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Baltimore Sun

Consumer agency director coming to Baltimore to announce new mortgage rule

January 10, 2013

'Ability-to-repay' rule intended to prevent irresponsible mortgage lending

Richard Cordray, the director of the Consumer Financial Protection Bureau, is expected to announce the issuance of a pioneering federal rule Thursday that is intended to help prevent a repeat of the risky mortgage lending that led to the recent housing boom and bust.

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