The CFPB has issued three new filings seeking to extend major regulatory information-collection requirements that directly affect how credit unions handle mortgage lending, mortgage-originator registration and member deposit disclosures. The filings, covering the Home Mortgage Disclosure Act (HMDA), the SAFE Act’s mortgage-originator rules and Truth in Savings, are scheduled to be published Dec. 10 in the Federal Register and require no new data reporting, instead continuing existing obligations.
The most substantial extension involves HMDA reporting under Regulation C, which many mortgage-lending credit unions must file each year. The CFPB uses HMDA data to track potential discriminatory lending patterns, monitor how well lenders serve local housing needs and determine how public investment aligns with community credit access.
A second filing extends Regulation G, which requires credit unions that employ mortgage loan originators to ensure those employees register with the Nationwide Mortgage Licensing System, maintain a unique identifier and disclose that identifier to members. Credit unions must also maintain written policies to ensure ongoing compliance.
The third filing continues Truth in Savings (Regulation DD) requirements, which mandate clear, standardized disclosures of fees, annual percentage yields, interest rates and key account terms. For credit unions, these disclosures remain central to member communication, competitive transparency and compliance in deposit advertising.
Collectively, the moves signal that CFPB leadership is working to sustain core consumer-protection frameworks credit unions rely on for mortgage lending, account disclosures and member transparency.
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