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Wednesday, July 22, 2015

CFPB Finalizes TRID Delay to Oct. 3

As formally proposed, the Consumer Financial Protection Bureau yesterday finalized Oct. 3 as the new effective date for 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.

Read the final rule.