CUNAâs comment letter is supportive of the CFPBâs proposal to broaden the definition of a âruralâ area, but states that the proposed rule should go farther and provide impact analyses to show how communities, consumers, and creditors would be affected if the yearly loan limit was increased from 2,000 to 2,500, 3,000, 3,500, etc. In addition, the small creditor asset limit of $2 billion may be arbitrary and CUNA is asking for consideration to be given to raising the limit. [3/31/15]
CUNA Says CFPB Should Increase Relief in âRuralâ Definition Rule
Go to this article
CUNAâs comment letter is supportive of the CFPBâs proposal to broaden the definition of a âruralâ area, but states that the proposed rule should go farther and provide impact analyses to show how communities, consumers, and creditors would be affected if the yearly loan limit was increased from 2,000 to 2,500, 3,000, 3,500, etc. In addition, the small creditor asset limit of $2 billion may be arbitrary and CUNA is asking for consideration to be given to raising the limit. [3/31/15]