CFPB posts corrections for inadvertent Reg Z omissions
Jan. 4, 2016 -- Technical corrections to Reg Z – and to “official interpretations of Reg Z” – which were inadvertently left out of federal postings have been published by the Consumer Financial Protection Bureau.
The corrections revive provisions that were inadvertently removed from or not incorporated into the Code of Federal Regulations (CFR) by the “Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)” or “TILA-RESPA” final rule. The final rule was published with several unintended deletions of existing regulatory text from Reg Z and the Official Interpretations and an omission of TILA-RESPA regulatory language from the CFR.
No substantive changes have been made to the TILA-RESPA final rule; the corrections were effective as of Dec. 24, 2015.