Page 13 - Compliance Monthly 10-7-2019

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Compliance News

FFIEC Announces Availability of 2018 Data of Mortgage Lending

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,683
U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit
unions, and mortgage companies. Released today are loan-level HMDA data covering 2018 lending activity that were submitted on or before
August 7, 2019. The HMDA loan-level data available to the public will be updated, on an ongoing basis, to reflect late submissions and
resubmissions. Accordingly, loan-level data downloaded from https://ffiec.cfpb.gov/ at a later date will include any such updated data. An August
7, 2019 static dataset used to develop the observations in this statement about the 2018 HMDA data is available here https://ffiec.cfpb.gov/data-
publication/. In addition, beginning in late March 2019, Loan/Application Registers (LARs) for each HMDA filer of 2018 data, modified to protect
borrower privacy, became available at https://ffiec.cfpb.gov/data-publication/.

Source: FFIEC; Publication Date August 30, 2019 https://www.ffiec.gov/press/pr083019.htm

Google and YouTube Cited for Violation of COPPA

Google LLC and its subsidiary YouTube, LLC will pay a record $170 million to settle allegations by the Federal Trade Commission and the New York
Attorney General that the YouTube video sharing service illegally collected personal information from children without their parents’ consent. he
COPPA Rule requires that child-directed websites and online services provide notice of their information practices and obtain parental consent
prior to collecting personal information from children under 13, including the use of persistent identifiers to track a user’s Internet browsing
habits for targeted advertising. In addition, third parties, such as advertising networks, are also subject to COPPA where they have actual
knowledge they are collecting personal information directly from users of child-directed websites and online services.

Source: FTC; Publication Date September 4, 2019 https://www.ftc.gov/news-events/press-releases/2019/09/google-youtube-will-pay-record-
170-million-alleged-violations

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