Rural and Underserved Areas to Have Greater Access to Credit Following CFPB Rule Changes

On September 21, 2015, the Consumer Financial Protection Bureau made changes to its mortgage rules that will enable small lenders to provide greater credit opportunities in rural and underserved areas. Among other things, the new rules increase the loan origination limit for small-creditors to 2,000 from 500 and broaden the definition of "rural areas." [9/22/15]