The Consumer Financial Protection Bureau released an updated frequently asked questions document on its Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosure (TRID) rule. The document was previously updated in May.
Though the questions and answers in the document are intended to aid compliance with TRID, the CFPB notes that reviewing the document is “not a substitute for reviewing the Truth in Lending Act, the Real Estate Settlement Procedures Act, Regulation Z or its official interpretations, which the bureau notes are the “definitive sources of information regarding the requirements.
Information included in the update includes answers to the following questions:
In addition to the CompBlog, CUNA’s Compliance Community contains discussion boards and a number of other resources for credit union compliance professionals around the country.