such as state, county, and metropolitan area. The FDIC has expanded the market share reports to allow users to see market growth and market presence for specific institutions. Data dating back to 1994 can be downloaded for analysis. To receive annual updates of the SOD, go to the…
Federal Financial Institutions Examination Council Announces Availability of 2015 Data on Mortgage Lending
Archive note. What follows is the FFIEC’s own announcement of the 2015 HMDA data, reproduced here as it was issued in 2016. Every figure in it is the FFIEC’s, not RATA’s. One thing worth carrying forward if you are working with this vintage today: as the release states below, the 2015 data use the census tract delineations and the 2006–2010 American Community Survey data from the 2010 Census. Comparing that year against a recent filing year therefore crosses a census boundary change, which is the same caution the release raises and the reason tract-level comparisons across vintages need care. How tract assignment is done and why match rate is a different measure from accuracy is set out in how RATA measures geocoding accuracy. For the current filing cycle rather than 2015, see…
Federal Financial Institutions Regulatory Agencies Announce Availability of 2015 Small Business, Small Farm, and Community Development Lending Data
Archive note. This reproduces the joint announcement issued by the Federal Reserve, FDIC and OCC in 2016 on the availability of 2015 CRA small business, small farm and community development lending data. It is kept as a dated record; the figures and links are the agencies’, not RATA’s. For CRA reporting in the current cycle, see Comply HMDA/CRA/SBL. The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities — the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency — announced today the availability of data on small business, small farm, and community development lending reported by…
Agencies release final revisions to interagency questions and answers regarding community reinvestment
The federal bank regulatory agencies with responsibility for Community Reinvestment Act (CRA) rulemaking today published final revisions to "Interagency Questions and Answers Regarding Community Reinvestment". The Questions and Answers document provides additional guidance to financial institutions and the public on the agencies' CRA regulations. The new and revised guidance addresses questions raised by bankers, community organizations, and others regarding the agencies' CRA regulations in the following areas: Availability and effectiveness of retail banking services. Innovative or flexible lending practices. Community development-related issues, including: (i) economic development; (ii) community development loans and activities that revitalize or stabilize underserved nonmetropolitan…
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