CFPB's HMDA regulation's vast expansion of data collection and publication opens the door to many issues surrounding consumer privacy, data security, and re-identification risk. 

Overview: The Home Mortgage Disclosure Act (HMDA) requires mortgage lenders to collect and report information on specific data points pertaining to their lending practices. The Dodd-Frank Act authorized the collection of additional mortgage lending information. Data collection and reporting under the 2015 HMDA Final Rule has already begun and the CFPB recently finalized its policy on publication of 2018 data. MBA has argued that the Dodd-Frank statute requires that this privacy policy be the product of a notice-and-comment rulemaking rather than guidance. Such a process would best ensure the robust consideration of multiple viewpoints around the serious consumer privacy issues raised by the disclosure of so much new information. In response to these concerns the Bureau has indicated that they will initiate a notice-and-comment rulemaking in 2019 to consider the appropriate publication policy in future years.  

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