What Is Meant By a âGood Faithâ Effort to Comply?
Thatâs the question that many are asking in light of the CFPBâs statement that it will consider a financial institutionâs good faith effort to comply with the requirements for the new TILA/RESPA combined disclosure in its examinations. Other regulators have been urged to follow suit. A new Fact Sheet issued by the CFPB clarifies some of the delivery issues being raised by financial institutions. [6/8/15]
