Fed Adopts Plan to Curb Shady Mortgage Practices

By: Associated Press Email
By: Associated Press Email

Washington (AP) The Federal Reserve has adopted rules to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis and propelled foreclosures to record highs.

Chairman Ben Bernanke and his Central Bank colleagues approved a plan today that would crack down on dubious lending practices that have hurt many of the riskiest “subprime” borrowers: people with tarnished credit histories or low incomes.


KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 25409424 - nbc11news.com/a?a=25409424