The CFPB updated their 2022 Rural and Underserved Areas and Counties lists to assist with Truth-in-Lending compliance. These areas, including much of our Big Sky state, are exempt from some provisions of lending regulations and may be referenced in your loan policies.
The rural and underserved list includes all Montana counties except Carbon, Cascade, Missoula, and Yellowstone. The rural list is identical, except it does include Golden Valley. While Carbon and Stillwater Counties are very low population areas, they are included as part of the Billings area metropolitan statistic area (MSA) that is used for HMDA reporting.
In addition to the lists, credit unions should consider using the online tool for more accuracy. It also provides safe harbor when used to determine if a property is located in a rural or underserved area.