Note that the American Bankers Association (ABA) has released a transcript of the CFPB’s webinar that is available to ABA members.ĭuring the remarks, the CFPB staff announced that the CFPB will soon release additional guidance material on its website, including a timing calendar to illustrate the various timing requirements under the new rule. Industry members, however, would prefer written guidance. Although the CFPB staff does not plan to issue written Q&A, the staff believes this approach will help facilitate clear guidance on the new rules in an accessible way. In the initial webinar the CFPB staff provided a basic overview of the final rule and new disclosures that we have previously covered.Īccording to the CFPB staff, this webinar and the ones that will follow will be in the format of a spoken Q&A to answer questions that have been posed to the CFPB. The webinar is the second in a planned series intended to address the new rule. On August 26, 2014, the CFPB staff and Federal Reserve Board co-hosted a webinar and addressed questions about the final TILA-RESPA Integrated Disclosures Rule that will be effective for applications received by creditors or mortgage brokers on or after August 1, 2015.
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