CFPB Releases TILA-RESPA Integrated Disclosures Small Entity Compliance Guide
Sixteen months before the rule goes into effect August 1, 2015, the Consumer Financial Protection Bureau (CFPB) released the small entity compliance guide for the Truth in Lending Act and Real Estate Settlement Procedures Act (TILA-RESPA) integrated mortgage disclosure rule.
The 89-page guide summarizes the rule and identifies issues to consider during the implementation process, and provides page-by-page overviews of the new disclosures. It also highlights the need to work with your third party service providers to make the necessary changes to comply with the new disclosure rules.
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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