Industry NewsMortgage

Obama renews push for regulatory reform

New agency would have power over mortgage lenders
Published on Sep 14, 2009

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by CareyBot

President Barack Obama marked the one-year anniversary of the collapse of Lehman Brothers by renewing his push for an overhaul of the financial regulatory system, which would include the creation of a Consumer Financial Protection Agency with broad power over mortgage lenders.

"This crisis was not just the result of decisions made by the mightiest of financial firms," Obama said. "It was also the result of decisions made by ordinary Americans to open credit cards and take on mortgages."

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