The CFPB Thursday published an assessment of the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosure (TRID) rule. Of note, the bureau found that TRID has "improved consumers' ability to locate key [...]
CUNA’s compliance team has received a number of questions recently that makes one thing perfectly clear: One year later, TRID continues to present challenges for credit unions. TRID stands for the Truth in Lending [...]
Earlier this year, the CFPB released a compliance bulletin warning mortgage lenders that marketing service agreements, or MSAs, present substantial risks involving illegal kickbacks and referral fees under RESPA, the Real Estate Settlement Procedures Act. [...]
It’s never easy to overhaul a time-honored practice, even if that convention might be flawed and the solution promises to reduce paperwork for all parties involved. Case in point: The Consumer Financial Protection Bureau’[...]
The CFPB released a second update to its examination procedures to give guidance to financial institutions and mortgage companies on what the bureau will be looking for as its new mortgage rules take effect. The [...]
The CFPB has told lawmakers it is still reviewing comments received on its one last pending rulemaking on mortgage lending – the combined disclosures – in an effort to ensure meaningful consumer disclosure while avoiding unnecessary delays [...]
