Editorial: CFPB could do more to clarify lending terms

04/29/2012 | Bloomberg

The Consumer Financial Protection Bureau has taken positive steps toward ensuring Americans know more about the financial obligations they are taking on, but the agency has room for improvement, write Bloomberg editors. For example, the CFPB should require more detail about lenders' settlement fees, and it should make lenders provide closing documents to borrowers in advance. When it comes to credit card disclosures, the CFPB shouldn't trade clarity for brevity, they write.

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