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1.2.11a Helping Expand Lending Practices in Rural Communities Title of the Fixing America’s Surface Transportation Act of 2015

Title LXXXIX of the Fixing America’s Surface Transportation Act of 2015 amended TILA to broaden the class of creditors that may be eligible for provisions that relieve burdens for small, rural mortgage creditors. It also requires the CFPB to establish a process under which a person may apply to have an area designated as a rural area for purposes of a federal consumer financial law.126 The broadening of the definition of a small, rural lender is discussed in §§ 9.3.3.4.1.4, 9.5.4.5.2, and 9.6.10.4.3, infra.

Footnotes

  • 126 Pub. L. No. 11-94, 129 Stat 1312, 1799–1801 (2015).