Fed HOEPA Hearing Underscores Importance of Consumer Understanding of Process, Products and Role of Brokers
June 15, 2006
Consumer education, financial literacy and clarification of the role of mortgage brokers are emerging as the leading defenses against lending abuses, but regulators can do more to protect consumers against bad lending practices and bad financial decisions, according to panelists during a public hearing hosted by the Federal Reserve Bank of Philadelphia last week. …