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Effective Date Set for CFPB Exemption from Requirements on Escrow Accounts for Higher-Priced Mortgage Loans

A CFPB final rule to provide certain insured depository institutions and credit unions with an exemption from establishing escrow accounts for higher-priced mortgage loans was published in the Federal Register. The final rule will go into effect on February 17, 2021. See previous coverage on the adoption of the amendments to the Truth in Lending Act (Regulation Z).

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TILA
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Community Banks, Credit Unions
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