U.S. consumers could suffer from Dodd-Frank, CFPB changes: property site

Massive changes to the Consumer Financial Protection Bureau – or the financial reform law that established it – could hurt U.S. mortgage borrowers who use the agency to fight erroneous charges and foreclosures, according to Trulia, an online real estate marketplace. President Donald Trump recently ordered a review of the Dodd-Frank Wall Street reform law that created the CFPB after the 2007-09 financial crisis to protect individuals from fraud and bad lending, with an eye to cutting it down. Meanwhile, Congress is considering legislation to radically reorganize the CFPB in a way that many bureau supporters say would defang it.


Source: Reuters

Leave a Reply