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Friday, October 24, 2014

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Compliance Corner: Second Quarter 2004

News You Can Use: Resource Tool Available to Review Key Changes to Regulation C (HMDA)

In the fourth quarter 2003, the Federal Reserve Bank of Philadelphia hosted two workshops to help Third District financial institutions understand the changes to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). As a follow-up to the workshops, the Reserve Bank produced a CD-ROM1 that reviews key concepts with which financial institutions subject to HMDA should be familiar before preparing the 2004 HMDA Loan Application Register (LAR).

The program, which is based on a 2003 presentation by the Federal Financial Institutions Examination Council (FFIEC), includes a video presentation by two examiners from the Reserve Bank. The interactive program also contains appropriate links to reference and resource materials, including links to the Internet.

The Federal Reserve Bank of Philadelphia recently distributed the CD-ROM to all Third District state member banks. If you are interested in obtaining the CD-ROM, please contact either Elizabeth Rozsa or Robert Snarr through the Regulations Assistance Line at (215) 574-6568.

  • 1 The CD-ROM program is compatible with Windows Media Player and RealOne.

The views expressed in this article are those of the author and are not necessarily those of this Reserve Bank or the Federal Reserve System.