June2016 - Chase[ing] the Dream

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64 | TH E M R EP O RT Final Thoughts GSE reform, the CFPB's arbitration clause, and TRID were all the rave this month as Congress members, civil rights groups, and even a Presidential candidate provided their take on the industry's hot-button regulations. "impossible for bankers to function" Republican presidential candidate DONALD TRUMP told Reuters that sweeping financial reforms put in place under Dodd-Frank are harming the economy and he would dismantle nearly all of them. "ripoff clauses" A coalition consisting of more than 160 labor unions, civil rights groups, and other advocates used this strong langague to urge CFPB Director RICHARD CORDRAY to strengthen the arbitration clause ban. "And the man who could be our next President was rooting for it to happen. A new Clinton campaign video released in May alleges that Donald Trump wanted the housing bubble to burst. "Let's not wait until the next crisis." GENE SPERLING, who was Director of the National Economic Council under Presidents Clinton and Obama, and also served as Counselor to former Treasury Secretary Timothy Geithner, on the urgency of reforming the GSEs. "...not something we can even begin to stomach." CEO of Quicken Loans, BILL EMERSON, said in a CNBC's "Squawk Box" interview that it will not settle and admit to committing mortgage fraud to the Department of Justice.

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