CFPB Announces Annual Adjustments Under HMDA, TILA, and FCRA


The CFPB recently announced three annual adjustments. First, the CFPB adjusted the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C, which implements HMDA. The exemption threshold increased from $47 million to $48 million, meaning that banks, savings associations, and credit unions with assets of $48 million or less as of December 31, 2020, will be exempt from collecting data in 2021.

Second, the CFPB adjusted the threshold under TILA’s implementing regulation, Regulation Z, for the exemption to the requirement for certain creditors to establish an escrow account for a higher-priced mortgage loan. The exemption threshold increased from $2.202 billion to $2.230 billion, meaning that creditors with assets less than $2.230 billion as of December 31, 2020 are exempt from establishing escrow accounts for higher-priced mortgage loans in 2021, assuming that the other requirements of Regulation Z are also met.

Finally, the CFPB published the annual update to the maximum allowable charge that a consumer reporting agency may charge a consumer for file disclosures under Regulation V, which implements the FCRA. For 2021, the maximum allowable charge will be $13.00, increased from $12.50 in 2020.