WASHINGTON Banks can expect changes to federal reporting requirements for mortgage data, according to the head of the Consumer Financial Protection Bureau.

CFPB Director Richard Cordray offered little detail on how institutions will report Home Mortgage Disclosure Act data differently than they do now, but he said one of the motivations for the changes will be to simplify the process for banks. Policymakers use the annual HMDA data to assess how well banks serve their communities' housing needs and to identify possible patterns of discrimination.

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