The House is considering financial services reform legislation and is expected to pass a bill later today. The 1500 page bill contains provisions that would create a new, independent Consumer Finance Protection Agency (CFPA) that would regulate all providers of financial services including home loans as well as student, auto, and credit card transactions. The legislation contains an exclusion from CFPA regulation for manufactured and modular housing retailers. The Senate Banking Committee is considering similar legislation, where MHI will be seeking an exclusion for industry retailers. For more information contact Brian Cooney at (703) 558-0660 or bcooney@mfghome.org
Source: MHI Week in Review
