BANK Wire – CFPB to expand HMDA reporting

Description

Abstract: In this issue, “BANK Wire” describes changes that the Consumer Financial Protection Bureau is considering to improve and expand data collection under the Home Mortgage Disclosure Act. It notes the most common fraud schemes in the banking and financial services industry, according to the Association of Certified Fraud Examiners’ 2012 Report to the Nations on Occupational Fraud and Abuse. And it observes that the FDIC has adopted a final rule prohibiting certain “bad actors” from buying failed banks.