CFPB Updates Compliance Guides to Reflect Rural/Underserved Rule

The Consumer Financial Protection Bureau has updated certain compliance guides related to Regulation Z to reflect last week’s rule broadening the availability of certain special provisions for small creditors operating in rural or underserved areas. The bureau made updates to the compliance guides for the Ability to Repay/Qualified Mortgage, Home Ownership and Equity Protection Act and the TILA Higher-Priced Mortgage Loans Escrow rules, as well as the transaction coverage and exemption chart, the small creditor QM flowchart and the ATR/QM comparison chart.


About Author

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.