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NAFCU Director of Regulatory Compliance Brandy Bruyere announced a new collection of resources for credit unions on the Home Mortgage Disclosure Act.

Mortgage lending data reporting rules under the law were revised in October. Bruyere said the collection includes several resources that outline the changes and how they affect credit unions.

"While most of the final rule won't become effective until Jan. 1, 2018, implementing these changes will be time-consuming, requiring significant changes to a credit union's systems and procedures," Bruyere noted. "Covered credit unions will also need to use the new web-based submission tool starting in 2019. These resources will help credit unions begin to tackle the regulatory burden created by the expansion of HMDA."

The resources include a Final Rule report, a webcast, blog posts and other articles. The collection also highlights NAFCU's upcoming Regulatory Compliance Seminar in New Orleans, set for Oct. 25-28.

NAFCU has urged CFPB to mitigate HMDA's regulatory burden revising the rule's resubmission guidelines.