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Final Rule: Operations in Rural Areas under the Truth in Lending Act

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. Read more here. 

  • March 31, 2016
  • Time: All Day
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