Sec. 108. ESCROW REQUIREMENTS RELATING TO CERTAIN CONSUMER CREDIT TRANSACTIONS

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## SEC. 108 ESCROW REQUIREMENTS RELATING TO CERTAIN CONSUMER CREDIT TRANSACTIONS Section 129D of the Truth in Lending Act (15 U.S.C. 1639d) is amended— ####

(1)in subsection (c)— #####

(A)by redesignating paragraphs

(1)through

(4)as subparagraphs

(A)through (D), respectively, and adjusting the margins accordingly; #####

(B)in the matter preceding subparagraph (A), as so redesignated, by striking “ The Board ” and inserting the following: > > #### “(1) In general > > The Bureau” > ; #####

(C)in paragraph (1), as so redesignated, by striking “the Board” each place that term appears and inserting “the Bureau”; and #####

(D)by adding at the end the following: > > #### “(2) Treatment of loans held by smaller institutions > > The Bureau shall, by regulation, exempt from the requirements of subsection

(a)any loan made by an insured depository institution or an insured credit union secured by a first lien on the principal dwelling of a consumer if— > > > ##### “(A) > > the insured depository institution or insured credit union has assets of $10,000,000,000 or less; > > > ##### “(B) > > during the preceding calendar year, the insured depository institution or insured credit union and its affiliates originated 1,000 or fewer loans secured by a first lien on a principal dwelling; and > > > ##### “(C) > > the transaction satisfies the criteria in sections 1026.35(b)(2)(iii)(A), 1026.35(b)(2)(iii)(D), and 1026.35(b)(2)(v) of title 12, Code of Federal Regulations, or any successor regulation.” > ; and ####

(2)in subsection (i), by adding at the end the following: > > #### “(3) Insured credit union > > The term ‘insured credit union’ has the meaning given the term in section 101 of the Federal Credit Union Act (12 U.S.C. 1752). > > > #### “(4) Insured depository institution > > The term ‘insured depository institution’ has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).” > .

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Sec. 108

ESCROW REQUIREMENTS RELATING TO CERTAIN CONSUMER CREDIT TRANSACTIONS

U.S.C.§ 1639d

U.S.C.§ 1752

U.S.C.§ 1813

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