A proposed rule announces and explains the Bureau’s proposal to address an issue and invites the public to comment. The proposed rule and the public comments received on it form the basis of the final rule.
Advanced Notice of Proposed Rulemaking
An optional early step in CFPB rulemaking. Used to get initial public input on certain key aspects of potential rulemakings.
The Consumer Financial Protection Bureau (CFPB) is proposing this interpretive rule to help participants in the market for paycheck advance products determine when certain existing requirements under Federal law are triggered. The proposed interpretive rule also addresses certain costs that are in substantial connection with extensions of such credit, such as expedited delivery fees and costs marketed as “tips.”
The Bureau proposes to address how the Truth in Lending Act applies to Property Assessed Clean Energy (PACE) financing transactions to account for the unique nature of PACE.
The Bureau proposes to amend Regulation Z to replace the Temporary GSE QM loan definition’s sunset date with a provision that extends the definition to expire upon the effective date of final amendments to the General QM loan definition.
The Bureau of Consumer Financial Protection is proposing to create a new category of QMs (Seasoned QMs) for first-lien, fixed-rate covered transactions that have met certain performance requirements over a 36-month seasoning period, are held in portfolio until the end of the seasoning period, comply with general restrictions on product features and points and fees, and meet certain underwriting requirements.
The Bureau is proposing to exempt certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.
The Bureau proposes to amend Regulation Z to replace the Temporary GSE QM loan definition’s sunset date with a provision that extends the definition to expire upon the effective date of final amendments to the General QM loan definition.
The Bureau is proposing to amend Regulation Z, which implements the Truth in Lending Act, generally to address the sunset of LIBOR, expected to be discontinued after 2021.
The Bureau is issuing this advance notice of proposed rulemaking relating to residential Property Assessed Clean Energy (PACE) financing to aid implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act section 307.
