US banks no longer need to report home loan data that regulators already collect

The US Treasury's Office of the Comptroller of the Currency wants to stop collecting certain home loan data from national banks. It says this data is already collected by other agencies and is not very useful.

This change means national banks will have slightly less paperwork to do when processing home loans. The data in question was originally meant to help track fair housing practices, but regulators say they get the same information elsewhere. It removes a specific, redundant reporting requirement that only applied to national banks.