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Regulatory Advocacy

Working Together to Reduce Regulatory Burdens
Regulation Summary
Agency Consumer Financial Protection Bureau
Rule Name OMB Request - HMDA Data Collection
Comment Due Date 01/11/16

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In accordance with the Paperwork Reduction act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection, and to revise an existing information collection, titled, “Home Mortgage Disclosure (Regulation C) 12 CFR 1003.”

Comments are requested on: (a) Whether the collection if information is necessary for the proper performance of the functions of the CFPB, including whether the information will have practical utility; (b) The accuracy of the Bureaus’s estimate of the burden of the collection of information, including the validity of the methods and the assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; and (d) Ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other formas of information technology.

The information collected is saught under the recent final rule for Regulation C published October 27, 2015 that substantiall overhauled the existing HMDA requirements.