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Fed Plans New Rules to Crack Down on Shady Lending Practices

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Federal Reserve Chairman Ben Bernanke plans a clamp down on so-called "exotic mortgages" and high-cost loans to people with weak credit.  He also wants to extend the kind of low-cost overnight loans that prevented the Wall Street banker Bear Stearns from collapsing before it was sold in March. Paul Leonard is director of the California Office of the Center for Responsible Lending.

Credits

Guest:
Paul Leonard - Center for Responsible Lending - @CRLONLINE

Host:
Warren Olney

Producers:
Katie Cooper, Frances Anderton