Response to ANPR on Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z)

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Dear Director Kraninger:

I appreciate the opportunity to comment on the Consumer Financial Protection Bureau’s (CFPB) advanced notice of proposed rulemaking (ANPR) on the Qualified Mortgage Definition under the Truth in Lending Act (TILA) (Regulation Z).

The Cato Institute is a public policy research organization dedicated to the principles of individual liberty, limited government, free markets, and peace. Cato’s Center for Monetary and Financial Alternatives, at which I am a policy analyst, is dedicated to building a better tomorrow through monetary and financial alternatives — exploring policy reforms that capture the power of markets to provide for people’s welfare and developing ideas for a robust, resilient, innovative, and inclusive monetary and financial system worthy of a free and prosperous society.

I thank you and the CFPB for your leadership in the discussion of how consumer protection rules can encourage an inclusive, competitive, innovative, and stable mortgage market.

Diego Zuluaga

Diego Zuluaga is a policy analyst at the Cato Institute’s Center for Monetary and Financial Alternatives, where he covers financial technology and consumer credit.