FinCEN Acting Director’s Statement Regarding U.S., U.K. Collaboration on Prize Challenges to Accelerate Development and Adoption of Privacy-Enhancing Technologies
June 14, 2022 / Source: FinCEN
The Office of Servicemember Affairs’ annual report on the top financial concerns facing servicemembers, veter
Data available through the Home Mortgage Disclosure Act (HMDA) provides the most comprehensive source of publicly available information on the U.S. mortgage market. Under HMDA, financial institutions maintain, report, and publicly disclose loan-level information about mortgage applications and loans. HMDA data can help show whether lenders are serving the housing needs of their communities, give diverse stakeholders information that helps to guide policy, and shed light on lending patterns that could potentially be discriminatory, including through redlining or unjustified disparities in lending outcomes that can drive racial and economic inequality.
For more than four decades, public release of HMDA data has made the mortgage market more transparent, competitive, and fair. HMDA data are collected, processed, and published by the CFPB on behalf of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Department of Housing and Urban Development. The agencies made the data available to the public in a wide variety of data products, including via an online HMDA Data Browser and a new HMDA Maps tool.
Today, we’ve published the Beginner’s Guide to Accessing and Using Home Mortgage Disclosure Act Data , a resource to support a range of stakeholders in accessing and using this information. The Beginner’s Guide is designed to support users by providing:
- An explanation of what the data are and which institutions report them
- Data products available to the public and how to access and use them
- Step-by-step instructions on how to create useful data summaries for specific geographies.
ans, and military families, based on the complaints they submitted to the CFPB. Servicemembers told the CFPB about billing inaccuracies and that debt collectors used aggressive tactics to recover allegedly unpaid medical bills. Servicemembers also reported failures by credit reporting companies in helping to resolve inaccuracies and other credit reporting issues.
June 13, 2022
Today, the U.S. and U.K. governments announced the development of prize challenges focused on advancing the maturity of privacy-enhancing technologies (PETs) to combat financial crime.
“FinCEN is pleased to support this important initiative to advance the development of a building block for protecting the U.S. financial system from illicit finance,” said Himamauli Das, Acting Director of the Financial Crimes Enforcement Network (FinCEN).
More information is available here.