CFPB explains how it will review mortgage-market players

01/11/2012 | Hill, The · Wall Street Journal, The

The Consumer Financial Protection Bureau is putting into place new procedures for how it will oversee nonbank financial institutions that deal with mortgages. "The mortgage market cannot work well for consumers if the spotlight shines only on one part of it, while the rest is left in darkness," said CFPB Director Richard Cordray. "Our supervision program will illuminate the entire marketplace by making nonbanks play by the same rules as the banks."

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Hill, The · Wall Street Journal, The

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