WASHINGTON (AP) - The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from shady lending practices. It would be the Fed's most sweeping response yet to the continuing housing crisis. Fed Chairman Ben Bernanke talked about the rules in a broader speech today about the challenges facing the financial system. He said the central bank may give Wall Street firms more time to tap its emergency loan program. Hoping to prevent a repeat of the current mortgage mess, Bernanke said the Fed will adopt rules cracking down on a range of questionable lending practices that have hurt many of the nation's riskiest borrowers. The plan, which will be voted on at a Fed board meeting on Monday, would apply to new loans made by thousands of lenders of all types, including banks and...
[read full story]
Your Web Site
