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GSEs support propose proposal to redefine APR
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Wednesday, September 19, 2012
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The Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, submitted comments to the Consumer Financial Protection Bureau (CFPB) on Sept. 7 regarding the bureau’s proposal to redefine annual percentage rate (APR). The GSEs indicated that the CFPB should work to minimize problems with other regulations as a consequence of the new APR definition. In its proposal, the CFPB suggested some ways it can mediate the effects of the more inclusive finance charge definition, which the GSEs said they support.
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