FOR IMMEDIATE RELEASE
Washington, D.C. (February 27, 2018) – Tonight, the CUNA-backed TRID Improvement Act of 2018 (H.R. 5078) passed in the House with a 53-5 vote. Amendments under the bill include clarifications to the Real Estate Settlement Procedures Act, requiring the Consumer Financial Protection Bureau to allow the accurate disclosure of title insurance premiums and any potential available discounts to home buyers.
“This is a common-sense piece of legislation that would reduce confusion associated with the ability for title insurance companies to disclose available discounts,” said CUNA President/CEO Jim Nussle. “This kind of targeted regulatory relief benefits credit unions and consumers, who will have easier access to potential discounts. CUNA will continue our engagement with policymakers to see this bill move forward.”
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.