CFPB Proposes Oct.3 Effective Date for TRID

June 25, 2015

The Consumer Financial Protection Bureau (CFPB) on June 24 issued a proposed amendment to delay implementation of the TILA-RESPA Integrated Disclosures rule until Saturday, Oct. 3. In its proposal outlining the new deadline, the bureau indicated that in recent weeks it learned delays in the delivery of system updates have left creditors and others with limited time to fully test all of their systems. Additionally, the CFPB said that scheduling the effective date on a Saturday “may allow for smoother implementation by affording industry time over the weekend to launch new systems configurations and to test systems."

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