TRID Compliance Deadline Extended by Two Days
A few days ago we shared the news that the Consumer Financial Protection Bureau (CFPB) will be issuing a proposed amendment to delay the effective date of the Truth in Lending/Real Estate Settlement Procedures Act Integrated Disclosures rule (TRID) until October 1, 2015.
On June 24, 2015, the CFPB issued the proposal and also announced that the effective date is actually two days later, October 3, 2015. The CFPB pushed it back two days because it felt that a Saturday effective date gives financial institutions needed time over a weekend to launch the new disclosure system.
CLA’s financial institution regulatory compliance team assists banks and credit unions nationwide in establishing regulatory compliance programs, conducting compliance testing, and training staff on regulations. Justin Robinson is a member of CLA’s regulatory compliance team and can be reached at justin.robinson@CLAconnect.com.
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