CBA Statement on CFPB Announcement of TRID Delay

 

Washington, D.C. – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), released the following statement in response to today’s news from CFPB Director, Richard Cordray, that the Bureau will delay the effective date of the CFPB’s TILA-RESPA Integrated Disclosure (TRID) regulation:

“The Director’s decision to delay the effective date of TRID will help the industry as it approaches the date for transition to the new mortgage disclosure rule.  Though banks have been working with their vendors to ensure a smooth integration, this additional time will help consumers and bankers in their ongoing partnership to achieve a more streamlined consumer experience in mortgage origination,” said CBA’s President and CEO Richard Hunt.

About CBA
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.

The Consumer Bankers Association is the recognized voice on retail banking issues in the nation’s capital. Founded in 1919, CBA provides leadership, education, research and federal representation on retail banking issues. For more information, please contact Maggie Seidel, mseidel@consumerbankers.com, (571) 447-0197 or visit www.consumerbankers.com.

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