§__.42 CRA Data Collection for Line of Credit Renewals

§__.42 – 4

Q: Should renewals of lines of credit be collected and/or reported?

A4. Renewals of lines of credit for small business, small farm, consumer, or community development purposes should be collected and reported, if applicable, in the same manner as renewals of small business or small farm loans. See Q&A §__.42(a) – 5 Institutions that are HMDA reporters continue to collect and report home equity lines of credit at their option in accordance with the requirements of 12 CFR part 1003.

 

Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016

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