CUNA is seeking comments by Oct. 11 on the Consumer Financial Protection Bureau’s (CFPB) proposed amendments to its Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosures (TRID) rule. First proposed in July, the TRID changes contain a number of CUNA-requested clarifications.
TRID went into effect Oct. 3, 2015, and the current proposal attempts to fix a number of operational and technical with the original rule, but is not intended to open up the rule for significant policy changes.
CUNA has pushed for changes in TRID since the beginning of 2016, and CUNA President/CEO Jim Nussle said that by issuing the proposal the bureau shows that “they are listening when CUNA, the leagues and credit unions speak.”
The proposed TRID amendments memorialize the bureau's informal guidance on various issues, include clarifications and technical amendments, and propose:
Comments are due to the CFPB by Oct. 18.