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As proposed back in March, the Consumer Financial Protection Bureau (CFPB or Bureau) has now formally delayed the mandatory compliance date for the new general qualified mortgage (QM) rule to October 1, 2022, effective June 30. In doing so, the CFPB asserts that the move will enhance credit opportunities for the underbanked and those still suffering from the effects of the COVID-19 pandemic. While that may arguably appear so, we explain below why it won’t as yet have the identified desired effect, and may be serving an entirely different agenda.