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Home » Store » News » Lenders, Brokers Divided Over Fed’s ‘Clear, Conspicuous’ Rule

Lenders, Brokers Divided Over Fed’s ‘Clear, Conspicuous’ Rule

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Lenders are strongly objecting to a Federal Reserve Board proposal to apply a “clear and conspicuous” standard to disclosure notices required by five of the agency’s consumer regulations, but mortgage brokers are happy to have the rule. The Financial Services Roundtable and the Consumer Bankers Association have urged the Fed to drop the proposal, saying it would be costly to the industry and provide no meaningful benefit to consumers.
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