A coalition of groups supporting tougher financial regulations has asked the Consumer Financial Protection Bureau to scrap its proposed revamping of mortgage rules over what it called inadequate safeguards for borrowers.
“Major improvements in these areas are needed including withdrawing and re-issuing a proposal if that is necessary in order to make the major changes required,” Americans for Financial Reform wrote in a letter to the agency on Oct. 9, the last day of a public comment period on the proposal.
