The Wall Street Reform and Consumer Protection Act, a 1,279-page bill Congress passed Dec. 11, is the government’s attempt at a federal watchdog consumer agency.  In short, it says that the next time consumers try to apply for a home loan, “the federal government isn’t as likely to be asleep at the wheel. You’ll be less likely to encounter an environment where unregulated pitchmen and con artists can sell you loans requiring no money upfront, no documentation, hyped-up appraisals and payment plans that drag you deeper into debt,” according to a Dec. 19 Washington Post article.

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