Regulatory Advocacy at Work: Make your voice heard
The League routinely monitors upcoming regulatory issues and submits comment letters on behalf of Wisconsin credit unions. This important advocacy function of The League cannot be done without your assistance. Your feedback allows us to provide a more accurate and persuasive message to regulators. Thank you in advance for your input.
CFPB: HMDA (Reg. C) Data Points & Coverage
What’s at stake
The CFPB is asking for comments on whether to make changes to the data points that lenders must collect under Reg. C (which are the Home Mortgage Disclosure Act, or HMDA, rules). The Bureau is also asking for comments on the requirement that lenders report certain business- or commercial-purpose transactions under Reg. C, to help the CFPB decide whether it should “exclude such transactions from HMDA's requirements.”
Make your voice heard
The League will submit a comment letter on behalf of Wisconsin credit unions, but we need your help. The CFPB has asked for input on a series of questions (listed in this June 28, 2019 Compliance Courier). Credit unions can give us the information we need to answer those questions and draft an effective comment letter, since your staff may see operational issues that we’re not aware of.
Please send your thoughts – on any or all of the CFPB’s questions – to Paul Guttormsson by Oct. 8, so that we can submit our comment letter by the Oct. 15 CFPB deadline.