CFPB raises HMDA, Reg Z thresholds for 2023

The CFPB has finalized annual changes to asset-size exemption thresholds under the Home Mortgage Disclosure Act (HMDA) and Regulation Z based on the 8.6 percent increase in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the 12-month period ending in November 2022.

Under HMDA, the bureau increased the exemption threshold to $54 million from $50 million. Credit unions with assets of $54 million or less as of Dec. 31, 2022, are exempt from collecting data in 2023. However, an institution’s exemption from collecting data in 2023 does not affect its responsibility to report data it was required to collect in 2022. NAFCU discussed changes to HMDA reporting thresholds in a recent post in the Compliance Blog.