Understanding Dodd-Frank 2014
The Dodd–Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111–203, H.R. 4173; commonly referred to as Dodd-Frank) was signed into federal law by President Barack Obama on July 21, 2010 at the Ronald Reagan Building in Washington, DC.[1] Passed as a response to the Great Recession, it brought the most significant changes to financial regulation in the United States since the regulatory reform that followed the Great Depression.[2][3][4] It made changes in the American financial regulatory environment that affect all federal financial regulatory agencies and almost every part of the nation's financial services industry.[5][6] (Source: Wikipedia)
There are significant aspects of Dodd-Frank that affect lenders, retailers AND consumers alike. NCIRG recommends ALL homebuyers become familiar with these aspects when shopping for and considering financing for a new manufactured or modular home.
Click here to download an informational brochure provided by the Consumer Finance Protection Bureau, that outlines the significance of this important legislation to home buyers.
There are significant aspects of Dodd-Frank that affect lenders, retailers AND consumers alike. NCIRG recommends ALL homebuyers become familiar with these aspects when shopping for and considering financing for a new manufactured or modular home.
Click here to download an informational brochure provided by the Consumer Finance Protection Bureau, that outlines the significance of this important legislation to home buyers.
