The Consumer Financial Protection Bureau (CFPB) has issued a notice of proposed rulemaking (NPRM) that would amend Regulation Z to exempt certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs).
The NPRM action is the last mandatory rulemaking to implement the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).
Read on for more details from the CPPB’s rulemaking activity.
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