This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents.

Rules and Regulations Federal Register

8283 

Vol. 86, No. 23 

Friday, February 5, 2021 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

12 CFR Part 1026 

[Docket No. CFPB–2020–0028] 

RIN 3170–AA98 

Qualified Mortgage Definition Under 

the Truth in Lending Act (Regulation 

Z): Seasoned QM Loan Definition; 

Correction 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Final rule; correction. 

SUMMARY: The Bureau of Consumer 

Financial Protection (Bureau) recently 

published ‘‘Qualified Mortgage 

Definition Under the Truth in Lending 

Act (Regulation Z): Seasoned QM Loan 

Definition,’’ which appeared in the 

Federal Register on December 29, 2020. 

This document corrects a scrivener’s 

error in an amendatory instruction in 

that document. 

DATES: Effective March 1, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Amanda Quester, Senior Counsel, Office 

of Regulations, at (202) 435–7700. If you 

require this document in an alternative 

electronic format, please contact CFPB_

Accessibility@cfpb.gov. 

SUPPLEMENTARY INFORMATION: In FR Doc. 

2020–27571 appearing on page 86402 in 

the Federal Register of Tuesday, 

December 29, 2020, the following 

correction is made: 

§ 1026.43 [Corrected]

■ On page 86452, in the second column, 

in amendment 2, the instruction

‘‘Amend § 1026.43 by revising

paragraphs (e)(1) and (e)(2) introductory

text and adding paragraph (e)(7) to read

as follows: ’’ is corrected to read:

‘‘Amend § 1026.43 by revising the

headings for paragraphs (e) and (e)(1)

and paragraphs (e)(1)(i) and (e)(2)

introductory text and adding paragraph

(e)(7) to read as follows:’’.

Dated: January 15, 2021. 

Grace Feola, 

Federal Register Liaison, Bureau of Consumer 

Financial Protection. 

[FR Doc. 2021–01387 Filed 2–4–21; 8:45 am] 

BILLING CODE 4810–AM–P 

SMALL BUSINESS ADMINISTRATION 

13 CFR Part 120 

[Docket Number SBA–2021–0006] 

RIN 3245–AH65 

DEPARTMENT OF THE TREASURY 

RIN 1505–AC75 

Business Loan Program Temporary 

Changes; Paycheck Protection 

Program—Loan Forgiveness 

Requirements and Loan Review 

Procedures as Amended by Economic 

Aid Act 

AGENCY: U.S. Small Business 

Administration; Department of the 

Treasury. 

ACTION: Interim final rule. 

SUMMARY: This interim final rule 

implements changes related to the 

forgiveness and review of loans made 

under the Paycheck Protection Program 

(PPP), which was originally established 

under the Coronavirus Aid, Relief, and 

Economic Security Act (CARES Act) to 

provide economic relief to small 

businesses nationwide adversely 

impacted by the Coronavirus Disease 

2019 (COVID–19). On December 27, 

2020, the Economic Aid to Hard-Hit 

Small Businesses, Nonprofits, and 

Venues Act (Economic Aid Act) was 

enacted, extending the authority to 

make PPP loans through March 31, 

2021, revising certain PPP requirements, 

and permitting second draw PPP loans. 

This interim final rule consolidates 

prior rules related to forgiveness and 

reviews of PPP loans and incorporates 

changes made by the Economic Aid Act, 

including with respect to forgiveness of 

second draw PPP loans. 

DATES: 

Effective date: Unless otherwise 

specified in the Economic Aid Act, the 

provisions of this interim final rule are 

effective February 3, 2021. 

Applicability date: This interim final 

rule applies to Paycheck Protection 

Programs loans for which a loan 

forgiveness payment had not been 

remitted by SBA as of December 27, 

2020. Parts IV.6.c., IV.7 and V of this 

interim final rule, Paycheck Protection 

Program SBA Loan Review Procedures 

and Related Borrower and Lender 

Responsibilities, apply to all Paycheck 

Protection Program loans. 

Comment date: Comments must be 

received on or before March 8, 2021. 

ADDRESSES: You may submit comments, 

identified by number SBA–2021–0006 

through the Federal eRulemaking Portal: 

http://www.regulations.gov. Follow the 

instructions for submitting comments. 

SBA will post all comments on 

www.regulations.gov. If you wish to 

submit confidential business 

information (CBI) as defined in the User 

Notice at www.regulations.gov, please 

send an email to ppp-ifr@sba.gov. All 

other comments must be submitted 

through the Federal eRulemaking Portal 

described above. Highlight the 

information that you consider to be CBI 

and explain why you believe SBA 

should hold this information as 

confidential. SBA will review the 

information and make the final 

determination whether it will publish 

the information. 

FOR FURTHER INFORMATION CONTACT: A 

Call Center Representative at 833–572– 

0502, or the local SBA Field Office; the 

list of offices can be found at https://

www.sba.gov/tools/local-assistance/ 

districtoffices. 

SUPPLEMENTARY INFORMATION: 

I. Background Information

On March 13, 2020, President Trump

declared the ongoing Coronavirus 

Disease 2019 (COVID–19) pandemic of 

sufficient severity and magnitude to 

warrant an emergency declaration for all 

States, territories, and the District of 

Columbia. With the COVID–19 

emergency, many small businesses 

nationwide continue to experience 

economic hardship as a direct result of 

the Federal, State, and local public 

health measures that continue to be 

taken to minimize the public’s exposure 

to the virus. In addition, based on the 

advice of public health officials, other 

voluntary measures continue to be 

observed, resulting in a decrease in 

economic activity as the public avoids 

malls, retail stores, and other 

businesses. 

On March 27, 2020, the President 

signed the Coronavirus Aid, Relief, and 


jbell on DSKJLSW7X2PROD with RULES