Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Thursday, June 25, 2015

CFPB Formally Proposes TRID Delay to Oct. 3

The CFPB issued its formal proposal delaying the effective date of the TILA-RESPA integrated disclosures.

The bureau attributed its decision in part to an administrative error in which it failed to notify Congress 60 days prior to the rule taking effect as required by law but also acknowledged that “moving the effective date may benefit both industry and consumers with a smoother transition to the new rules,” as ABA had advocated.

Under the proposal, the new disclosures would come into effect on Saturday, Oct. 3, more than two months after the original effective date. The bureau set the effective date for a Saturday to give the industry time over a weekend to reconfigure and test systems. Comments on the proposed delay are due by July 7.

Read the proposed rule.

No comments:

Post a Comment

Please read our comment policy before making a comment.