Advocacy Submits Comments to CFPB on RFI for the TILA RESPA Integrated Disclosure Assessment
On Jan. 16, 2020, the Office of Advocacy submitted a letter to the Bureau of Consumer Financial Protection regarding the Request for Information on Regarding the Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z) Rule Assessment. Advocacy encouraged the Bureau to consider less burdensome alternatives for small entities as part of the assessment process. Specifically, Advocacy believes that the Bureau’s assessment of the rule would benefit from a comprehensive study to determine the economic impact that the TILA-RESPA Integrated Disclosure (TRID) rule has had on small entities and further outreach to small entities to develop less costly alternatives.
For more information, contact Assistant Chief Counsel Jennifer Smith at 202-205-6943.
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