The Hill News

Positive reaction last week from both bank lobbyists and consumer advocates to proposed new mortgage disclosures is a coup for the Consumer Financial Protection Bureau, the powerful new Washington agency under attack by Republicans who fought its creation as part of last year’s regulatory overhaul.
 
But even harder than getting the American Bankers Association and Consumer Federation of America on the same page is ensuring U.S. consumers actually understand the home loans they’re being sold, so they don’t get taken advantage of or unwittingly contribute to another financial crisis. That’s what the revamped disclosure forms are designed to do â€" and they’re about to get their first field test this summer.

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