Today, the Consumer Financial Protection Bureau issued a Proposed Rule to further delay the effective date of the TRID Rule from October 1, 2015 as originally announced last week, to October 3, 2015. The CFPB selected Saturday, October 3rd, instead of Thursday, October 1st, to allow for a smoother implementation by allowing the industry time over the weekend to launch and test their systems. The CFPB also said that a Saturday launch is consistent with the original plan to implement TRID on Saturday, August 1st.

Complete Memorandum