Easier Mortgage Data Reporting for Small Banks.
This act changes mortgage data reporting rules, exempting smaller financial institutions from certain requirements. Banks with assets of $30 million or less will face less paperwork, potentially affecting their ability to offer loans. For citizens, this could mean easier access to loans from smaller, local institutions.
Key points
Smaller banks (with assets up to $30 million) will not need to disclose certain detailed mortgage data.
The change aims to reduce administrative burdens for small financial institutions.
This may impact the availability of mortgage loans from smaller, local banks.
Expired
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