Relief From HMDA Requirements May Go Further Than FIs Realize
American Banker spoke to Richard Andreano, a leader of Ballard Spahr’s Mortgage Banking Group, about whether reforms that reduced Home Mortgage Disclosure Act reporting fields for small lenders mean that data collection is still required—a point of confusion for many financial institutions.
"I don't think this has a large effect on CRA or fair-lending,” Mr. Andreano said. “It doesn't stop the agencies on a case-by-case basis from getting whatever fair-lending data they can get."
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