HMDA Reminder – Use the 2020 Census Data Beginning January 1, 2022

In February 2021, the U.S. Census Bureau released the 2020 Census Data tract boundaries. As a reminder, Regulation C, 12 CFR 1003.4(a)(9)(ii)(C) requires financial institutions to provide census tract information for certain properties.

To determine what to report for this data point, a covered financial institution must look to the “most recent decennial census conducted by the U.S. Census Bureau” and “use the boundaries and codes in effect on January 1 of the calendar year covered by the loan/application register that it is reporting.”

As a result, for data collected beginning January 1, 2022, financial institutions should use census tract information provided in the 2020 Census.

Consistent with this approach, the FFIEC’s Geocoder will use census tract information from the 2020 Census beginning January 1, 2022.

If you have any questions about these requirements, please contact hmdahelp@cfpb.gov.

Source: CFPB