For consumers, having a little more choice in banking wouldn’t be the worst thing in the world. We’ve certainly seen what banks can do when left to their own devices. But on the other hand, it’s not like the post office is a bastion of economic excellence either.
Third-party updates may be necessary to update transaction coverage and calculations, obtain required information for verifications, incorporate new disclosures, and to make sure your software, compliance, quality-control, and recordkeeping protocols comply with the new rule.
How much of the TILA-RESPA rule implementation have you discussed and planned for in your organization?