This is the final installment of my series of blogs covering the sessions I attended at this year’s American Banker’s Association (ABA) Regulatory Compliance Conference (RCC) in New Orleans.
This was a high level session that included a brief overview of the new Loan Estimate and Closing Disclosure. I believe that the biggest takeaway; however, was related to the implementation planning of this monster! The panel indicated that financial institutions must build a “long runway” for completion and implementation of the integrated disclosures project. August 2015 sounds like a long time from now but there’s a lot to do between now and then. Training, systems, software, forms, policies, procedures, testing, resources, documentation and much, much more!
Will you be ready?