News & Updates


CFPB Finalizes Amendments to Ability-to-Repay Rule

29 May 2013 6:24 PM | Edith Tella (Administrator)

Press Release issued by CFPB

 

WASHINGTON, D.C. undefined Today the Consumer Financial Protection Bureau (CFPB) finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB’s Ability-to-Repay rule for small creditors, community development lenders, and housing stabilization programs. The amendments also revised rules on how to calculate loan origination compensation for certain purposes. Today’s final rule amends the CFPB’s Ability-to-Repay rule, which was finalized in January of this year.

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