CFPB Issues Proposal To Facilitate Access To Credit In Rural And Underserved Areas

On January 29, the Consumer Financial Protection Bureau (CFPB) proposed several changes to its mortgage rules to facilitate lending in rural and underserved areas.  The proposed rule would increase the number of financial institutions able to offer certain types of mortgages in rural and underserved areas. The proposed rule will be open for public comment until March 30, 2015ReleaseProposed Rule.