it's not all hmda we're trying to change, we're trying to change the hmda data for institutions of a smaller size, and it's only certain data. they'll minimize the

, hmda is not repealed. even the new cfpb regulations that double the data of hmda is not repealed. i urge the gentleman from minnesota to actually read the bill which happens to be four pages long and he would find out that a current, a current exemption that exists under current law for the smallest financial institutions that are trying to make loans to the very people he claim he is wants to protect, that is slightly enlarged. now, mr. speaker, very happy to yield three to yield three minutes to the gentleman from arkansas, the majority whip of the financial services committee, mr. hill. mr. hill: thank you, mr. speaker. i thank our distinguished chairman, i appreciate my friend, mr. emmer, for introducing this bill. to make this very modest change which does help community banks allocate cape capital, make more mortgage loans out there in our country. i would say to my friend from minnesota who knows i have great respect for him and his eloquence that no one on this side of the aisle is any less interes

consumer financial protection bureau was charged with updating how lenders report hmda. the bureau adopted a new standard for reporting requirements that took into account the burdens imposed on banks by new standards that ensure that the data is being reported to monitor fair lending practices to prevents another systemic meltdown like we had in 2008 and 2009. the consumer financial protect bureau temporarily raised the reporting threshold, eliminating the need for low volume banks to report throw 2019 to conduct research to determine the right way to document open-ended lobes. we -- loans. we should not codify this threshold, removing the flexibility the agency we in congress set up to prevent another financial meltdown. it would tie their hands and prevent them from acting even if there was a need to to prevent the financial meltdown. i strongly support regulatory relief for community banks and small financial institutions. his bill would actually exempt 85% of the depository financial institutions and 48% of nondepository lenders. congress should want to encourage in