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Lawmakers amplify QM community bank concerns
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Consumer Protection
Friday, April 11, 2014
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U.S. House Republicans say they’re seeing evidence that new regulations are forcing some community institutions out of the mortgage business. They discussed their concerns during an April 8 hearing that examined the impact of regulation on financial institutions and consumers. House Financial Services Committee Chairman Jeb Hensarling, R-Texas, shared a portion of a letter he received from a community banker in his state who said consumer lending has become a “compliance nightmare.”
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