On October 25, 2021, the Board of Governors of the Federal Reserve System issued Consumer Affairs Letter (CA 21-14) announcing revised Interagency Examination Procedures for Regulation Z. The comprehensive procedures are 384 pages in length. The revised procedures reflect amendments to Regulation Z published by the Consumer Financial Protection Bureau in 2020 and 2021:

  1. Implementing permanent changes to Regulation Z’s qualified mortgage provisions, and
  2. Implementing an extension and phase-out for the GSE Patch, which had originally carried a January 10, 2021 sunset date under the Ability to Repay/Qualified Mortgage rule and which will now sunset on October 1, 2022.

While the procedures have been updated through October 2021, the page footers reflect a September 2020 revision date.