CCR World Magazine


You are here  :Home arrow News arrow ABA Statement on CFPB TRID Delay
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
ABA Statement on CFPB TRID Delay Print E-mail
Thursday, 18 June 2015

Frank Keating, president and CEO of The American Bankers Association (ABA), said:

“The ABA is pleased that the Consumer Financial Protection Bureau (CFPB) is extending the effective date to October 1 for the ground-breaking Know Before You Owe mortgage disclosure rule.

"This extension will help protect consumers from disruptions during a traditionally busy period for home purchases. It will also help to assure new loan origination systems and compliance software under development by lenders and the vendors on whom they rely will be adequately installed and debugged, and staff training completed, before the effective date.


“ABA also thanks CFPB for their announced intent to maintain an initial supervisory and enforcement approach that takes into account good-faith efforts by lenders to comply. The TRID rules (TILA-RESPA Integrated Disclosure rules) are among the most complex with which the banking industry has had to come into compliance, and the quality of compliance should be expected to improve based on the industry’s learning curve once systems go live.”

(Source - ABA News Release)  

 

The CCR World App

 

Read CCR World as an App on your iPad or iPhone.
Simply click on this link (opens iTunes as an external link) to see the CCR World iTunes Preview and download to receive a free two-week trial or go to iTunes or the App Store and search for "CCR World".

CCR Magazine


Want to know more about the UK credit scene? Then take a look at our sister magazine, CCR, the leading UK publication for senior credit industry executives.

Find out more

CCR World newswire

Sign up to our E-Newsletter and E-Alerts.

subscribe

Read The Magazine - FREE ONLINE!

CCR World is the premier magazine for consumer and commercial credit professionals. It provides an independent voice to the global industry, breaking news stories and running in-depth features.

It is FREE to read online, so click here to read the current edition online.

(If you have not registered already, you will just need to do so to read all the news and analysis).

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197