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.
Learn more here.
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