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Financial Services Law Insights and Observations

CFPB Updates TILA-RESPA Integrated Disclosure Rule Compliance Guide

CFPB TILA RESPA Federal Issues

Consumer Finance

On September 8, the CFPB released an updated Small Entity Compliance Guide for its TILA-RESPA Integrated Disclosure Rule, which becomes effective next August. The updates include information on where to find additional resources on the rule, additional clarification on questions relating to the Loan Estimate and 7 day waiting period, and additional clarification on questions relating to the timing for revisions to the Loan Estimate. The new guides follow a recent webinar hosted by the CFPB and the Federal Reserve Board to address rule implementation.