Tag Archives: Cordray

CFPB Extends TRID Effective Date to October 1

The Consumer Financial Protection Bureau (“CFPB”) announced that it would provide mortgage lenders with additional time to prepare for the highly anticipated TILA-RESPA Integrated Disclosures (“TRID”). Since the issuance of TRID’s final regulations in November 2013, mortgage lenders have been frantically preparing for its effective date of August 1, 2015. Generally speaking, TRID will consolidate … Continue reading this entry

As the CFPB Turns ... And Other Consumer Financial Services News

In this week’s episode of As the CFPB Turns questions remain regarding Director(?) Richard Cordray’s constitutional authority to act as the Director of the CFPB.  House Financial Services Committee Chairman, Jeb Hensarling, R-Texas, advised Cordray that the D.C. Circuit’s recent decision, which found that President Obama’s recess appointments to the National Labor Relations Board were … Continue reading this entry

Revealing UDAAP Comments From Cordray

Yesterday, CFPB Director Cordray delivered a speech to the Consumer Advisory Board in Washington, D.C. The director’s prepared remarks are revealing and likely foreshadow more of what is to come for our industry. First, Director Cordray emphasized the importance of the Bureau’s UDAAP duties: The new financial reform law makes it illegal to engage in … Continue reading this entry