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djenkinskrind · Joined: 01 Oct 2009 Posts: 1 1.26 Dollars($)

This regulation is in effect as of today. I wanted to find out how anyone is dealing with this change.

jerry · Posted: Fri Oct 02, 2009 5:41 am Post subject:

Hi djenkins,

I believe it is a good move on part of the Federal Reserve to implement the new set of rules to protect consumers from unfair lending practices. However, it would have been better if these rules were implemented earlier. It could have helped us avoid the mortgage crisis in the mortgage market and the subsequent meltdown in the economy. But these new rules have just come into effect from October 1, 2009. Thus, it is yet to be seen how the rules actually affect the lenders and borrowers in the days ahead.

Thanks,

Jerry

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

can some one summarize what is the exact rule

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