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GAO-16-232R 1 (2015-11-16)

handle is hein.gao/gaobadrqc0001 and id is 1 raw text is: G A O U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-327508 November 16, 2015 The Honorable Richard Shelby Chairman The Honorable Sherrod Brown Ranking Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Jeb Hensarling Chairman The Honorable Maxine Waters Ranking Member Committee on Financial Services House of Representatives Subject: Bureau of Consumer Financial Protection: Home Mortgage Disclosure (Regulation C) Pursuant to section 801 (a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Bureau of Consumer Financial Protection (the Bureau) entitled Home Mortgage Disclosure (Regulation C) (RIN: 3170-AA10). We received the rule on November 2, 2015. It was published in the Federal Register as a final rule; official interpretations on October 28, 2015. 80 Fed. Reg. 66,128. The final rule implements amendments to the Home Mortgage Disclosure Act made by section 1094 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The rule adds several new reporting requirements and clarifies several existing requirements. The rule also modifies the institutional and transactional coverage of Regulation C. Additionally, the rule provides guidance regarding compliance with both the existing and new requirements. Enclosed is our assessment of the Bureau's compliance with the procedural steps required by section 801 (a)(1)(B)(i) through (iv) of title 5 with respect to the rule. Our review of the procedural steps taken indicates that the Bureau complied with the applicable requirements. GAO-16-232R

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