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A tale of two signs? HMDA lobby notices

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Recently, we received a great question from a NAFCU member on HMDA implementation. While the new HMDA rules change the lobby notice disclosures, what about the current rule’s requirement? Specifically, the rule requires credit unions that are subject to HMDA reporting make modified data available to the public to 3 years and post a disclosure statement for 5 years. Here are some key excerpts from section 1003.5:(d) Availability of data. A financial institution shall make its modified register available to the public for a period of three years and its disclosure statement available for a period of five years. An institution shall make the data available for inspection and copying during the hours the office is normally open to the public for business. It may impose a reasonable fee for any cost incurred in providing or reproducing the data. continue reading »last_img read more

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