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Industry leaders share initial thoughts on CFPB’s servicing rules
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Banking
Monday, January 21, 2013
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Trade groups and industry participants have been measured in their response to sweeping new servicing rules issued by the Consumer Financial Protection Bureau. A number of industry associations praised the CFPB for expanding an exemption for smaller servicers; however, some expressed concern that the exemption is still too narrow. They also said other rule provisions could place a significant burden on community institutions. Read on for the details.
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