The Fed is Finally Working Towards Transparency in Mortgages
On Monday, Fed Chairman “Big Ben” Bernanke announced that the Board had approved a final rule to amend Regulation Z (Truth in Lending). In a prepared statement, Bernanke announced that the changes are “intended to protect consumers from unfair or deceptive acts and practices in mortgage lending, while keeping credit available to qualified borrowers and supporting sustainable homeownership.” He also noted that the rules will apply to all mortgage lenders. As written, the plan will, among othe
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