Well the CFPB is at it again

Well the CFPB is at it again …

as it just released a new ruling –

...

and this time it pertains to SANTA …

The CFPB feels that when children send SANTA their list, they are applying for services thus this defines an application and TRID rules will apply.

THE TRID CHRISTMAS RULES ARE:

• Briefly the new rules require all letters to SANTA be sent by secure email and SANTA must sign for it using e-sign, within 3 business days.
• The children will get a notification from SANTA when he has opened the letter.
• Now within 3 business days SANTA must send to the children a LIST ESTIMATE. This LE will have built in protections for the children of no greater than 10% of actual presents delivered.
• It is important to mark your calendars for December 16th, because this is 7 business days prior to CHRISTMAS and a CHRISTMAS DISCLOSURE must be ordered.
• The CD will compare the items on the LE to the actual presents going to be delivered to avoid any surprises and for the children to prepare for Christmas morning.
• The CD will be delivered and signed by the children not later than 3 business days prior to the holiday. Power of attorneys are not allowed and the child must sign by e-sign or in person.
• It is unclear how the youngest children who can’t read, write, or walk will get this done; but it is for their protection mind you.
• If the CD is not executed properly, Christmas will be delayed accordingly.

Here’s hoping on CHRISTMAS morning all the kids get what they asked for within 10% and have no surprises--- that’s the NEW holiday Spirit. J

Merry Christmas and Happy New Year,