Consumer Finance Litigation

It's finally here. Over the weekend, the Consumer Financial Protection Bureau's (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) known as the TILA-RESPA Integrated Disclosure or "TRID" for short, became effective. TRID applies to most closed-end consumer credit transactions secured by real property. Specifically, TRID applies to those who did not close on their loans, or who applied for a loan, on or after Saturday October 3, 2015. For those covered, TRID means ...