The Federal Financial Institutions Examination Council should “formally establish a transition period” in anticipation of the new TILA-RESPA integrated disclosures taking effect Oct. 3, ABA said in a letter to top financial regulators today.
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With bipartisan majorities, the House Financial Services Committee yesterday passed several bills that are part of ABA’s Agenda for America’s Hometown Banks.
The Consumer Financial Protection Bureau yesterday released the Spanish version of “Your Home Loan Toolkit,” intended to help consumers understand the new Loan Estimate and Closing Disclosure forms that lenders are required to begin providing in October.
As formally proposed, the Consumer Financial Protection Bureau today finalized Oct. 3 as the new effective date for the TILA-RESPA integrated disclosures.
Consumer Financial Protection Bureau Director Richard Cordray appeared before the Senate Banking Committee today and said during the question-and-answer period that the CFPB intends to revisit the income-verification standards under the Ability-to-Repay Rule.
ABA and other financial services groups yesterday urged the Senate to pass S.1711, which would provide lenders with a temporary safe harbor from enforcement of the TILA-RESPA integrated disclosures, expected to become effective Oct. 3.
Sen. Tim Scott (R-S.C.), joined by 10 bipartisan co-sponsors, this week introduced a bill that would provide lenders with a temporary safe harbor from enforcement of the TILA-RESPA integrated disclosures, expected to be implemented starting Oct. 3.
ABA yesterday said it welcomed the Consumer Financial Protection Bureau’s proposed delay of implementation of the TILA-RESPA integrated disclosures to Oct. 3.
The Consumer Financial Protection Bureau and the OCC have both recently released free resources to help bankers prepare for the TILA-RESPA integrated disclosures, now expected to become effective on Oct. 3.