CFPB Goes TILA Final on Rural and Small Creditors
The CFPB posted in the Federal Register its final rule that revises the Bureau's regulatory definitions of small creditor, and rural and underserved areas, for purposes of certain special provisions and exemptions from various requirements provided to certain small creditors under the Bureau's mortgage rules. These include raising the loan origination limit for determining eligibility from 500 origination to 2,000, a grace period for those that exceed numbers, revising the definition of rural and underserved and safe harbor provisions. [10/2/15]
