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Ability To Repay – Rural Areas?

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  • #2633
    dmurray
    Participant

    There’s a statement in the 804 page Ability to Repay rule that was just published (and please forgive me as I haven’t read this entirely yet) that talks about banks in rural/underserved areas and lending in those areas. In which, they say that “The Bureau” will publish a list of these rural/underserved areas annually.

    Has that list come out yet? I think this is really going to be a game changer for our bank.

    #3055
    JGo9
    Participant

    To date, I don’t think the list has been published.

    #3033
    TheBank
    Participant

    I believe there is a preliminary list now.

    https://www.consumerfinance.gov/blog/

    #3035
    JGo9
    Participant

    Thanks for the heads up and here is a direct link to the PDF version of the list: https://files.consumerfinance.gov/f/201303_cfpb_preliminary-list_rural-or-underserved-counties.pdf

    #3036
    dmurray
    Participant

    Dang… none of our counties are on the list. Ho hum… off to work we go.

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