Housing advocates say new mortgage rules from federal agency too lenient on banks

Rules released this week by the Consumer Financial Protection Bureau seek to crack down on the risky mortgage lending practices that contributed to the collapse of the housing market and make the process safer for borrowers. Federal regulators also reached a nearly $9 billion settlement with big banks over mortgage-related abuses. But many housing justice advocates are criticizing both developments for giving the banks legal protections from future lawsuits, and promising them billions more taxpayer dollars. FSRN’s Alice Ollstein has more.