HMDA: Action Taken Date

One of the data fields you are required to report on the HMDA-LAR is the “Action Taken Date.” In other words, the date you made the loan, the date the application was denied, etc. This oftentimes is pretty straightforward, but there are some instances where the regulation allows a little flexibility, and it can cause confusion.

David explains more in the video.


HMDA Resources!

Video Highlights:

  • You must report the date action was taken; however, there is some flexibility.
  • David provides some tips to save time and appease your examiners.
  • If the action taken date crosses over into a new calendar year, there are some special rules.

Published
2023/04/27

 

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.

Recent Posts

Top Violations: Application Date

Marketing & UDAAP

Join the AML/CFT Membership Group!