According to a news release today, Congress has just introduced legislation that if passed would establish a panel to provide independent mortgage advice.
The new "panel" would be called the "Financial Products Safety Commission," and would "provide independent advice to consumers on mortgage products. It would also be charged with approving new financial and home loan products before they can be marketed to consumers."
Is this just one step closer to governmental control of banking and finance?
Or is this potentially some much needed and long over-due oversight of mortgage loan products?
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