CFPB Pushes Mortgage Rule Deadline To Year's End

Law360, New York (May 31, 2012, 7:18 PM EDT) -- The Consumer Financial Protection Bureau on Thursday pushed back a deadline to finish inking a set of guidelines for banks and mortgage brokers that will aim to prevent lenders from giving credit to those who can't afford to pay it back.

Reopening the public comment period on its proposed legislation until July, the CFPB said it has received new mortgage loan data from the Federal Housing Finance Agency that it wants banking organizations and consumer groups to comment on. The federal agency had planned to finalize...
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