Comments due on CFPB request for input for its assessment of the TRID Rule
As part of its assessment, the Bureau stated it intends to address the TRID Rule’s effectiveness in meeting the purposes and objectives of Title X of the Dodd-Frank Act, the specific goals of the rule, and other relevant factors. Section 1022(d) of the Dodd-Frank Act requires the Bureau to publish a report of its assessment within five years after the effective date of the rule being assessed (the TRID Rule became effective on October 3, 2015).
The public is invited to comment on the feasibility and effectiveness of the assessment plan, recommendations to improve the assessment plan, and recommendations for modifying, expanding, or eliminating the TRID Rule, among other questions. The comment period will open upon publication of the notice in the Federal Register [scheduled for November 22] and will close on January 21, 2020.