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What does Bernanke’s failed refi attempt say about the new mortgage rules?
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Consumer Protection
Friday, October 10, 2014
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Did you hear the one about the former Federal Reserve Chairman who tried to get a refi but couldn’t? Attendees at a recent conference in Chicago thought former Fed chief Ben Bernanke was kidding when he admitted during a panel discussion that he recently tried to refinance his mortgage but was unable to do so. The audience laughed, but it was no joke. Could Bernanke’s story impact the continuing debate over the Consumer Financial Protection Bureau’s new mortgage rules? Dodd Frank Update spoke with Richard Andreano, a partner at Ballard Spahr LLP, to get his take.
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