The Home Mortgage Disclosure Act was enacted by Congress in 1975 and implemented by the Federal Reserve Board’s Regulation C. On July 21, 2011, the rule-writing authority of Regulation C was transferred to the CFPB. Although this regulation seems to be black and white on the surface, many institutions would agree that it can sometimes be grey.

HMDA helps determine whether financial institutions are serving the housing needs of their communities. Additionally, it helps public officials in distributing public-sector investments, so as to attract private investments to areas where they are needed. In the most recent years in the fair lending world, it is used in identifying possible discriminatory lending patterns. HMDA is a requirement for most financial institutions that meet the following qualifications:

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