Late yesterday, the Consumer Financial Protection Bureau’s Director, Richard Cordray, issued a statement on the implementation date of the TILA-RESPA Integrated Disclosure (TRID) rule. It states, in part:
“The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 1, 2015.” This decision is to correct an administrative error that would delay the effective date by two weeks, per federal law.
You can read the complete notice on the CFPB website.
Our CFPB project teams continue to aggressively and diligently work on this initiative to ensure that our network of Trusted Providers are well prepared to meet the new requirements. We wil
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