Industry Tells FDIC Ombudsman That TRID is ‘Costly’ and ‘Confuses Customers’

October 8, 2019

The Federal Deposit Insurance Corp.’s Office of the Ombudsman issued it’s 2018 annual report, which included key regulatory issued highlighted by the industry. Among the findings, the industry says the TILA-RESPA Integrated Disclosure rule is time consuming and costly, compliance training is a major undertaking and disclosure requirements result in a large volume of paperwork and information that confuses customers.

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