I know that regulatory issues are an important part of the Financial Services Roundtable’s agenda this year. Today, I want to touch on three regulatory issues that are currently high on the list of both bankers and supervisors: new disclosures under the Home Mortgage Disclosure Act (HMDA), Bank Secrecy Act compliance and Basel II implementation.
HMDA Price Data Disclosure The importance of effective risk management is brought into sharp focus by the imminent public release of home mortgage price data by lenders such as your organizations. Lenders covered by HMDA will have to make additional information about their home loans, including, for the first time, price information, available to the public as early as today.