Ability-to-repay rule will have unintended consequences, Hensarling warns

Some industry participants may be greeting the Consumer Financial Protection Bureau’s new ability-to-repay final rule with cautious optimism, but a top U.S. House Republican made it clear he is not a fan of the bureau’s most important mortgage rule to date. Rep. Jeb Hensarling, chairman of the House Financial Services Committee, promised the panel would examine the rule’s impact.