This story appeared in Bank Digest.
The CFPB has finalized a rule amending the official commentary that interprets the requirements of Regulation C--Home Mortgage Disclosure (12 CFR 1003) to reflect a change in the asset-size exemption threshold for banks, savings associations and credit unions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The exemption threshold is adjusted to increase to $42 million from $41 million based on the 2.23 percent increase in the average of the CPI-W for the 12-month period ending in November 2012. As a result, institutions with assets of $42 million or less as of Dec. 31, 2012, are exempt from collecting data in 2013. The bureau asserts that an institution's exemption from collecting data in 2013 does not affect its responsibility to report data it was required to collect in 2012.