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CFPB to lift curbs on small banks’ non-conventional mortgage lending

By TED CARTER The U.S. Consumer Financial Protection Bureau has backed off enacting new mortgage rules that would make nonstandard home loans, including balloons, legally risky for small lenders in rural and under-served areas. The action comes as a relief for credit unions and small community banks in rural and small-town markets that had worried they would lose legal protections for ...

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