CFPB sign Consumer Financial Protection Bureau building in Washington, D.C. Photo by Diego M. Radzinschi

Credit unions are increasingly burdened by the reporting requirements of the Home Mortgage Disclosure Act even though there is no evidence of discrimination by those institutions, credit union trade groups have told the CFPB.

“It is increasingly difficult for credit unions to effectively participate in the mortgage lending market when they are forced to comply with rules not tailored to their size or structure,” Alexander Monterrubio CUNA’s senior director of advocacy and counsel told the agency.

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Credit Union Times

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