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Title 12, Banks and BankingRelease 119-110

§2808 Effective Date

Title 12 › CHAPTER 29 — HOME MORTGAGE DISCLOSURE › § 2808

Last updated Sep 23, 2026|Official source

Summary

The chapter starts on the 180th day after December 31, 1975. Any institution listed in section 2802(2)(A) that had total assets of $10,000,000 or less in its last full fiscal year is not covered by the chapter. The Bureau, working with the Secretary, can also exempt institutions listed in section 2802(2)(B) if they are similar to those small institutions, and that similarity is judged without using the inflation change explained below. After December 31, 1996, the $10,000,000 cutoff is increased each year by the yearly percent change in the Consumer Price Index for Urban Wage Earners and Clerical Workers from the Bureau of Labor Statistics. The first increase after September 30, 1996 is the percent difference between the CPI for 1996 and the CPI for 1975. Each year’s dollar cutoff is rounded to the nearest $1,000,000.

Full Legal Text

Title 12, §2808

Banks and Banking, Source: USLM XML via OLRC

(a)In general
This chapter shall take effect on the one hundred and eightieth day beginning after December 31, 1975. Any institution specified in section 2802(2)(A) of this title which has total assets as of its last full fiscal year of $10,000,000 or less is exempt from the provisions of this chapter. The Bureau, in consultation with the Secretary, may exempt institutions described in section 2802(2)(B) of this title that are comparable within their respective industries to institutions that are exempt under the preceding sentence (as determined without regard to the adjustment made by subsection (b)).
(b)CPI adjustments
(1)In general
Subject to paragraph (2), the dollar amount applicable with respect to institutions described in section 2802(2)(A) 1 of this title under the 2d sentence of subsection (a) shall be adjusted annually after December 31, 1996, by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers published by the Bureau of Labor Statistics.
(2)1-time adjustment for prior inflation
The first adjustment made under paragraph (1) after September 30, 1996, shall be the percentage by which—
(A)the Consumer Price Index described in such paragraph for the calendar year 1996, exceeds
(B)such Consumer Price Index for the calendar year 1975.
(3)Rounding
The dollar amount applicable under paragraph (1) for any calendar year shall be the amount determined in accordance with subparagraphs (A) and (B) of paragraph (2) and rounded to the nearest multiple of $1,000,000.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 2802(2) of this title, referred to in subsecs. (a) and (b)(1), was redesignated section 2802(3) of this title by Pub. L. 111–203, title X, § 1094(2)(A), July 21, 2010, 124 Stat. 2097.

Amendments

2010—Subsec. (a). Pub. L. 111–203 substituted “Bureau” for “Board”. 1996—Pub. L. 104–208 designated existing provisions as subsec. (a), inserted heading, inserted “(as determined without regard to the adjustment made by subsection (b))” before period at end, and added subsec. (b). 1992—Pub. L. 102–550, § 1604(a)(15), amended directory language of Pub. L. 102–242, § 224(a). See 1991 Amendment note below. 1991—Pub. L. 102–242, § 224(a), as amended by Pub. L. 102–550, § 1604(a)(15), struck out “depository” before “institution”, inserted “specified in section 2802(2)(A) of this title” after “institution”, and inserted at end: “The Board, in consultation with the Secretary, may exempt institutions described in section 2802(2)(B) of this title that are comparable within their respective industries to institutions that are exempt under the preceding sentence.”

Statutory Notes and Related Subsidiaries

Effective Date

of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Effective Date

of 1992 AmendmentAmendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title.

Effective Date

of 1991 Amendment Pub. L. 102–242, title II, § 224(b), Dec. 19, 1991, 105 Stat. 2307, provided that: “This section [amending this section] shall become effective on January 1, 1992.”

Reference

Citations & Metadata

Citation

12 U.S.C. § 2808

Title 12, Banks and Banking

Last Updated

Sep 23, 2026

Release point: 119-110