HMDA was enacted in 1975 and implemented by Regulation C. Which agency originally implemented Regulation C?

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Prepare for the McKissock Fair Housing, Fair Lending Test. Utilize flashcards and multiple-choice questions with detailed hints and explanations to ace your exam!

Multiple Choice

HMDA was enacted in 1975 and implemented by Regulation C. Which agency originally implemented Regulation C?

Explanation:
Regulation C was originally issued and implemented by the Federal Reserve Board. When HMDA became law in 1975, the Federal Reserve Board was responsible for establishing the reporting requirements and collecting mortgage lending data from lenders. Later, the Consumer Financial Protection Bureau assumed many related oversight responsibilities, but the historical origin of Regulation C lies with the Federal Reserve Board. The other agencies listed did not originate Regulation C (CFPB took over later in the regulatory era, and OCC/HUD have different primary roles).

Regulation C was originally issued and implemented by the Federal Reserve Board. When HMDA became law in 1975, the Federal Reserve Board was responsible for establishing the reporting requirements and collecting mortgage lending data from lenders. Later, the Consumer Financial Protection Bureau assumed many related oversight responsibilities, but the historical origin of Regulation C lies with the Federal Reserve Board. The other agencies listed did not originate Regulation C (CFPB took over later in the regulatory era, and OCC/HUD have different primary roles).

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