Dealbook had an item about the qualified mortgage rule and the bid by mortgage lenders to acquire a “safe harbor,” essentially a shield against consumer lawsuits, in the process. I’ve already gone over this topic and continue to oppose giving banks a safe harbor of any kind on the merits. But just to shift gears away from the precise details for a moment, consider why you would want to give any entity that does something like this protection from legal exposure:
|By: David Dayen Thursday December 20, 2012 5:54 am|
|By: David Dayen Tuesday October 16, 2012 6:40 am|
CFPB’s credibility is on the line with this rule.