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Ability to Repay Rule

MCUA Comments on CFPB Proposal on Ability to Repay

Feb
25
MCUA Comments on CFPB Proposal on Ability to Repay

The Consumer Financial Protection Bureau (CFPB) has already adopted a final rule to implement the ability to repay provisions regarding closed-end mortgage loans under the Dodd-Frank Act. The rule takes effect January 10, 2014. However, the agency is also seeking comments, through today, February 25, on a proposal that would allow some creditors to have more flexibility in complying with the rule.

Posted By Sharon Bahr read more
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