Press Release   

COVID-19 Update: CFPB Issues Temporary Data Collection and Submission Relief

On Thursday, March 26, the CFPB issued a bulletin providing some temporary data collection and submission relief to financial institutions during COVID-19.

Institutions reporting 60,000 covered loans in the preceding calendar year were originally required to submit their first quarterly HMDA submissions in 2020 by May 30. While reporting is currently optional, RiskExec can support submissions if the rule applies to your institution and you choose to continue with submission.

Below are links to additional statements from the CFPB for ease of reference.

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The above statements do not reflect regulatory guidance from Asurity. Please consult your counsel for applicability of this guidance.

Anurag Agarwal, PhD

President, RiskExec

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