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‘Rural’ petition bill approved by U.S. House
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Consumer Protection
Tuesday, May 13, 2014
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The U.S. House unanimously approved a bill that would amend the Dodd-Frank Act to establish a public petition process for challenging whether an area is non-rural for the purposes of the Consumer Financial Protection Bureau’s mortgage rules. Rep. Andy Barr, the bill’s sponsor, said the measure would help relieve community banks from burdensome regulations that limit their ability to lend and help create jobs in their communities. Read on to learn about the bill.
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