Fed's Braunstein on non-traditional mortgages

In testimony 'Non-traditional mortgage products' given on 20 September Sandra Braunstein of the Federal Reserve said the Federal Reserve, responding to growing bank and consumer risks from "nontraditional" mortgages, is considering revising Truth in Lending disclosures to require clearer information for customers seeking these mortgages.

The Fed wants bank communications to consumers to be "complete and balanced in their description of loan features and risks," said Sandra Braunstein, the Fed's

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