Representatives of banks and credit unions urged the CFPB to amend its proposed rule on mandatory escrow accounts for higher-priced mortgage loans, including expanding the definitions of ‘rural’ and ‘underserved’ areas, which are the criteria for locales where banks are exempt from the escrow rule, as well as rules related to balloon payments and qualified mortgages. Under the January 2013 rule, small creditors that meet certain loan and asset limits and that operate predominately in rural or underserved areas will be exempt from...