CFPA

President Obama’s proposed Consumer Financial Protection Agency would have the power to prohibit abusive, discriminatory lending across the country—which would help to avoid another foreclosure crisis. The CFPA would be able to extend consumer protections to any lender, including currently-unregulated mortgage lenders, who made most of the risky loans that caused the foreclosure crisis. The CFPA would promote transparency and real disclosure—not endless pages of incomprehensible fine print.

By Adam Levitin for the Pew Financial Reform Project
 
Abstract