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A chance to right an old wrong
President Barack Obama's recess appointment to direct the Consumer Financial Protection Bureau (CFPB), Richard Cordray, wasted no time in announcing the watchdog agency's "nonbank supervision program." Bringing nonbank mortgage lenders more fully and formally under federal supervision could represent a historic moment for fair housing enforcement more than four decades after the passage of the 1968 Fair Housing Act.
By Robert Henderson
January 17, 2012
