| As CFPB Home Page Goes 404
HMDA Petition to Federal Reserve
by Fair Finance Watch
by
Matthew Russell Lee, Patreon Book
Substack
Bronx /
Federal Court, Feb 11
– When a "404: Page Not Found"
message began on the homepage
of the U.S. Consumer Financial
Protection Bureau, a call went
out among consumer advocates
to dig deeper in the site and
begin downloading data before
it is deleted. Fine.
But the
CFPB has become the platform
on which new data under the
Home Mortgage Disclosure Act
is released. Simply
downloading past years' data
is not enough. Where will the
2024 data go, and be available
to the
public? Fair
Finance Watch, with Inner City
Press on the FOIA, filed a
petition for rulemaking and
emergency mitigation with the
Federal Reserve Board:
Governor Powell,
Ladies and
Gentlemen:
Fair
Finance Watch and Inner City
Press are writing to petition
the Board of Governors of the
Federal Reserve System under
section 553(e) of the
Administrative Procedure Act
to engage in rulemaking and,
most immediately, to take
emergency measures to ensure
public access to data under
the Home Mortgage Disclosure
Act (HMDA), including the 2024
data.
When the Consumer Financial
Protection Bureau was created,
the hosting of HMDA data
shifted from the FFIEC to CFPB
website.
Today February 10, 2025 the
CFPB.gov website went dark.
While portions of the site are
as of this writing still
available, it is foreseeable
that the HMDA data site may be
taken
down.
The Community Reinvestment
Act, among other banking laws,
is largely enforced by use and
analysis of HMDA data. It is
imperative that public access
to HMDA data
remain.
The FRB
should begin a process to
ensure access to HMDA data, on
FFIEC or the FRB's own website
- by rulemaking, if necessary
long term, but immediate on an
interim basis, if necessary
mirroring the CFPB cite as
long as it remains under
threat.
This petition concerning the
continued public access to
HMDA data is also made with
reference to Section 553(e) of
the APA, and we respectfully
request a
response.
Watch this
site. Others like NCRC are
advocating. We aim to have
more from DC
***
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