March 13, 2023

CFPB seeking comments on Reg Z’s mortgage loan originator rule

CFPBAs part of the CFPB’s required review of the mortgage loan originator rule under Regulation Z, the bureau is seeking public feedback on the rule’s impact on small entities.

The request for comment (RFC) seeks information that may assist the CFPB in determining whether the rule should be continued without change, amended, or rescinded to minimize any significant economic impact of the rule on a large number of small entities. The bureau is required to review the rule under section 610 of the Regulatory Flexibility Act.     

NAFCU will send members a Regulatory Alert to break down the RFC and plans to submit comments comprised of member credit union feedback. Stay tuned to NAFCU Today for more on the latest from the CFPB.