Final rules

The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to create a new category of QM loans (Seasoned QM loans) for first-lien, fixed-rate covered transactions that have met certain performance requirements, are held in portfolio by the originating creditor or first purchaser for a 36-month period, comply with general restrictions on product features and points and fees, and meet certain underwriting requirements.

This final rule amends the General QM loan definition in Regulation Z. Among other things, the final rule removes the General QM loan definition’s 43 percent DTI limit and replaces it with price-based thresholds.

Based on the annual percentage increase in the CPI-W as of June 1, 2020, the exemption threshold will remain at $58,300 effective Jan. 1, 2021.

Based on the CPI-W in effect as of June 1, 2020, the exemption threshold will remain at $27,200, effective Jan. 1, 2021.

Based on the annual percentage increase in the CPI-W as of June 1, 2020, the exemption threshold will remain at $58,300 effective January 1, 2021.

This rule amends Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA), to prescribe Federal rules governing the activities of debt collectors, as that term is defined in the FDCPA.

This final rule amends the Bureau’s regulation related to the confidential treatment of information that the Bureau obtains from persons in connection with the exercise of its authorities under Federal consumer financial laws.

The Bureau amends Regulation Z to replace the January 10, 2021 sunset date of the Temporary GSE QM loan definition with a provision stating that the Temporary GSE QM loan definition will be available only for covered transactions for which the creditor receives the consumer’s application before the mandatory compliance date of final amendments to the General QM loan definition in Regulation Z.

CFPB revoked regulations providing it is an unfair and abusive practice to make certain payday and vehicle title loans without reasonably determining ability to repay.

This rule amends Regulation Z (Truth in Lending) to implement certain amendments to the Truth in Lending Act made by the Dodd-Frank Act.

This rule requires a creditor to make a reasonable, good faith determination of a consumer’s ability to repay a residential mortgage loan according to its terms.

The Bureau is issuing this interpretive rule to provide guidance about the way in which it determines which counties qualify as underserved for a given calendar year.

This interim final rule provides a regulatory exception for certain programs that allow borrowers to defer repayment of forborne or delinquent amounts that accrued due to the COVID-19 emergency.

Regulation E implements the Electronic Fund Transfer Act. It regulates electronic fund transfers, prepaid accounts, remittance transfers, gift cards and gift certificates.

Amendments are adopted that will allow insured institutions to estimate certain costs associated with sending a remittance transfer under certain conditions and raise the normal course of business safe harbor.

The Bureau of Consumer Financial Protection (Bureau) is issuing this interpretive rule to provide guidance to creditors and other covered persons involved in the mortgage origination process in light of the COVID-19 pandemic.

The final rule adjusts Regulation C’s institutional and transactional coverage thresholds for closed-end mortgage loans and open-end lines of credit.

The Bureau is issuing this interpretive rule to provide guidance to government agencies distributing aid to consumers in response to the COVID-19 pandemic.

Policy statement to announce a new Bureau guidance designation, known as “Compliance Aids,” and to explain the legal status of that guidance designation.

The Bureau is adjusting for inflation the maximum amount of each civil penalty within the Bureau’s jurisdiction.

The Bureau is amending the official commentary that interprets the requirements of the Bureau’s Regulation Z (Truth in Lending) to reflect a change in the asset-size threshold for certain creditors to qualify for an exemption to the requirement to establish an escrow account for a higher-priced mortgage loan based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the 12-month period ending in November.

The CFPB is issuing a final rule amending the official commentary that interprets the requirements of the Bureau's Regulation C (Home Mortgage Disclosure) to reflect the asset-size exemption threshold for banks, savings associations, and credit unions based on the annual percentage change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). 

The Bureau of Consumer Financial Protection (Bureau) announces that the ceiling on allowable charges under section 612(f) of the Fair Credit Reporting Act (FCRA) will remain unchanged at $12.50, effective for 2020.

This interpretive rule construes Regulation Z, which implements the Truth in Lending Act (TILA).  

The Bureau is amending Regulation C to extend to January 1, 2022 the threshold of 500 open-end lines of credit for reporting data about open-end lines of credit and to incorporate into Regulation C the partial exemptions created by the Economic Growth, Regulatory Relief, and Consumer Protection Act.