Texas Business reports:  The Federal Reserve Board will hold four public hearings this year on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), the Federal Reserve Bank of Dallas announced.

HMDA requires mortgage lenders to provide detailed reports about their mortgage lending activity to regulators and the public.

The Federal Reserve Board has announced the agenda and panelists for the third of four public hearings this year on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The event will be held Thursday, September 16, at the Federal Reserve Bank of Chicago.

Consumers, community and consumer organizations, mortgage lenders, and other interested parties will be invited to participate in the hearings, which will serve three objectives:

to help the Board evaluate whether the 2002 Regulation C revisions that required lenders to report mortgage pricing data provided useful and accurate information about the mortgage market;

to provide information to help the Board assess the need for additional data and other improvements; and

to help identify emerging issues in the mortgage market that may warrant additional research.

All hearings will include panel discussions by invited speakers. Other interested parties may deliver oral statements of up to five minutes during an "open-mike" period. Sign-up for the open-mike session will be available on a first-come, first-served basis starting at 8:00 a.m. the day of each hearing. Those wishing to speak must sign up in person. Written statements of any length may be submitted for the record.