Which census data for HMDA reports?

Question: As we prepare our HMDA report for 2001, are we still supposed to be using the 1990 census data? When should we use the information from the 2000 census?

Answer: For reporting your 2001 lending data, which we do in 2002, we do not use 2000 census data. we are still using the 1990 information. It sounds confusing, but the regulations call for consistency. The 2000 census information is not yet fully available across the country. After all, it is a lot of information. Retracting can only be done after the information is compiled and analyzed. For 2001 reporting (and also for 2002) you should still use the 1990 data. In 2003, we will begin using the 2000 census information. See FDIC's FIL-101-2001. It is available on the FDIC's website, www.fdic.gov, and also contains some information on where to call for help.

Copyright © 2002 Compliance Action. Originally appeared in Compliance Action, Vol. 7, No. 2, 3/02