Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
The Consumer Financial Protection Bureau (Bureau) is issuing a final rule amending the official commentary that interprets the requirements of the Bureau's Regulation C (Home Mortgage Disclosure) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Annual adjustments
- The exemption threshold is adjusted to increase to $56 million from $54 million. The adjustment is based on the 4.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2023. Therefore, banks, savings associations, and credit unions with assets of $56 million or less as of Dec. 31, 2023, are exempt from collecting data in 2024.
- The exemption threshold is adjusted to increase to $54 million from $50 million. The adjustment is based on the 8.6 percent increase in the average of the CPI-W for the 12-month period ending in November 2022. Therefore, banks, savings associations, and credit unions with assets of $54 million or less as of Dec. 31, 2022, are exempt from collecting data in 2023.
- The exemption threshold is adjusted to increase to $50 million from $48 million. The adjustment is based on the 4.7 percent increase in the average of the CPI-W for the 12-month period ending in November 2021. Therefore, banks, savings associations, and credit unions with assets of $50 million or less as of Dec. 31, 2021, are exempt from collecting data in 2022.
- The exemption threshold is adjusted to increase to $48 million from $47 million. The adjustment is based on the 1.3 percent increase in the average of the CPI-W for the 12-month period ending in November 2020. Therefore, banks, savings associations, and credit unions with assets of $48 million or less as of Dec. 31, 2020, are exempt from collecting data in 2021.
- The exemption threshold is adjusted to increase to $47 million from $46 million. The adjustment is based on the 1.6 percent increase in the average of the CPI-W for the 12-month period ending in November 2019. Therefore, banks, savings associations, and credit unions with assets of $47 million or less as of Dec. 31, 2019, are exempt from collecting data in 2020.
- The exemption threshold is adjusted to increase to $46 million from $45 million. The adjustment is based on the 2.6 percent increase in the average of the CPI-W for the 12-month period ending in November 2018. Therefore, banks, savings associations, and credit unions with assets of $46 million or less as of Dec. 31, 2018, are exempt from collecting data in 2019.
- The exemption threshold is adjusted to increase to $45 million from $44 million. The adjustment is based on the 2.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2017. Therefore, banks, savings associations, and credit unions with assets of $45 million or less as of Dec. 31, 2017, are exempt from collecting data in 2018.
- The exemption threshold will remain at $44 million. This amount is based on the 0.8 percent increase in the average of the CPI-W for the 12-month period ending in November 2016. Therefore, banks, savings associations, and credit unions with assets of $44 million or less as of Dec. 31, 2016, are exempt from collecting data in 2017.
- The exemption threshold will remain at $44 million. This amendment is based on the 0.4 percent decrease in the average of the CPI-W for the 12-month period ending in November 2015. Therefore, banks, savings associations, and credit unions with assets of $44 million or less as of Dec. 31, 2015, are exempt from collecting data in 2016.
- The exemption threshold is adjusted to increase to $44 million from $43 million. The adjustment is based on the 1.1 percent increase in the average of the CPI-W for the 12-month period ending in November 2014. Therefore, banks, savings associations, and credit unions with assets of $44 million or less as of Dec. 31, 2014, are exempt from collecting data in 2015.
- The exemption threshold is adjusted to increase to $43 million from $42 million. The adjustment is based on the 1.4 percent increase in the average of the CPI-W for the 12-month period ending in November 2013. Therefore, banks, savings associations, and credit unions with assets of $43 million or less as of Dec. 31, 2013, are exempt from collecting data in 2014.
- The exemption threshold is adjusted to increase to $42 million from $41 million. The adjustment is based on the 2.23 percent increase in the average of the CPI-W for the 12-month period ending in November 2012. Therefore, banks, savings associations, and credit unions with assets of $42 million or less as of Dec. 31, 2012, are exempt from collecting data in 2013.
- Issued rule amending the official commentary that interprets the requirements of the Bureau’s Regulation C to reflect a change in the asset-size exemption threshold.
- The exemption threshold has been adjusted to increase to $41 million from $40 million. The adjustment is based on the 3.43 percent increase in the average of the CPI-W for the twelve-month period ending in November 2011. Therefore, depository institutions with assets of $41 million or less as of Dec. 31, 2011 are exempt from collecting data in 2012.