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CFPB · Final rule; official interpretation FR Doc. 2024-30652 · Published

HMDA (Regulation C): asset-size exemption threshold raised to $58 million for 2025

The CFPB raised the Regulation C asset-size exemption threshold for banks, savings associations and credit unions from $56 million to $58 million, so institutions with assets of $58 million or less as of December 31, 2024 are exempt from collecting HMDA data in 2025. The exemption does not change the duty to report data that was required to be collected in 2024.

Review recommendedEffective Jan 1, 2025All checks passedRead the interpretation ↗ (opens in a new tab)

Loan impact

From the interpretation text · verified

Applies to: Banks, savings associations and credit unions with assets of $58 million or less as of December 31, 2024 are exempt from collecting HMDA data in 2025.

Affected area
DataGuide Section 2(g)–2
Exceptions
Data required to be collected in 2024 must still be reported
Effective
Jan 1, 2025
Applicability confidence
Verified: every row above is supported by the source text
Supporting quotes from the interpretation
  • exceptions“An institution’s exemption from collecting data in 2025 does not affect its responsibility to report data it was required to collect in 2024.”
  • affected areas“Institutions with assets of $58 million or less as of December 31, 2024, are exempt from collecting data in 2025.”
  • guide sections“Pursuant to this final rule, comment 2(g)–2 in Regulation C, supplement I, is amended to update the exemption threshold.”

What changed

From the interpretation text · Section Supplement I to Part 1003, comment 2(g)–2
RequirementPreviouslyNow
Asset-size exemption threshold for depository institutionsRelaxedPreviously: The threshold was $56 million for 2024.The threshold is $58 million for data collection in 2025.

Also affected: Section 2(g)–2.

What to do

AWACS interpretation · not source language

What to review: No change is mandatory. Start by checking whether your institution, as a bank, savings association or credit union, had assets at or below $58 million (up from $56 million) as of December 31, 2024. If it did, it may choose not to collect HMDA data in 2025 under the relaxed threshold effective January 1, 2025, but it must still report data it was required to collect in 2024.

QC implications

  • Check that any institution relying on the exemption for 2025 data collection had assets of $58 million or less as of December 31, 2024.
  • Check that the exemption is not applied to data that was required to be collected in 2024, which must still be reported.

Source and record

Version 1 · archived

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