SOUTH BRONX / DC, Dec 1 – The Federal Reserve Board has denied a petition that they ensure public access to Home Mortgage Disclosure Act data currently maintained by the Consumer Financial Protection Bureau, as the CFPB is said to be not only shrinking but closing.
Fair Finance Watch has filed three petitions in this record and on December 1 the Federal Reserve Board replied that it is up to the FFIEC, though it acknowledges the concern. Cold comfort - this as the Federal Reserve on November 28-29 turned back FFW's comments on a pending bank merger, occasioning another submission on December 1.
Back on March 28 the Fed has announced that "the federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA framework that existed prior."
On March 31 the CFPB cut back on how HMDA data is provided; on April 2 Fair Finance Watch first petitioned the Fed "to take emergency measures to ensure public access to simply analyzable data under the Home Mortgage Disclosure Act (HMDA), including the 2024 data.
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