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CFPB Director Richard Cordray will speak to credit unions in a free town hall webinar hosted today by NCUA Board Chairman Debbie Matz set for 3 p.m. Eastern.

NAFCU is monitoring today's webinar, which will address the CFPB's ability-to-repay rule and proposed rule on mortgages. The final rule, which takes effect next Jan. 10, includes two definitions of a "qualified mortgage," one of which provides the lender a safe harbor in the event of civil action. The proposed rule offers a proposed exemption for credit unions with $2 billion or less in assets that originate 500 or fewer mortgages a year.

Participants can type in questions during the webinar, or submit them in advance to WebinarQuestions@ncua.gov. The subject line of the email should read, "NCUA-CFPB Town Hall."

The webinar is free, but registration is required.