ABA has issued a members-only staff analysis covering the CFPB’s recent changes to the small creditor and rural or underserved area exemptions under their mortgage rules.
The analysis explains the revised transaction quantity and asset size tests for small credit status, the expanded methods for determining if a creditor operates predominantly in a rural or underserved area. The analysis also reviews revised grace periods for determining eligibility for the expanded relief.
View the staff analysis.
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