Banks Push Fed to Curb Borrowers’ Right to Rescind Mortgages

Via Bloomberg By Carter Dougherty – Dec 15, 2010. Mortgage firms are pressing the Federal Reserve to curb homeowners’ right to invalidate loans based on flawed documents — a right consumer groups say is one of the few weapons borrowers have to battle unfair lending. Consumer groups and industry lawyers say a rule under consideration by the central bank would …

Fed tightens fee harvester, other credit card rules

From the Federal Reserve System Board of Governors. The Federal Reserve Board on Tuesday proposed a rule amending Regulation Z (Truth in Lending) to clarify aspects of the Board’s rules protecting consumers who use credit cards. The proposal is intended to enhance protections for consumers and to resolve areas of uncertainty so that card issuers fully understand their compliance obligations. …