MHI and U.S. Chamber Suggest CFPB Guidelines

One day before the House Financial Services Committee holds a hearing on the impact of Dodd-Frank on small business lending, the U.S. Chamber of Commerce, along with the Manufactured Housing Institute (MHI) and other business groups, proposed recommendations for the new Consumer Financial Protection Bureau (CFPB).  According to MHI, the letter to Congress and Treasury Secretary Geithner suggested the bureau address the issues of consumer protection and lender transparency, small business access to credit, consistent regulation of federal and state lending, and the availability of ample financial products for consumers.  It also said rules for the bureau’s operation should not be made until a director is chosen.  MHI’s Executive Vice-President Thayer Long, said, “It is imperative that the CFPB promote policies and regulations that do not stem consumer and business access to capital.”   Click here to read the full MHI report.

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