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CFPB RIN: 3170-AA16 Publication ID: Spring 2013 
Title: Escrow Requirements Under the Truth in Lending Act (Regulation Z)  
Abstract: The Board of Governors of the Federal Reserve System (Board) published in the Federal Register on March 2, 2011, a proposed rule to implement certain amendments to the Truth in Lending Act (TILA) made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) that lengthen the time for which a mandatory escrow account established for a higher-priced mortgage loan must be maintained. In addition, the Board's proposal included provisions to implement the Dodd-Frank Act's disclosure requirements regarding escrow accounts. The Board's proposal also included provisions to exempt certain loans from the statute's escrow requirement, pursuant to authority in the Dodd-Frank Act. The primary exemption in the proposal applied to mortgage loans extended by creditors that operate predominantly in rural or underserved areas and meet certain other prerequisites. Pursuant to the Dodd-Frank Act, the rulemaking authority for the TlLA generally transferred from the Board to the CFPB on July 21, 2011. The CFPB issued a final rule on January 10, 2013, which was published in the Federal Register on January 22, 2010. The CFPB, in a separate rulemaking (see RIN 3170-AA32), issued a final rule postponing the implementation of the Dodd-Frank Act disclosure requirements regarding escrow accounts. 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 12 CFR 1026.35   
Legal Authority: 12 USC 5512    12 USC 5581    15 USC 1601    15 USC 1604    15 USC 1639   
Legal Deadline:  None
Action Date FR Cite
NPRM  03/02/2011  76 FR 11598   
NPRM Comment Period End  05/02/2011    
Final Rule  01/22/2013  78 FR 4726   
Regulatory Flexibility Analysis Required: Yes  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Related RINs: Related to 7100-AD65 
Agency Contact:
Paul Mondor
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700