Removing Barriers Blog

CUNA Sends Letter to House on Issues with TRID Compliance
Posted April 05, 2016 by CUNA Advocacy

Today we sent a letter to Representatives Blaine Luetkemeyer (R-Mo.) and Randy Neugebauer (R-Tex.) in response to their request for information regarding the CFPB’s new TILA/RESPA Integrated Disclosure (TRID) forms.

Since the beginning of the TRID regulatory process, we have been committed to helping member credit unions comply with this massive and complex rule.  Our most recent letter to Congress outlined ways we think the CFPB could help credit unions comply with the rule—namely, by providing written guidance and/or some amendments to the underlying regulation.

We also expressed that the CFPB could help by including the ability to cure errors or defects, issues with construction loans and title premiums, lender credits and principal reduction, and clarity on liability matters.  The issues addressed in out letter can be found in their entirety here.

We appreciate Representative Luetkemeyer and Neugebauer’s engagement on the TRID issue, and we will continue work with them and the CFPB to ensure that credit unions are able to comply fully with this rule.