Two and a half years after passage of the Dodd-Frank Act, two-thirds of its mandated rules have yet to be issued, and more than a hundred of its deadlines have been missed, writes Mark Gongloff of the Huffington Post. “Meanwhile, no banker has yet gone to jail for any of the actions leading up to
“Mortgage servicers will face greater limits on their ability to foreclose on a borrower while simultaneously negotiating a loan modification under new rules issued by the U.S. Consumer Financial Protection Bureau,” Bloomberg’s Carter Dougherty reports. The new rules “go further” than the bureau’s first proposal did to restrict the practice known as dual-tracking, the story
AFR Executive Director Lisa Donner talks to NPR about the importance of holding mortgage lenders accountable for unaffordable loans.
The rules… are “likely to resemble” an October draft that “extended a legal safe harbor to loans issued at prime interest rates to borrowers whose total debt-to-income ratio doesn’t exceed 43 percent.”
Fund backed by physical copper “effectively creates a corner on the market,” AFR’s Marcus Stanley tells The New Republic.
Industry leaders and their political allies are seeking broad changes in the guise of “technical fixes,” says AFR’s Lisa Donner.