CUNA, NAFCU and other trades also ask for written guidance.
The Consumer Financial Protection Bureau issued a final rule Nov. 20 that requires the use of new, simplified mortgage disclosure forms available in English and Spanish that detail the terms of a mortgage to homebuyers.
But Dodd-Frank requires fees and closing costs to be included in calculations, so bureau finding a way, director said.
Regulators fiddle while Rome set to burn.
Credit unions can now comment on the Consumer Financial Protection Bureau’s latest draft of its mortgage disclosure forms.
During its first month in existence, the Consumer Financial Protection Bureau has spoken softly and not carried a big stick.