Newsroom

FOR IMMEDIATE RELEASE

Washington (June 24, 2015) - National Association of Federal Credit Unions (NAFCU) Director of Regulatory Affairs Alicia Nealon issued the following statement in response to the Consumer Financial Protection Bureau's (CFPB) proposed amendment to its Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure rule (TRID).

"While NAFCU is pleased by the CFPB's proposed extension of the effective date of the TILA-RESPA Integrated Disclosures, it is disappointing the CFPB has not taken this opportunity to permit an early compliance period that will provide credit unions with valuable time to test their systems before the implementation date," said Nealon. "NAFCU will continue to urge CFPB to reconsider its position on this issue."

The National Association of Federal Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation's federally insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. www.nafcu.org.

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Patty Briotta
Director of Public Relations
Office:703-842-2820
Cell:703-200-4600
pbriotta@nafcu.org