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Rules and Regulations
Federal Register Vol. 86, No. 23
Friday, February 5, 2021

This section of the FEDERAL REGISTER
contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510.

Dated: January 15, 2021.
Grace Feola, Federal Register Liaison, Bureau of Consumer Financial Protection.
FR Doc. 202101387 Filed 2421; 8:45 am BILLING CODE 4810AMP

The Code of Federal Regulations is sold by the Superintendent of Documents.

SMALL BUSINESS ADMINISTRATION
BUREAU OF CONSUMER FINANCIAL
PROTECTION

13 CFR Part 120
Docket Number SBA20210006

12 CFR Part 1026

RIN 3245AH65

Docket No. CFPB20200028

DEPARTMENT OF THE TREASURY

RIN 3170AA98

RIN 1505AC75

Qualified Mortgage Definition Under the Truth in Lending Act Regulation Z: Seasoned QM Loan Definition;
Correction
Business Loan Program Temporary Changes; Paycheck Protection ProgramLoan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act
Bureau of Consumer Financial Protection.
ACTION: Final rule; correction.
AGENCY:

The Bureau of Consumer Financial Protection Bureau recently published Qualified Mortgage Definition Under the Truth in Lending Act Regulation Z: Seasoned QM Loan Definition, which appeared in the Federal Register on December 29, 2020.
This document corrects a scriveners error in an amendatory instruction in that document.
DATES: Effective March 1, 2021.
FOR FURTHER INFORMATION CONTACT:
Amanda Quester, Senior Counsel, Office of Regulations, at 202 4357700. If you require this document in an alternative electronic format, please contact CFPB_
Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION: In FR Doc.
202027571 appearing on page 86402 in the Federal Register of Tuesday, December 29, 2020, the following correction is made:
SUMMARY:

1026.43

Corrected
On page 86452, in the second column, in amendment 2, the instruction Amend 1026.43 by revising paragraphs e1 and e2 introductory text and adding paragraph e7 to read as follows: is corrected to read:
Amend 1026.43 by revising the headings for paragraphs e and e1
and paragraphs e1i and e2
introductory text and adding paragraph e7 to read as follows:.

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U.S. Small Business Administration; Department of the Treasury.
ACTION: Interim final rule.
AGENCY:

This interim final rule implements changes related to the forgiveness and review of loans made under the Paycheck Protection Program PPP, which was originally established under the Coronavirus Aid, Relief, and Economic Security Act CARES Act to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 COVID19. On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act Economic Aid Act was enacted, extending the authority to make PPP loans through March 31, 2021, revising certain PPP requirements, and permitting second draw PPP loans.
This interim final rule consolidates prior rules related to forgiveness and reviews of PPP loans and incorporates changes made by the Economic Aid Act, including with respect to forgiveness of second draw PPP loans.
DATES:
Effective date: Unless otherwise specified in the Economic Aid Act, the provisions of this interim final rule are effective February 3, 2021.
Applicability date: This interim final rule applies to Paycheck Protection Programs loans for which a loan SUMMARY:

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forgiveness payment had not been remitted by SBA as of December 27, 2020. Parts IV.6.c., IV.7 and V of this interim final rule, Paycheck Protection Program SBA Loan Review Procedures and Related Borrower and Lender Responsibilities, apply to all Paycheck Protection Program loans.
Comment date: Comments must be received on or before March 8, 2021.
ADDRESSES: You may submit comments, identified by number SBA20210006
through the Federal eRulemaking Portal:
http www.regulations.gov. Follow the instructions for submitting comments.
SBA will post all comments on www.regulations.gov. If you wish to submit confidential business information CBI as defined in the User Notice at www.regulations.gov, please send an email to ppp-ifr@sba.gov. All other comments must be submitted through the Federal eRulemaking Portal described above. Highlight the information that you consider to be CBI
and explain why you believe SBA
should hold this information as confidential. SBA will review the information and make the final determination whether it will publish the information.
FOR FURTHER INFORMATION CONTACT: A
Call Center Representative at 833572
0502, or the local SBA Field Office; the list of offices can be found at https
www.sba.gov/tools/local-assistance/
districtoffices.
SUPPLEMENTARY INFORMATION:
I. Background Information On March 13, 2020, President Trump declared the ongoing Coronavirus Disease 2019 COVID19 pandemic of sufficient severity and magnitude to warrant an emergency declaration for all States, territories, and the District of Columbia. With the COVID19
emergency, many small businesses nationwide continue to experience economic hardship as a direct result of the Federal, State, and local public health measures that continue to be taken to minimize the publics exposure to the virus. In addition, based on the advice of public health officials, other voluntary measures continue to be observed, resulting in a decrease in economic activity as the public avoids malls, retail stores, and other businesses.
On March 27, 2020, the President signed the Coronavirus Aid, Relief, and
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