Business & Corporate
An Overview of the Consumer Financial Protection Bureau's Ability-to-Repay and Qualified Mortgage Rule
Sanford Shatz
On January 10, 2013, the Consumer Financial Protection Bureau released its final Ability-to-Repay and Qualified Mortgage Rule, effective January 10, 2014. This article will look at that rule by first exploring the background and financial situation that led to the release of the rule, Congress' statutory enactments permitting the rule, and the final rule itself.