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CBAI Urges a Grace Period in TRID Implementation

July 2, 2015

The Consumer Financial Protection Bureau (CFPB) has proposed a delay in the implementation of the new TILA-RESPA Integrated Disclosure (TRID) for two months until October 3, 2015. In a July 2, 2015 comment letter to the CFPB the CBAI supported a delay in the TRID implementation and also urged a period of restrained enforcement and liability (a clearly-defined grace period) for banks attempting to comply in good faith with the regulations between the proposed new effective date (October 3, 2015) through January of 2016. Read CBAI Comment Letter.