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Announcement on TRID regulation is a step in the right direction


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On Wednesday, June 3, the Consumer Financial Protection Bureau (CFPB) announced that it would be "sensitive" to companies that make a good-faith effort to comply with the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure (TRID) regulation that goes into effect on August 1, 2015. The announcement by CFPB is a net win but less than what some members of Congress requested, which was a hard deadline, five-month testing or "grace" period. 

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