More small banks are now exempt from tracking mortgage data
What happened
The Consumer Financial Protection Bureau raised the asset threshold for banks that must report detailed mortgage data. Banks with $58 million or less in assets no longer have to collect this information.
Why it matters
Every year, the US government adjusts the rules for which banks must report their mortgage lending data. This small change means fewer small banks will have to track and submit this information. It reduces the administrative burden on these smaller institutions.
The signal
Watch for any changes in the number of institutions reporting mortgage data in 2025, especially among smaller community banks and credit unions.