CFPB Looks To Ease Small Banks' Line-Of-Credit Reporting

Law360, New York (July 14, 2017, 2:59 PM EDT) -- The Consumer Financial Protection Bureau issued a proposed change Friday to a mortgage rule that would allow most community banks and credit unions to escape reporting on home equity lines of credit.

The CFPB's proposal would raise the threshold for small banks and credit unions to report data related to open-ended home equity loans under the 1975 Home Mortgage Disclosure Act. Above, bureau Director Richard Cordray in March 2015. (AP) The CFPB’s proposal would raise the threshold for small banks and credit unions to report data...
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