MCUL Comments on CFPBs Amendments to the 2013 Escrow Final Rules 

On May 3, MCUL responded to the CFPB’s request for comment regarding the amendments to the 2013 Escrow Final Rules. MCUL commended the CFPB on its efforts, however, pointed out the need to expand its exemption criteria for small creditors under the final rules to include more financial institutions that would benefit from such regulatory relief and also noted the clarifications on the determination of rural or underserved does not adequately address or provide a conclusive determination for an exemption as the CFPB intended.
The CFPB’s request for comment can be found here.


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