Search Results for keywords:"savings associations"

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Search Results: keywords:"savings associations"

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  • 2024-30652 — Home Mortgage Disclosure (Regulation C) Adjustment to Asset-Size Exemption Threshold
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    Type:Rule
    Citation:89 FR 105429
    Reading Time:about 10 minutes

    The Consumer Financial Protection Bureau (CFPB) has updated the asset-size exemption threshold for banks, savings associations, and credit unions under the Home Mortgage Disclosure Act (HMDA) to $58 million for 2025, based on an average 2.9% increase in the Consumer Price Index. This change means that institutions with assets of $58 million or less as of December 31, 2024, will not have to collect certain data in 2025. The amendment, which eliminates the need for public comment due to its technical and non-discretionary nature, will take effect on January 1, 2025.

    Simple Explanation

    The CFPB updated a rule to help small banks by raising a money limit, so banks with less than $58 million don't need to gather certain information next year. This change happened because prices have gone up, like when you need more allowance because toys cost more.

  • 2025-02261 — Proposed Agency Information Collection Activities; Comment Request
    Type:Notice
    Citation:90 FR 9031
    Reading Time:about 4 minutes

    The Board of Governors of the Federal Reserve System is seeking public comments on their proposal to extend an information collection exercise for another three years. This proposal pertains to the Notice of Proposed Declaration of Dividend, known as FR 1583, which requires certain savings associations to notify the Federal Reserve before declaring dividends. The Board is inviting feedback on whether this information collection is necessary, if the burden estimates are accurate, and how it can be improved. Comments need to be submitted by April 7, 2025.

    Simple Explanation

    The Federal Reserve wants to keep a rule that makes certain banks tell them when they plan to give out money to people who own shares in the bank. They want everyone to tell them if this rule is still needed or if it should be changed.