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CFPB takes steps to make residential mortgage data more accessible
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Thursday, February 13, 2014
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The Consumer Financial Protection Bureau (CFPB) has announced plans to advance the scope of the Home Mortgage Disclosure Act (HMDA) to help bring more detailed information to light about residential mortgages.
The HMDA was enacted by Congress in 1975. Its function is to provide data that can be used to assess whether lending institutions are helping fulfill the housing needs within communities and that they are lending in a way that is non-discriminatory.
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