Federal Register - June 3, 2021
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Source: Federal Register
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Federal Register / Vol. 86, No. 105 / Thursday, June 3, 2021 / Rules and Regulations while balancing goals, scale, timeline, feasibility, and available resources.
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BUREAU OF CONSUMER FINANCIAL
PROTECTION
12 CFR Part 1026
Docket No. CFPB20200023
RIN 3170AA83
Higher-Priced Mortgage Loan Escrow Exemption Regulation Z; Correcting Amendments Bureau of Consumer Financial Protection.
ACTION: Final rule; official interpretations; correcting amendments.
AGENCY:
This document corrects the Official Interpretations Commentary to Regulation Z. Specifically, the Bureau of Consumer Financial Protection Bureau is adding a comment to its Commentary that it included in a recent higherpriced mortgage loan escrow exemption final rule but that was not incorporated into the Code of Federal Regulations CFR due to an omission in an amendatory instruction. The Bureau is also revising a comment that it included in the same recent final rule, but that inadvertently did not appear in a subsequently effective final rule.
DATES: The corrections are effective on June 3, 2021.
FOR FURTHER INFORMATION CONTACT:
Joseph Devlin, Senior Counsel, Office of Regulations, at 2024357700 or https
reginquiries.consumerfinance.gov/. If you require this document in an alternative electronic format, please contact CFPB_Accessibility@cfpb.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
I. Background The Bureau is issuing this document to correct two comments in the Bureaus Commentary to Regulation Z, which implements the Truth in Lending Act.1
In the final rule titled Higher-Priced Mortgage Loan Escrow Exemption Regulation Z Escrow Exemption Final Rule, published in the Federal Register on February 17, 2021 86 FR
9840, the Bureau included Paragraph 35b2viB in its commentary text for the rule, but omitted the related amendatory instruction to add that specific paragraph to the Commentary.
This omission was a scriveners error.
The Bureau is therefore issuing this correction to ensure that Paragraph 35b2viB is incorporated into the Commentary published in the CFR.
Additionally, the Bureau is amending the CFR to revise a comment that the Bureau amended in the Escrow Exemption Rule but that inadvertently
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