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CFPB to Delay TRID Effective Date to Oct. 1

Posted on 6/18/2015

CFPB Director Richard Cordray announced yesterday that the bureau is proposing to push back the effective date of the TILA-RESPA integrated disclosures by two months, from Aug. 1 to Oct. 1, in an effort to avoid closing headaches as the busy fall homebuying season kicks off. The CFPB will issue a proposed rule making the change shortly.

"We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks," Cordray said. "We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time."

To read Cordray's statement visit: http://abamaestro.aba.com/trk/click?ref=zt50ebrbb_0-11cigiv-0-2cd0x35c17x311378&



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