Industry Groups Urge CFPB To Drop New APR Calculation
September 17, 2012
Sixteen industry trade groups urged the Consumer Financial Protection Bureau to abandon a proposal to create a new, higher “all in” annual percentage rate calculation that would include additional fees and charges. The APR measure is one part of the CFPB’s massive proposed rule designed to streamline and harmonize mortgage disclosure requirements under the Truth in Lending Act and Real Estate Settlement Procedures Act. The trade groups pointed out that the bureau’s own research indicates that consumers confuse the APR...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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