Banks voice concerns about mortgage-disclosure rules

11/21/2012 | AmericanBanker.com (free registration)

The Consumer Financial Protection Bureau's proposals for streamlining mortgage-disclosure forms could add costs for banks and confusion for borrowers, bankers say. "We are concerned that some aspects of the proposal will add to 'information overload,' detract from the quality of disclosures, and impose unwarranted and unnecessary burdens on creditors," wrote Sy Naqvi, chief executive of PNC Mortgage, in a comment letter.

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