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The ""Federal Reserve Board"":http://www.federalreserve.gov/ on Monday published a final rule amended to increase the asset-size exemption threshold for banks under the ""Home Mortgage Disclosure Act"":http://www.ffiec.gov/hmda/ (HMDA).
[IMAGE] [COLUMN_BREAK]In 2011, the asset-size exemption for banks will increase to $40 million from $39 million, based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPIW) for the twelve-month period ending in November 2010. Any depository institution with assets for $40 million or less as of the end of the year will be exempt from collecting data in 2011.
The CPIW increased by 2.21 percent from November 2009 to November 2010.
The HMDA requires most mortgage lenders located in metropolitan areas to collect data about their housing-related lending activity and report the data annually to their federal supervisory agencies and make the data available to the public.
Any institution that was required to collect data based on the asset-size exemption for 2010 will still be required to complete the collection for that year.
