Hunt praises CFPB's no-exemption approach to disclosure forms

11/20/2013 | Bloomberg Businessweek

The Consumer Financial Protection Bureau's move to require even small banks to use forms that help consumers compare promised loan terms to actual costs at settlement has been praised by Richard Hunt, CEO and president of CBA. "There should not be different sets of standards which could lead to confusion and uncertainty amongst consumers," Hunt said in a statement. "Moving forward, we hope to see the CFPB apply this same methodology to other areas of their jurisdiction."

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