Home Mortgage Disclosure (Regulation C): Adjustment to Asset-Size Exemption Threshold (CFPB; Final Rule)

The Bureau of Consumer Financial Protection (the "Bureau") is publishing a final rule amending the official commentary that interprets the requirements of the Bureau’s Regulation C (Home Mortgage Disclosure) to reflect a change in the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI–W). The exemption threshold is adjusted to increase to $42 million from $41 million. The adjustment is based on the 2.23 percent increase in the average of the CPI–W for the 12-month period ending in November 2012. Therefore, banks, savings associations, and credit unions with assets of $42 million or less as of December 31, 2012, are exempt from collecting data in 2013.

Date: This final rule is effective as of December 31, 2012.

View Final Rule (OCC website).See also: Press Release.