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Industry groups, consumer advocates weigh in on CFPB’s ability-to-repay rule
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Banking
Monday, January 14, 2013
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The Consumer Financial Protection Bureau received some instant feedback on its new ability-to-repay final rule during a Jan. 10 mortgage policy field hearing in Baltimore. Industry participants and some consumer advocates responded favorably to the final rule and its qualified mortgage provisions. However, one consumer advocate warned that the structure of QM could lead to abuses in the prime lending market. Read on for the details.
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