Posted To: Pipeline Press
Residential lenders are paying raptly following the news that President Donald Trump intends to roll back much of the 2010 Dodd-Frank financial regulations through an executive order today at noon ET, and work toward rescinding the Department of Labor's fiduciary rule. On the flip side, fintech startups are preparing to fight for a little-known provision in the Dodd-Frank Act that lets them mine customers' bank accounts for data that facilitate use of investment apps and other third-party banking tools. "Some of the rules may have even been unconstitutional in creating new agencies that don't actually protect consumers." But every lender will say that some of the rules work well - and that we need to keep those and change others and their enforcement methods. All the tizzy last month has reminded...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2k3CTDu
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