Review of TILA-RESPA Integrated Disclosure Rule, UDAAP, and Important Dodd-Frank Provisions

Review of TILA-RESPA Integrated Disclosure Rule, UDAAP, and Important Dodd-Frank Provisions

Learn why you need to pay extra attention to the various examination manuals issued by the CFPB. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) is one of the most significant consumer financial protection laws in the history of the country. One of the main elements of Dodd-Frank is the creation of the Consumer Financial Protection Bureau (CFPB), along with the consolidation of most federal consumer financial protection laws under the authority of the CFPB and the creation of supervisory authority over nonbank mortgage lenders. This topic will address why companies offering consumer financial products or services should pay attention to the various examination manuals issued by the CFPB. The material also will address the broad grant of authority under Dodd-Frank to the CFPB to address unfair, deceptive and abusive acts and practice, including the limited guidance that exists and lessons learned from certain CFPB enforcement actions. The topic will provide an update on the CFPB ability to repay rule for mortgage loans, and qualified mortgages that have a more favorable status under the rule. Finally, the topic will address the RESPA/TILA Integrated Disclosure (TRID) rule that combines the application and closing disclosures under the statutes that became effective in October 2015, and a recent proposal to amend the TRID rule.

Learning Objectives