NCUA Releases Research Note on Natural Disaster

The National Credit Union released a Research Note finding that roughly one-quarter of all federally insured credit unions are in communities classified as having a relatively high or very high risk of experiencing negative effects due to natural hazards. Credit Unions should review the report and ensure that their disaster recovery plans include the risks included in the report. 

HMDA Ruling 1071

by Jodi Hampton, CSG



HMDA Ruling 1071 – Are you prepared?

March 30^th, 2023 the new HMDA rule was published for small business loan HMDA data collection. This new ruling requires lenders to collect HMDA data for business loans, based on amount of loans originated by the lender.

Implementation will be governed by tiered release, with the dates and amounts of originated loans as follows:

• FI’s originating 2500 small business loans annually must start reporting HMDA data collection by 10/01/2024.
• FI’s originating 500 small business loans annually must start reporting HMDA data collection by 04/01/2025.
• FI’s originating 100 small business loans annually must start reporting HMDA data collection by 01/01/2026.

At CSG, we can help you prepare for HMDA changes. We offer review of HMDA LAR’s. These reviews can be targeted to business reporting to help you prepare for the upcoming changes.

Let us help you with your LAR today!