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Community institutions quiz CFPB on mortgage issues and beyond (pt. 2)
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Consumer Protection
Wednesday, February 19, 2014
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The Consumer Financial Protection Bureau may not have the authority to scrutinize community banks and credit unions, but the agency’s rules and policies have a direct impact on these small lenders. On Feb. 12, credit union professionals had the opportunity to question CFPB leaders about specific provisions of the agency’s new mortgage rules and about its other policy initiatives. Read on to learn what bureau leaders had to say about the future of balloon mortgages and the possibility of revising other rules related to loan originator compensation, appraisals for higher-priced mortgages and remittance transfers.
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