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CFPB | RIN: 3170-AA59 | Publication ID: Spring 2016 |
Title: ●Operations in Rural Areas Under the Truth in Lending Act (Regulation Z); Interim Final Rule | |
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. |
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Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Completed Actions |
Major: Yes | Unfunded Mandates: No |
CFR Citation: 12 CFR 1026.35 12 CFR 1026.43 | |
Legal Authority: 15 U.S.C. 1639d(c) 15 U.S.C. 1639c(b)(2)(E) 15 U.S.C. 1639(p) 15 U.S.C. 1604(a) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Related RINs: Related to 3170-AA58 | |
Agency Contact: Terry J. Randall Office of Regulations Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7700 |