Operations in Rural Areas under the Truth in Lending Act (Regulation Z); Interim Final Rule

1 organizations filed 1 public comment on Operations in Rural Areas under the Truth in Lending Act (Regulation Z); Interim Final Rule, at the Consumer Financial Protection Bureau. The comment window closed 3746d ago.

Abstract

This interim final rule amends certain provisions of Regulation Z in light of title LXXXIX of the Fixing America’s Surface Transportation Act, entitled the Helping Expand Lending Practices in Rural Communities Act, Public Law 114-94. The amendments to Regulation Z concern two matters: (1) the eligibility of certain small creditors that operate in rural or underserved areas for special provisions that permit the origination of balloon-payment qualified mortgages and balloon-payment high cost mortgages and for an exemption from the requirement to establish an escrow account for higher-priced mortgage loans and (2) the determination of whether an area is rural for the purposes of Regulation Z.

Commenters (1)

• American Bankers Associationtrade assoc.

  1 filing · confidence 97%