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CFPB RIN: 3170-AA34 Publication ID: Spring 2013 
Title: ●Ability to Repay Standards Under the Truth in Lending Act (Regulation Z)  
Abstract: The Board of Governors of the Federal Reserve System (Board) published for public comment on May 11, 2011, a proposed rule amending Regulation Z to implement the ability-to-repay and qualified mortgage provisions added to the Truth in Lending Act (TILA) made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Pursuant to the Dodd-Frank Act, the rulemaking authority for the TILA generally transferred from the Board to the CFPB on July 21, 2011. On January 10, 2013, the CFPB issued a final rule (published in the Federal Register on January 30, 2013) implementing amendments to Regulation Z, including the ability-to-repay requirements and "qualified mortgage" provisions. On January 10, 2013, the CFPB also issued a concurrent proposal to seek public comment on certain revisions to the final rule, including certain exemptions from the ability-to-repay requirements and a definition of "qualified mortgage" for certain small creditor portfolio loans (published in the Federal Register on January 30, 2013). The CFPB issued a final rule on May 29, 2013. 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1026   
Legal Authority: 12 USC 2601    12 USC 2603 to 2605    12 USC 2607    12 USC 2609    12 USC 2617    12 USC 5511    12 USC 5512    12 USC 5532    12 USC 5581    12 USC 1601 et seq   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  02/25/2013  78 FR 6622   
NPRM Comment Period End  02/25/2013 
Final Rule  06/12/2013  78 FR 35429   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 3170-AA17, Related to 7100-AD75 
Agency Contact:
Stephen Shin
Office of Regulations
Consumer Financial Protection Bureau
Phone:202 435-7700