CFPB Striving for a Smooth Transition of âKnow Before You Oweâ Disclosure Rule
The âKnow Before You Oweâ mortgage disclosure rule, requiring lenders to provide easily-readable disclosure forms to applicants, has been finalized for October 3, 2015 as the effective date. The CFPB believes that pushing the date back several months will benefit both financial institutions and their consumers by giving the financial industry time to adapt to the ruling and implement new systems. [7/22/15]
