U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement after CFPB Director Richard Cordray announced October 1, 2015 as the new TILA-RESPA effective date:

“This afternoon, Director Cordray called to inform me that the TILA-RESPA Integrated Disclosure rule effective date has been pushed to October 1, 2015. This extension comes as a result of an administrative error on the part of the CFPB. The extension will undoubtedly be helpful for consumers and businesses as it allows more time for enhanced collaboration and proper implementation by the CFPB; however, today’s announcement falls short of instituting the formal hold harmless period sought by nearly 300 Members of the House and Senators. The need for this extension is a reminder to all of us that we are human beings and mistakes are made, and I appreciate Director Cordray’s actions to remedy the situation. It is my sincere hope that CFPB is as understanding of any errors made at the closing table in the months following final TRID implementation.”