The Consumer Financial Protection Bureau today issued a proposal to raise the threshold at which banks are required to report data on home equity lines of credit. Under the rule, banks originating more than 100 HELOCs are generally required to report under HMDA. The proposal would raise that threshold to 500 HELOCs for the calendar years 2018 and 2019, giving the CFPB time to determine if it will make the adjustment permanent. Comments on the proposal are due by July 31.
FDIC rescinds guidance on representment NSF fees
The FDIC rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be a deceptive or unfair practice under section 5 of the Federal Trade Commission Act.









