Removing Barriers Blog

CFPB to Provide Briefing for Credit Unions on FAST/HELP Act Implementation (Reg Z)
Posted May 24, 2016 by CUNA Advocacy

Tomorrow from 3:30-4:00 PM EDT, the CFPB will host a Conference Call Briefing regarding changes to Regulation Z,  implementing the Helping Expand Lending Practices in Rural Communities Act (HELP Rural Communities Act) contained in the Fixing America’s Surface Transportation Act (Public Law 114-94). CFPB staff responsible for drafting the rule will provide an overview and answer questions concerning the new rule.

The recent Interim Final Rule amends certain provisions of Regulation Z that affects the eligibility of certain small creditors that operate in rural or underserved areas to originate balloon-payment qualified mortgages and provides for an exemption from the requirement to establish an escrow account for higher-priced mortgage loans.

Presenters will include the following:

Terry Randall, Counsel, Office of Regulations, CFPB

Nicholas Hluchyj, Sr. Counsel, Office of Regulations, CFPB

Date:                           May 25, 2016

Time:                           3:30 – 4:00 EST

Dial-in-Number:         1-800-591-2259

Passcode:                    987051