A bill to amend the Truth in Lending Act to clarify the application of the qualified mortgage rule to rural lenders, and for other purposes.

Amends the Truth in Lending Act to limit to a city or town with under 50,000 inhabitants the meaning of "rural" with respect to rural lenders which may presume that the applicant for a residential mortgage loan has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments.