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ABA: The American Bankers Association

ABA Statement on CFPB HMDA Proposals

“ABA appreciates the CFPB's proposals to raise the coverage thresholds for collecting and reporting data under the Home Mortgage Disclosure Act rule. We will analyze these amendments to ensure they appropriately exempt smaller institutions that account for only a minor portion of the mortgage market, while preserving HMDA’s intent.

“We also appreciate that the Bureau is seeking views on the costs and benefits of HMDA's expanded reporting requirements. HMDA was always intended as an early-warning tool to assess if discrimination may be taking place in mortgage lending, and it is important to both borrowers and lenders – particularly smaller, community banks – that the information collected by the Bureau is truly relevant and compliance does not end up inadvertently raising borrowing costs for consumers. We look forward to sharing our members’ views and working with the CFPB as this process moves forward.”


About the American Bankers Association

The American Bankers Association is the voice of the nation’s $21.1 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $17 trillion in deposits and extend nearly $11 trillion in loans.

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