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CFPB proposes to delay TILA-RESPA integrated disclosures date

Consumer Financial Protection Bureau Director Richard Cordray announced today the bureau is proposing to push back the effective date of the TILA-RESPA integrated disclosures by two months.

The ABA first reported the news to its member banks and state bankers associations.

The proposed date change is from Aug. 1 to Oct. 1.

"We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks," Cordray said. "We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time."

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