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Consumer Financial Protection Bureau (CFPB) Small Credit Institutions

Ballard Spahr LLP

CFPB publishes two resources for small creditors

Ballard Spahr LLP on

The CFPB recently published a fact sheet for small creditors operating in rural or underserved areas. As we have reported, the CFPB issued a final rule, which became effective on January 1, 2016, revising the definitions of...more

BakerHostetler

CFPB Publishes List of Rural Counties and Underserved Areas

BakerHostetler on

We have an update to our September 23 post regarding the CFPB’s expanded definition of “small creditors” and “rural areas” for purposes of meeting the requirements of qualified mortgages. As first reported by Housing Wire,...more

Katten Muchin Rosenman LLP

CFPB Finalizes Rule to Ease Rules for Small Creditors

On September 21, the Consumer Financial Protection Bureau (CFPB) finalized several changes to its mortgage rules to increase the number of financial institutions able to offer certain types of mortgages in rural and...more

Locke Lord LLP

CFPB Final Rule - Amendments Relating to Small Creditors and Rural or Underserved Areas under the Truth in Lending Act

Locke Lord LLP on

On September 21, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule, Amendments Relating to Small Creditors and Rural or Underserved Areas under the Truth in Lending Act (Rule) which goes into effect...more

MoFo Reenforcement

Amendments Relating to Small Creditors and Rural or Underserved Areas Under the Truth in Lending Act (Regulation Z)

MoFo Reenforcement on

The CFPB is amending certain mortgage rules issued by the Bureau in 2013. This final rule revises the Bureau’s regulatory definitions of small creditor, and rural and underserved areas, for purposes of certain special...more

Ballard Spahr LLP

Candid remarks from Director Cordray

Ballard Spahr LLP on

Last week, Director Cordray spoke at a National Credit Union Administration town hall webinar. While his prepared remarks were not particularly revealing, the American Banker reported that Director Cordray was unusually...more

Manatt, Phelps & Phillips, LLP

CFPB Proposes Eased Mortgage Restrictions on Smaller Financial Institutions

Why it matters - Seeking to reassure smaller financial institutions struggling to cope with regulatory changes in the mortgage industry, the Consumer Financial Protection Bureau (CFPB) proposed changes intended to...more

Ballard Spahr LLP

CFPB proposes amendments to “small creditor,” “rural” exemptions

Ballard Spahr LLP on

On January 29, the CFPB proposed amendments to the portions of Regulation Z governing mortgages made by small creditors. In the same notice, the CFPB also proposed amendments to Regulation Z’s definition of the term “rural,”...more

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