Banks Fight Rules Regulating Risky Mortgage LoansPlay
The Dodd Frank bill that passed last year to overhaul finance industry laws has a pretty minimal requirement for home loans.
One such provision requires that lenders should determine that people can probably repay a loan before lending them money to buy a home.
Now the banking industry is challenging that requirement, as it seeks a return to riskier mortgage loans.
The fight comes as banks are negotiating penalties for poor foreclosure practices that led to improper evictions of homeowners.
- Here & Now: Book Excerpt "Reckless Endangerment"
- The New York Times: Some Bankers Never Learn
- The New York Times: Banks Still Want A Waiver
- The New York Times: As Wall St. Polices Itself, Prosecutors Use Softer Approach
- Gretchen Morgenson, business columnist for The New York Times and author of "Reckless Endangerment"
This segment aired on August 2, 2011.