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Federal Reserve Proposes Rule Pertaining to a Consumer’s Ability to Repay a Mortgage

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The Federal Reserve Board has requested public comment on a proposed rule under Regulation Z that would require creditors to determine a consumer’s ability to repay a mortgage before making the loan and would establish minimum mortgage underwriting standards. The revisions to the regulation, which implements the Truth in Lending... Read More

Topics: Banking, Consumer Protection

CFPB and National Association of Attorneys General Presidential Initiative Working Group Release Joint Statement of Principles

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The Consumer Financial Protection Bureau, or CFPB, and the Presidential Initiative Working Group of the National Association of Attorneys General announced agreement on a Joint Statement of Principles, the first step in forging a new partnership between federal and state officials to protect consumers of financial products and services.  In... Read More

Topics: Consumer Protection